October 2007 Sales Numbers for Arlington are in…
November 6th, 2007 Categories: Arlington Dirt, Market Stats
…and the name of the game is slightly rising inventories – steady sales in keeping with 2006 and a few markets actually tapering off a bit.
Here’s what October looked like:
What I notice are condo sales falling off a bit, as well as average selling prices, but remember, I’ve said this before – it’s VERY difficult, if not impossible, to do trending off of 1 discrete month of sales data – this is just a snapshot compared with the same time last year. So, for more solid trending data, let’s look at Year-To-Date info:
From this I can see that we’re ahead on condo sales in almost all aspects from 2006 – we’re lagging a slight bit (less than 2%) in Single Family Detached home sales over 2006, but holding strong in the 22207 zip code. However, Days on Market continue to plague us as we see longer averages than last year.
Now, for absorption rates – last month everyone was so excited by my graphics, I decided to give you a little treat today and here’s how the current absorption rates look for Arlington County…
These are all increasing – not at all surprising given the time of year; however, it just means that if you’re a buyer there’s more inventory – more to choose from and thus more negotiating power. If you’re a seller, it means you must be priced right, you must look good and you must be creative in your approach to get the right buyer in the door.
So there you have it, folks. The numbers for October. I’m optimistic – if you’re ready to talk real estate – give me a call!
Happy Tuesday!
Jennifer
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