Arlington County Real Estate Through 2010

If you caught my post on Fairfax County on Tuesday you will see that the charts for both Arlington and Fairfax Counties were nearly identical in trajectory for 2010. Which leaves much of the analysis the same.

The Prices

You can see above that we started out the year with a steady incline in prices as the expiration of the first time home buyer tax credit approached on May, nurse 31. Immediately after the expiration of the tax credit prices began to drop again, shop partially due to the expiration of the credit, case which reduced competition, and partially due to a spike in inventory that you will see in the chart below.

The Inventory

As was true throughout the Northern Virginia and greater DC metro area, inventory spiked in a big way after the home buyer tax credit expired. Be it from residual buyer activity, folks pulling their homes off the market, or both, inventory recovered fairly quickly considering how high it had gone. It is difficult to say how much of this inventory reduction was related to the foreclosure moratorium.

Days On Market

When you look at the chart for median price, and the chart for inventory, this chart for days on market seems a bit backwards. For whatever reason the lowest days on market for the year took place when the inventory levels were rising rapidly. You can see above, that days on market did level off, however we left there year with a clear upward trend. Such a trend is relatively normal for this time of year.

Arlington in 2011

Early indicators seem to be that real estate activity is picking up. My top source of that information, in the absence of any data until later in the quarter, is the level of activity in and around the office. As I mentioned in the Fairfax County post, agents have been receiving many more calls since Christmas from buyers and sellers alike. Only time will tell if this is accurate, but it seems as though activity in our market may be moving on to a new phase of recovery.

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