Arlington real estate has been steady. What are the biggest differences between January of this year vs. January of 2013?
1. The inventory is WAY WAY better. Last January buyers had 260 homes to pick from. This January buyers had 336 homes to pick from – that’s almost 30% more. I know some of you who have been waiting for a 2 bedroom 2 bathroom condo at the Clarendon 1021 – this might not seem true, but the market seems more balanced than last year.
2. Average days on the market went from 60 to 45 – which is a 25% improvement. If you like the house – don’t wait around too long or you will miss the opportunity.
The rest of the statistics is very similar – number of sold homes, homes that are under contract, average sales price, median sales price. If you’d like to see all the statistics in detail – click here.
I know a lot of buyers – especially in lower price ranges that are waiting for some new listings – hang in there – March and April should bring some more opportunities. Just make sure you get your loan approval ready so you can jump on something quickly.