February Sales Numbers are in for Arlington – Early Spring?
March 8th, 2008 Categories: Arlington Dirt, Condos, Market Stats
Well, as expected we are seeing quite an improvement over January when everyone is hibernating! Yes, things are still volatile in the world of real estate right now, but we are seeing signs pointing to a typical spring market around these parts! Good activity, especially in the contract writing segment. Take a look…
“Sold” units have doubled for single family homes since January and contract writing is up about 25%. I’m fascinated by trends, so once again, I think it’s wise to look at these numbers as they’ve trended for almost the past year:
More contracts for single family homes were ratified in February than in any single month since last July. That’s big! Similar numbers posted for condos. Lastly, let’s look at absorption rates:
Looking pretty good and very consistent. These are only interesting to a point – they rely on the sales numbers for this month to determine how long it will take to sell through our inventory at THAT rate… so it’s different every month. But any way you slice it, single digit numbers are good to see here.
So, I will leave you with a few comments. I worked an open house last weekend and had over 50 sets of guests! FIFTY!!! That’s HUGE. There’s definitely activity picking up in the market and that’s exciting to see.
On the financial front, with the new conforming loan limits, some are nervous about where that will push interest rates; however, a jobless report came out which may help temper them and we might find ourselves in a nice little pocket for now. Stay tuned.
If you’re considering buying or selling – give me a call to discuss. As you can see, the spring market is shaping up nicely and I’d be happy to be YOUR go-to resource for all of your real estate needs!
Happy (rainy) Saturday!
Jennifer
Serving all of your real estate needs in Arlington, McLean and the entire Northern Virginia Region!
Contact me today for a free home valuation or buyer counseling session! The Time is NOW!
Copyright © 2007 Arlington Dirt Real Estate 
[...] February was not a stellar month for home sales in McLean neighborhoods. While there are still quite a few buyers out there, we are hearing that many of them remain on the fence – trying to game the market as to whether we’ve seen the bottom or not. It’s really anyone’s guess. We’re hoping to see activity pick up a bit as it has in it’s neighboring community of Arlington! [...]