How’s the Market – February 2009 – Arlington Virginia – NUMBERS
March 11th, 2009 Categories: Arlington Dirt, Market Stats
Hello Folks!
Bet you thought I forgot about you? Not a chance. I have been busy – and had the pleasure of attending the annual Keller Williams conference in Orlando Florida a few weeks ago. Always an inspiring event but takes a while to internalize all of the input – it’s like drinking from a fire hose – so much helpful information to come back and implement in our businesses.
Anyway, that question that’s on everyone’s minds is back… how’s business? Well, I’d have to say February was a significant improvement over January by a long shot. We saw almost DOUBLE the contract writing activity – that’s EXCELLENT because without writing and ratifying contracts, there would be no sales – so that’s our biggest indication of trends, which is why I track that separately as well. I’m also noticing that the lower priced homes are what’s generally moving, with a few higher priced sprinkled in.
Here are February 2009 Numbers:
The low “sold units” number is due to the low contract writing in January of this year. We nearly doubled the contracts written on single family homes from 62 in January to 105 in February. Condos, we increased from 93 in January to 129 in February. This will continue to help those sold numbers push upwards and thus absorption rates continue to come back into line.
Here’s how the contract writing looks – it’s a pretty complicated looking chart, but I’m overlaying 2009 activity on 2008 activity. It’s definitely slightly behind, but trending similarly (which you’re really seeing the beginning of spring season here).
The green line is the 4 week moving average for 2008 and the blue line is the 4 week moving average for 2009. That’s where we can see trends – for the actual numbers, see below. I’ve tracked it in “week 1, week 2, etc” so I can compare 1 year against the next…
You can see that weeks 6–9 basically represent February and it’s very strong! In fact, week 7 showed more contracts written since week 33 last year which is the middle of August! So, are we on track? I’d say so – homes are selling and if you’d like to discuss it further, please don’t hesitate to call. I can perform in depth analyses for your neighborhood and you can evaluate from there.
Happy Wednesday!
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! And remember, spring is RIGHT around the corner!
Like what you’ve read? Subscribe here
Copyright © 2007 Arlington Dirt Real Estate 