The Shirlington Report
~ October 2009 ~
It was a busy month for Shirlington real estate with 50 new condo listings hitting the market in October, 23 of 30 units under contract getting ratified within the month, and 34 units making it to the settlement table. Early contract activity in the month was skewed towards lower priced properties, presumably 1st time home buyers trying to get in under the original deadline for the tax credit, while activity in the latter half of the month was geared to higher priced units.
The normal seasonal slowdown appears to have started, with only 8 new contracts being ratified in first third of November and even fewer contracts expected once we get to Thanksgiving week. The unknown aspect this year is the extension & expansion of the Home Buyer Tax Credit and it will be interesting to see if that motivates buyers to stay focused during the holidays. There is ample inventory and many sellers may be in more of a deal making mood the further we get into holiday season.
AJ Heidmann, CRS, ABR, e-PRO
Cell 703-474-1260 ~ Office 703-518-8300 ~ Fax 703-518-8314
Coldwell Banker Residential Brokerage
310 King Street, Alexandria, VA 22314
"Serving Distinctive Clients & Properties in Northern Virginia"
Licensed in Virginia
* Information taken from the MRIS system deemed reliable, but not guaranteed.
** For the purposes of this report, the Shirlington area includes the following condominium associations: Courtbridge I & II, Heatherlea, ParkFairfax, Shirlington Village, The Arlington, Windgates I, II & III, and all Fairlington communities.
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