Sales Numbers are in for Arlington Virginia – August 2008
September 8th, 2008 Categories: Arlington Dirt, McLean Dirt
Well, September has arrived, the air is cooler, fall is coming, the Redskins have already lost their first game of the season (and hopefully their last loss this year) and it’s time to review how the market was for the month of August. I personally found this to be an unusual August – I found the weather delightful, people were vacationing for longer periods of time (2 weeks instead of 1) and were largely gone, in more ways than one, for a good part of August.
Nonetheless, the market was not dead – in fact we saw some improvement in terms of Days on Market and more condos settled in August than any other single month since July of 2007. Wow… I think with news that perhaps we’ve hit bottom, interest rates are still manageable, especially with the FHA and other government programs being in vogue right now, many factors point toward this being a decent time to get involved.
Here’s how the numbers looked for August 2008 in Arlington:
As far as absorption rates go, we still have some of the lowest in the country. This shows us on an on-going basis how much inventory we have and how long it would take at the current monthly rate to sell through what we’ve got. In theory it should be a good indicator of how long to expect (on average) for a property to sell.
There are some great options out there. If you’d like to investigate what might meet your needs, give me a call. Or – just call to chat!
Happy Monday
Jennifer
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