Sales are down 31% in April 2020 for Arlington, VA real estate
Arlington had 197 sold homes in April 2020 vs. 287 in 2019. That’s a 31% drop. But it’s a lot more than ZERO sales – which is what many people are thinking is happening.
Active listings in April this year were 254 vs. 245 in 2019. Very similar amount of inventory.
There were 41 listings in “Temporarily Off market” status – which means Arlington sellers are waiting to see what the market is going to do and when it would be safe to resume showings and the sale.
Arlington still has a lot of pent-up demand from last year and we are still experiencing a very strong seller’s market. I just settled a buyer who purchased in the middle of pandemic and had to beat 4 other offers, and paid 35k over the asking price.
There are companies providing disinfecting services after the weekend of showings – which can put some sellers at ease. I would gladly pay for this service for any of my sellers – just ask!
My townhome listing at 4097 Columbia Pike had 4 offers and went under contract in 4 days – please see the link here. We are waiting for settlement and expecting to close above list price. Call me today at 703-217-2077 for a free virtual consultation so I can guide you through the process and help you figure out the best strategy for the sale of your Arlington home!
Even though the sales are down, the values are not down due to low inventory levels