Archive for the 'Monthly Statistics' Category
July’s Market Report Shows Decrease in Inventory, Slight Rise in Sales for Northern Virginia and Alexandria
August 15th, 2008 Categories: Monthly Statistics
Inventory in Northern Virginia’s Arlington and Fairfax Counties dropped slightly last month while new listings and houses under contract rose slightly. Alexandria City County saw a small drop in inventory and listings but a rise in contracted houses.
Overall, the three counties are holding steady thanks to continued favorable mortgage rates and smart pricing on the part of agents and home owners.
Pricing continues to be the biggest factor in moving from “for sale” to “sold” but as transportation costs consume a larger portion of monthly budgets, home buyers are adding a “close in” location to their list of must haves.
With four MetroRail stations serving Alexandria, three serving Fairfax County and eleven serving Arlington County, Northern Virginia offers home buyers a number of transportation alternatives.
Following are market statistics by county. I encourage you to look at them and then give me a call at 703.927.4554 and let’s talk about what they mean to you.
We’ll be listing market figures for some of the outlying areas in Virginia and Maryland next week so be sure and check back with us.
Michael
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June Housing Report Reflects Available Mortgage Money and Properties Priced to Move
July 6th, 2008 Categories: Monthly Statistics
After months of focusing on negative statistics, we are pleased to see media reports indicating home sales across the country increased 2.0 percent from April to May. In some areas of the Mid-Atlantic there were double digit increases over April’s numbers. This is a positive reflection of two major factors:
- Mortage money - at a 40 year low - is readily available
- Housing selection is excellent.
It also demonstrates that buyers are motivated to action when sellers move prices to match a buyers perception of value.
Real estate is a commodity not a product.
Buyers research what is happening in the market before deciding on the value of a commodity.
When there is a shortage of a commodity the prices go up. When there is an oversupply, prices go down.
When a real estate property is priced correctly, buyers see value and take action - they BUY!
Following are market statistics by county. Let the statistics help you assess the current market and how properties are positioned for action.
You may also want to check out my articles on what has been happening on the mortgage scene.
For more information on how you can take advantage of today’s market to buy or sell your home, call me at 703.927.4554 and we’ll work through it together.
Michael
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