How’s the Market? Summer 2009 in review for Arlington Virginia
September 22nd, 2009 Categories: Arlington Dirt, Home Buying, Home Selling, Market Stats
I haven’t posted numbers in a while, but every week, week in and week out, I continue to track ratified contracts. As many of you have heard me say (or I guess read my words) I believe that ratified contracts tell the whole story – what’s current? What’s the buying climate? and/or the selling climate – depending on which side you’re looking at.
Since yesterday was the last official day of summer, I decided a look back was in order. Remember, I track sales numbers for Arlington County Virginia and this is a combination of ALL sales; condos, townhomes and single family.
For the most part, 2009 has well outperformed 2008 and this is coming into the time last year when things really started to crumble. Year to date, we’ve seen a 10% increase in sales over 2008 and as I said above, if you look at last October, that’s when a lot of the trouble started. So I fully expect to end the year on an uptick this year -
Here is what the data looks like for the 13 weeks of summer that just ended:
With the exception of 4 individual weeks, every week of 2009 saw more contracts ratified – and of those 4 weeks, 1 was only lower by 1 contract – we saw an unexplainable dip during the July 4th week in 2009 but otherwise, strong. And look at where the last 3 weeks have been – 3 weeks ago we saw a 6 contract gap, 2 weeks ago we saw a 10 contract gap and last week, a 16 contract gap.
I believe the convergence of the 1st time buyer tax credit, good rates and reasonable prices/sellers are all contributing factors to this current climate. It will be very interesting to see what will happen come 11/1/09. But for now, we keep chugging along.
If you’d like to see information for your market or would like to talk in general about buying or selling, please feel free to give me a call, drop me an email, facebook friend me or even follow me on twitter at @jklaussen
Happy Tuesday
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, there’s no time like the present! The $8,000 tax credit expires on 11/30/09 – There’s still time!
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[...] recently reported on the market this summer. What I thought would be very interesting would be to watch the activity for September and [...]