Arlington Virginia Real Estate Market Statistics - November 2008

It's time to take a look at how Arlington is holding up as we begin to wrap up 2008. Below are some market statistics for November 2008.

Arlington County - Total
136 properties sold

Arlington County - Condominium Market
53 Condos Sold
Average Days on the Market: 78
Average Sale Price: $330k (about 13% less than last year)

Arlington County - Single Family Homes
65 Detached/Single Family Homes Sold
Average Days on the Market: about 2 months (62)
3 Bedroom House: $556k (ranging from $222 to $1.2M)4 Bedroom House: $746k (ranging from $257 to $1.7M)

These statistics may show a slight price decline...but let's highlight the opportunity here:

There are TREMENDOUS opportunities here to buy. There should be a sign that says "Arlington Real Estate On Sale" next to the "Welcome to Arlington" signs. See below:

Active Listings Below $200,000
In 2007: 49
In 2008: 76

Listings Sold Under $200,000
In 2007: 5
In 2008: 11

With interest rates below 5% for the first time in years!!!!! and prices like these....now really is the time to jump into buying.