June is upon us already, amazing! So where are we housing-wise in Arlington?
Arlington County as a whole has seen a steady uptick in prices for single family dwellings since September of last year. As you will see below, the Arlington Condo market followed suit until about mid November, and has since seen a steady decline. Not great news, but it is also evident that we are not talking about severe swings for either the single family home, or the condo market.
The question I have right now relates to the second chart below which shows that inventory of Arlington single family homes and Arlington condo’s are both on the rise. Price impact will lag behind this trend, which is not showing signs of leveling off at the moment. I am not going to make any dire predictions here, but it is telling that sellers have entered the spring and early summer markets, but buyers have not come out to meet them at the same pace. Once the next couple of months play out I believe prices will probably have remained relatively flat overall.
I don’t think we should be surprised by any of this information, which I believe is to be expected as we skip along the bottom here for a bit longer before Arlington real estate starts making a more distinct climb back upwards.
Please note: This data is looking at Arlington as a whole. Your specific zip code, or neighborhood may be performing very differently. To have a look at what is happening around you specifically you can request a custom market report here, via the link at the bottom, or in the sidebar.
Arlington County Average Home Prices Through May 2011:
Arlington County Inventory of Homes Through May 2011: