What’s Driving Arlington Virginia Home Sales?
April 19th, 2010 Categories: Arlington Dirt, Market Stats
Oh, you came looking for an answer? I have a few guesses, but nothing definitive… Last week there were 93 ratified contracts in Arlington County – 93 buyers ratified contracts to purchase a home last week… did you hear that?
93
ninety three
NINETY THREE!!!!!!!!!!!!!
This is the highest I’ve seen since I began tracking on 1/1/2008. Now, granted, the past few years haven’t been the most stellar, but this is the highest by 10! TEN!! So why is this?
The first, and most obvious guess might be the looming deadline for the tax credit. Since this was expanded to include more than just first time buyers, it is conceivable, and even likely, that some of this volume is due to the 4/30/10 deadline to be under contract… only time will tell if this is what’s responsible… check back in a few weeks!
Second guess is that it’s SPRING – it’s the time of year that we expect to be busy selling houses! Do you hear that sellers??? Arlington homes are selling!!! It’s normal that we have an increase in broker’s opens; an increase in open houses; an increase in buyers, etc…
Next – guess what folks.. inventory is finally going up – that’s good – otherwise there would be nothing to buy – as of RIGHT NOW there are 263 single family homes active and available for purchase in Arlington County – there are 465 condos active… these are much more in line with what we normally see, albeit slightly on the low side – but much improved over where we were just a few short weeks ago.
So whether you choose Door #1, Door #2 or Door #3, the result is the same. Houses are selling and it might just be the right time for you to get in the market.
Happy Monday!
Jennifer
Copyright © 2007 Arlington Dirt Real Estate 
So glad to hear you so excited and reported great news for the housing market in Arlington Cty. Massachusetts and Metrowest Boston is experiencing the same market conditions. One concern I have is our housing inventory… it is very low. Wishing you the very best over the coming weeks!
[...] a few weeks back I wrote an article basically posing the question of what was driving the Arlington Home sale market at that moment? Tax credit, interest rates, just plain spring? Well I think I got my [...]