Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

It’s all about Inventory… or Actually the Lack Thereof
 
Here in the close-in Northern Virginia market, (which is composed of Fairfax & Arlington Counties and Alexandria, Fairfax & Falls Church Cities), the lack of quality inventory is THE story now.  This is particularly true in the $500K-$300K and <$300K price ranges, where available inventory is down (19%) & (37%) respectively, but new contracts for January came in at 1% & (12%) respectively.  The drop in contract activity is believed to be related to the lack of desirable listings at this point, as opposed to a reduction in the desire to buy.  Open house attendance for the Arlington office of McEnearney Associates has been very since the start of the new year.
 
           
                                              
 
Cries of a buyers market have long faded away in all price points except the very high end.  In fact, below the $1M price point, the market is decidedly a sellers market with multiple contracts & escalation clauses becoming fairly standard again.  The drop in available units in the two lower price points mentioned above, coupled with relatively stronger sales in the month, has led to a depleted inventory to below a 2 month supply.  The bar graph below shows Months’ Supply for 1/2011 ... more

__________________________________________________
Are you on The Rain? Grow Your Network!