The BIG problem with the Arlington real estate market right now

 I keep reading market report after market report about how the numbers are DOWN.   Total sales volume in Arlington, VA for December 2011 over December 2010 was down 18%, new listings down 13%. However as an Realtor working primarily in North Arlington, I can say the numbers do not tell the whole story.

I can tell you that I have many buyers looking and not finding what they want.  And no they are not being "unrealistic" about what you can get for your money - there is simply no inventory.   I have only a few listings coming on the market, and have been reaching out to other local agents who don't seem to have much coming soon either.  The Tuesday tour this week of previews was thinner than it's been in years.  People are not selling right now.  Perhaps sellers are all waiting until spring, but if you are thinking about selling your home in Arlington, and waiting until spring, I suggest you consider doing it now when inventory is so low (if you can be flexible with your timing to move).  If everyone waits until spring, there will be more competition.

So if you are a prospective home seller in Arlington and read that sales volume is down, prices are down, and days on market are UP, you might think - "Now is a bad time to sell."  Logically.   But the numbers don't tell the whole story, especially in the $750,000 to $1,100,000 price range.  

There is HUGE demand for homes in this range right now - take it from a Realtor who has buyers searching in that range right now.   

Arlington, VA home Prices  - Now pricing is another issue.  If you've owned your home for a while and have equity, you should be fine with the prices.   But even though there is high demand for homes, buyers are not generally over paying and prices are not going way up, they are steady.  Yes we have multiple offers and homes selling for over list on occasion, but still nothing like the boom of 04-06.   And high Days on Market is a bigger curse than ever before.  Buyers know the houses that are priced right sell fast and they will negotiate hard on homes that languish for months on the market.

So if you are thinking of selling your Arlington, VA home and looking for a local Arlington Realtor to talk numbers and strategy with, give me a call.   The homes that are priced right and staged properly sell instantly - the others...well they are the ones making the market look worse than it really is.

 

 

Coral Gundlach, CRS

Realtor serving Arlington, Fairfax and Loudoun Counties in Virginia

Thinking of buying or selling a house in Arlington, Virginia or surrounding communities? There is no general "good time to buy or sell," it's a very personal decision.   Contact me for a confidential consultation based on your needs.  I am always happy to help people decide if now is the right time for you to move.

www.coralgundlach.com