Housing news is always a hot topic. One reason is that is considered an economic indicator and lets us know whether we should splurge and order that flat screen TV, or stuff the bills in the mattress.
We are constantly bombarded with housing news, analysis, trends and predictions. We hear things like, 'It's Time to Buy!' 'It's Time to Sell!' 'It's Time to Rent!' This makes it very difficult to understand what's relevant in our own market because there are so many regional, local and personal factors that come into play when buying and selling a home.
So if an analyst or organization says 'It's the right time to buy,' they may be correct from a market perspective, but not necessarily your perspective.
For example, not every housing market is in a nosedive. Arlington has consistently bucked the trends with stable home sales and a steady market overall. As we approach the half-way point of 2011, we pulled together some statistics to help buyers and sellers in Arlington educate themselves about the local market.
As a result of Mother Nature and all the snow and rain we received since the beginning of the year, the spring market was off to a slow start as evidenced by the above market snap shot.
Comparatively, volume and prices remained relatively stable.
· For sellers: It is important to note that a decrease in supply of single family homes has driven up the average price. So, it is a good time to be a seller of a single- family home in Arlington.
· For buyers: On the flip side, for a first-time buyer or someone looking to downsize, prices of condos and multi-family homes have come down, making them an affordable option to a single family home.
As the weather improves we are seeing a significant upswing in activity, so if you are thinking of selling or buying, call us today for guidance with your real estate needs.