Where is the real estate market headed?
On today's market update, Blake Davenport from The Davenport Group is discussing how the market is shifting back to a more normal market.
There are currently 385 homes for sale on the market in Arlington, VA. Over the last 30 days, 210 homes sold in Arlington. This brings us to 1.9 months of supply. This compares to 1.8 months of supply last month in August. So, historically speaking, the market is still a strong sellers market where we normally hover around 2.5 months of supply in Arlington County.
But, homes are definitely taking longer to sell. Over the last 7 days, we saw 42 price reductions. This means it is an ideal time to be a buyer in comparison to the Spring. If you'd like to sit down with us and learn more about the buying and selling process, send us a dm or message Blake at Blake@thedavenportgroupre.com
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