November 20th, 2007 Categories: Around Arlington County, Ballston, Buyers, Clarendon, Columbia Pike, Courthouse, Crystal City, East Falls Church, Local Real Esate Sales Numbers & Things, Nauck, Pentagon City, Real Estate News, Rossyln, Sellers, Shirlington, Virginia Square
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Mary - Wow that’s all great real estate market info and good to know that most homes in the areas of Arlington Virginia are seeing values go up. Great post
Mary- This is a great report on Arlington Real estate and why I like your writing so much. You have a strong market in Arlington, and understand why. I’d rate the buy higher too because the Federal government, and the jobs the very large budget provide, are not going anywhere. The people trade places every once in a while-good for real estate- but thats about it…Terry McDonald Charlotte NC
Mary,
For anyone looking into what the real estate market is doing in the Arlington, Va. area, well they have come to the right place. This article is packed with tons of good information for such a broad area, in and around Arlington.
By they way, time spent on the chart was well worth it….the post looks great!
Mary,
I like the way you explain all the Arlington real estate market numbers in detail for your readers. I need to do a better job of that on our site.
Good information presented in an easy to follow format. You definitely have the pulse of the Arlington real estate market.
By the way, 45 days on the market rocks! At least it would in the Dothan real estate market.
Mary - Great job breaking down the Arlington real estate info! I often have a hard time; raw data doesn’t tell all the details. It is the experience of being in the middle of it, day in and day out which gives us the best knowledge. Love your chart! - Paula
Mary,
Even though the average sales price is on the rise - that simply means the buyers are spending more… not that the prices of individual properties are going up. I think that’s a significant point!
Methinks there’s a tiny touch of spin here?
Rob
Rob, you lost me. Don’t the prices of individual properties have to go up if the average sales price goes up and buyers. Sales prices going up means buyers paying more. I’m sorry, but i don’t get your point. Yes, it is an average, but averages are what make sense for this sort of analysis.
Interesting to me that the average Days on Market in Arlington is only 45 days. I’ve heard that the DC market was slow, but that’s not slow to me.
In Alpharetta, GA, where i work, our average Days on Market for residential real estate is around 80 days. We didn’t think that was too bad ;-> until i read your statistics. Who said Housing Slowdown?
Thanks for sharing your numbers,
Kevin
Alpharetta, GA
Rob-
I’m not sure what you mean. But I think you mean that people are buying more expensive properties.
The NVAR numbers do not separate out condos from single family homes. So- and I promise to do this in the next few weeks- if you were to look at the Arlington condo market- I wouldn’t be surprised to see the average price decline- while the single family home and maybe even the townhouse market to be steady or see an increase. This is evident in the 22206 Arlington zip code because that is a condo-heavy market.
The point I’m trying to make with these numbers is this: Arlington is different from the national trend. So before you have made up your mind about whether you should be buying or not, talk to a professional.
Yes- the single family home market in Arlington is a higher-end market. But that’s the whole point. The Washington DC area IS a higher priced market than most of the nation- so because people here make more money, have stable jobs & in general, good credit, the real estate market bucks the national trend.
Arlington, taken by itself is even different than other parts of the local area further out like Loundon County and parts of Fairfax county. Even within our metropolitan area the hyper-local market is different.
Data can be spun in any direction- but these are some basic raw numbers that don’t lie.
I hope I was able to answer your question. If not, please feel free to contact me to discuss further.
Thanks for visiting my blog. I’d love to hear from you on what you think of President Bush’s rate freeze plan.