The High end of the Arlington Virginia Real Estate Market
April 3rd, 2009 Categories: Arlington Dirt, Market Stats
I was preparing today to pull some statistics together for March, although it’s a little early since some agents haven’t yet updated from their late-month settlements. In any case – I noticed a particularly heavy load on the high end and it intrigued me! Currently there are 24 listings under contract whose LIST PRICE is over ONE MILLION. WOW – there are 145 active listings over $1M – so while 24 doesn’t seem like much, I went back over the last few months to see what’s been happening.
Contracts Written Over $1M
March, 2009 – 14 contracts
February, 2009 – 6 contracts
January, 2009 – 7 contracts
December, 2008 – 7 contracts
November, 2008 – 10 contracts
October, 2008 – 8 contracts
September, 2008 – 19 contracts
So I had to go back 6 months to find a month where there was more activity in the $1M+ market. Part of this is a result of the tightened lending restrictions (read: lack of jumbo money over $729K); part of it is the excellent interest rates we have now and lastly, I believe it’s the rebound in the stock market that is allowing those buyers who had tabled decisions to move and they are now seeing increases once again in their investment accounts.
It’s not for everyone – but if you’re considering buying in the high end, I have lender contacts who can get the job done. Likewise, if you’re considering selling and thought it was impossible… think again!
Happy Friday
Jennifer
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