jump to navigation

Arlington Virginia – Days on the Market – July 2009 August 10, 2009

Posted by Laura Schwartz in Arlington, First-Time Buyers.

For those of you who read my monthly statistics regularly, you know I normally break out Arlington statistics by zip codes and styles. Well this month, something struck me as so important, that it deserves a blog to itself: Days on the Market.

The MRIS tracks the number of days from when a property is first listed, until it is under contract (regardless of whether it’s contingent on anything). Days on the Market (DOM) is a good indication of buyer activity and pricing. Take a look at the chart below for July 2009:

North Arlington: 22201, 22203, 22205, 22207, 22213 – On average, 57.4% of all the listings sold in July sold within the first month!

South Arlington: 22202, 22204, 22206 – On average, 51% of all the listing sold in July sold within the first month!

This to me is absolutely incredible. It’s also indicative of the level of inventory we’re experiencing right now. For some people, there’s just nothing to buy! Or when something comes on the market that’s in decent shape, a good location, and a reasonable price – it’s literally FLYING off the market (and more often than not, after multiple offers).

With the December 1st deadline for eligibility for the $8,000 tax-credit quickly approaching, buyers are not hesitating to make an offer when they find something they like!

*Data provided from MRIS. All information deemed reliable but not guaranteed.



No comments yet — be the first.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: