It's time to take a look at how Arlington is holding up as we begin to wrap up 2008. Below are some market statistics for November 2008.
Arlington County - Total
136 properties sold
Arlington County - Condominium Market
53 Condos Sold
Average Days on the Market: 78
Average Sale Price: $330k (about 13% less than last year)
Arlington County - Single Family Homes
65 Detached/Single Family Homes Sold
Average Days on the Market: about 2 months (62)
3 Bedroom House: $556k (ranging from $222 to $1.2M)
4 Bedroom House: $746k (ranging from $257 to $1.7M)
These statistics may show a slight price decline...but let's highlight the opportunity here:
There are TREMENDOUS opportunities here to buy. There should be a sign that says "Arlington Real Estate On Sale" next to the "Welcome to Arlington" signs. See below:
Active Listings Below $200,000
In 2007: 49
In 2008: 76
Listings Sold Under $200,000
In 2007: 5
In 2008: 11
With interest rates below 5% for the first time in years!!!!! and prices like these....now really is the time to jump into buying.
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