Housing Market Update | Arlington, Virginia | October 2022
There are currently 412 homes on the market in Arlington. Over the last 30 days, there were 204 homes sold. This leaves the Months of Supply for Arlington County at 2 months. This is up 5% from last month at 1.9 months.
Why is there more inventory? Interest rates went up close to 7%, slowing down buyer demand. This has resulted in properties taking longer to sell, thus creating more inventory. Because of that, we’ve seen 42 price reductions over the last 7 days.
If you’re a buyer - this is a great time to buy as most of our clients are getting full contingencies and below list price.
If you’re a seller - your marketing and preparation matters more than ever. Homes are still selling within the first week, but for the “cream of the crop” listings. Buyers are pickier than ever right now so your home really has to stand out and pop.💥
If you’re thinking about selling your home in the next year, and want to know what it takes to get your home sold in this shifting market OR if you’re a buyer looking to get a deal - send us a DM or message Blake@thedavenportgroupre.com
Want to check out what's currently on the market? Click here: http://bit.ly/2ScPnez
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At The Davenport Group, we are obsessed with delivering an unmatched real estate experience.
If you are looking to purchase or sell a home, we would be honored to help you find your place. 🏡
Contact us through: 📱Call/Text Direct (703)-350-8800 📧Email: firstname.lastname@example.org 💻Website: www.thedavenportgroupre.com
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