The holiday season most certainly has an impact on the real estate market. This isn’t new, but how does the start of one holiday season compare to another?
We took a snapshot of November home sales for single-family, condo, and multi-families in Arlington for both 2018 and 2019, and here’s what the data reveals:
You’ll notice that the number of single-families and condos sold for 2018 and 2019 stayed fairly steady without much variation. The number of multi-families sold dipped from 7 in 2018 to just 2 in 2019 (note the number of multi-family sales declined in October 2019 vs. October 2018 as well). It will be interesting to see where this trend goes over the next few months.
Single-families are selling a bit quicker in November 2019 vs. November 2018, and condos are relatively steady comparatively. Multi-families have seen a somewhat significant drop in days on market. This is consistent with our October comparison as multi-families continue to be scarce and sell quickly.
Average sale price of single-families was slightly down, and condos slightly up. Coming in just a bit higher in 2019 than 2018 ($3,286 to be exact), the multi-family average sale price is up as well.
Overall, not a ton of fluctuation in November 2019 vs. November 2018, but the star of the market right now seems to be the multi-family which is in demand, selling quickly and at a higher price in November 2019 than November 2018.
*Here is the above data in a snapshot view:
Single Family Sold Listings: 26 Avg. DOM: 27.23 Avg. Sale $: $894,346
Condominium Sold Listings: 24 Avg. DOM: 16.96 Avg. Sale $: $537,204
Multi Family Sold Listings: 7 Avg. DOM: 50 Avg. Sale $: $889,214
Single Family Sold Listings: 24 Avg. DOM: 20.63 Avg. Sale $: $798,562
Condominium Sold Listings: 24 Avg. DOM: 18.08 13 Avg. Sale $: $607,734
Multi Family Sold Listings: 2 Avg. DOM: 29.5 Avg. Avg. Sale $: $892,500