Arlington Virginia Real Estate Condo Market - September 2008

Here's a recap of the Arlington Condo Market for the month of September:

1 Bedroom, 1 Bath Units:
# of Units Sold: 20Average Days on the Market: 60Average Sale Price: $298,276Average Seller Subsidy: $3,721Average Net Effective Sale Price: $294,555
Range: $165,000 to $385,000

2 Bedroom, 2 Bath Units:
# of Units Sold: 10Average Days on the Market: 55Average Sale Price: $516,650Average Seller Subsidy: $2,599Average Net Effective Sale Price: $514,051
Range: $445,000 to $610,000

If you're interested in more information on specific buildings, locations, units, etc. i'm always here to help.

Northern Virginia Real Estate Market Update - September 2008

Sales reports are finally in for September here in Northern Virginia. This report includes all sales for Fairfax and Arlington counties, Alexandria, Falls Church, Fairfax, Vienna, Herndon, and Clifton.

Here's how September wrapped up:
Total # of Sales: 1,650
Average Days on the Market: 93
Absorption Rate: 5.52 months
Average Sale Price: $407,748 (down about 23% from 9/07)
YTD Average Sales Price: $465,891 (down about 14% from 9/07)

Arlington Market:
There were 202 sales in Arlington in the month of September.
Of those, only 12 were over $1m.
Only 68 of the remaining sales were over $500k.

What does this mean? High price homes are sitting longer in this market, as the crack down has really tightened up lending.

There are still some good deals happening here in Arlington, many with built in equity. Want to see what your options are?

Call me...703.283.6120