On the heels of one of the busiest summers for selling homes, the Arlington fall real estate market is in full swing!
If you've been holding off on selling your current home because you think 'nothing is out there' for you to move into, think again! The number of single family home sales in Arlington is up 9.65% as compared to the same timeframe last year (see below*). This indication of an inventory crunch easing up means more options popping up for home buyers.
The average sales price for single family homes is also up 12.5%. So if you are thinking of selling, chances are you'll still get an amazing price on the sale of your existing home. However, this could change in the near future if inventory continues to rise, causing demand and home values to level off.
Arlington condos have also been hot this year, with the average sales price up 19.59% compared to the same timeframe last year. Boomers looking to downsize, urbanites who don't want yard maintenance, families who want walkability - there is a demand for condo living which means there is an amazing opportunity for condo home sellers right now!
Multi-family home values in Arlington continue to steadily increase with the average sales price up 5.17%. Multi-family homes in Arlington are often fantastic investment opportunities!
So what does this mean for you, potential home seller or home buyer? It means that inventory is showing signs of easing up with more options for home buyers, but home values have not yet reacted making it a great time to sell a home at a great price!
*Data Source: MLS, January--August 2013 vs. 2014
Sold Listings: 176 Avg. List$: $580,887 Avg. DOM: 27.43 Avg. Sale$: $599,407
Sold Listings: 193 Avg. List$: $650,873 Avg. DOM: 22.38 Avg. Sale$: $674,383
Sold Listings: 193 Avg. List$: $371,908 Avg. DOM: 32.61 Avg. Sale$: $377,775
Sold Listings: 119 Avg. List$: $357,428 Avg. DOM: 50.46 Avg. Sale$: $363,290
Sold Listings: 35 Avg. List$: $593,194 Avg. DOM: 23.34 Avg. Sale$: $605,111
Sold Listings: 20 Avg. List$: $615,945 Avg. DOM: 42.25 Avg. Sale$: $636,425