Arlington County VA homes have always bucked the national trend. When prices are falling around them...they hold steady or fall at a slower rate.
When the market improves...Arlington home prices sprint ahead and properties sell faster than similarly priced homes in other area counties...often in a matter of a few days.
Spring was barely here this year, when homes started going under contract at a gratifying clip.
The low unemployment rate, about half the national average, combined with record low interest rates have kept the price recovery coming along.
Look at the steep price climb on the graph below...amazing.
Don't forget, the national real estate situation has almost no bearing on the good news from Arlington; See for yourself... Arlingtons's major housing statistics through the month of June 2012 are below.
In order to smooth out seasonal aberrations and monthly anomalies, we generally use longer term statistics...covering 3-5 years.
The larger data set also helps uncover any underlying market trends of strength or weakness.
Below is the 5 year median price trend for Arlington which mirrors that of all NOVA counties.
The market bottomed in early 2009 and has been recovering a significant amount of the equity loss from the freakish never before seen price highs of 2005.
As you can see, the average home price has increased over $150k between March 2009 and June 2012.
Hover your cursor over any point on the graphs to get a monthly read...they are interactive and will self update when the next month's data is available.
The number of days that it takes to get a winning contract stands at 45...a very wonderful number. As the year progresses that number should gradually increase if history holds true.
The existing inventory of re-sale homes is near the five year low on the chart below.
Short supply and strong demand has edged prices upward. The number of homes for sale in June is just over half of the 983 that were on the market back in September 2007.
Good news for home sellers.
If you have any questions about homes for sale in Arlington, please drop us an email and we will get you the info you require.
If you would like to visit some of the available properties, just let us know and we will make the arrangements.
If you are an Arlington resident and would like a free analysis of your home's current market value, please contact us.
We are happy to be of service, no obligation and no pressure.
Thanks for stopping in.
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Moving to Northern Virginia? Here is a photo tour of home styles and countryside:http://actvra.in/FGC
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