Blake Davenport of The Davenport Group and RLAH Real Estate is here with your Arlington County real estate market update for December 2023. Discover the latest in real estate trends and what they mean for you in today's dynamic market. 🏠💼
With 267 homes up for grabs and 146 homes sold in the last month, Arlington County's current inventory supplies 1.8 months of homes - showing 18% down from the previous month. We believe this is due to the time of year and interest rates being the in mid 6% 📈
🔍 Recap of 2023:
- Supply and demand issue despite higher interest rates
- 2783 homes listed in 2023 vs 3629
- Roughly 23% less homes this year
- Median Price 2022 - 650,000 vs 685,000 - 5.4% increase
👀Outlook for 2024
- Average price in Arlington County went up 2.3% from Fall 2022 to Spring 2023
🔑 For Buyers: The coming month may be your golden window to find a deal before the spring market surge. Be sure to join our Home Buying Workshop on January 17th for insights on making a successful purchase. Click here to register: https://www.eventbrite.com/e/discover-arlington-the-davenport-group-virtual-home-buying-workshop-tickets-775702606377?aff=blog
🏡 For Sellers: The current market still leans in your favor, with promising months ahead for those looking to sell. Anticipate a competitive market as we approach January, perfect for capitalizing on your investment.
📞 Questions or thinking about selling? We're here to help. For a personalized consultation, contact us or reach out directly to Blake at blake@thedavenportgroupre.com
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For further information and to browse our listings, visit our website: https://thedavenportgrouprealestate.com