The Wethman Group’s Real Estate News

May 2017

Greetings!

The Spring market is in full swing, with lots of activity on the buyer side, but the real story is still low inventory. The median sales price in our area reached the highest on record  for the second month in a row, easily beating last April’s record by 4.1%, and up 3.9% from last month. However, new pending sales were down 8.3% from this time last year, and down 2.5% from last month, coming in under the 5 year April average. So what gives? Inventory!
April new listings were down 13% from April last year and down 6.7% from last month! This is below both the 5 and 10 year April average, but still above the 10 year low we saw in 2012.
This low inventory means the market is moving FAST as buyers are competing for the listings that DO hit the market. Average Days on Market for April was 10! That’s down from 14 days last April and from 15 days last month.
We’re still seeing multiple bids on most properties that are priced to sell, and significant offers over asking in a few pockets of DC and Arlington. Even though the market is competitive, we have a lot of happy buyers right now! Making the most attractive offer isn’t just about competing on price. There are many components that play into the strategy of an offer. If you are thinking of buying, let us guide you on how to put your best foot forward in this hot market. Set up a conversation with one of our buyer agents to come up with a strategy that is tailored to your goals.
Thinking of selling? Now’s the time! Inventory declining now at the peak of the spring market is huge. Buyers are out and ready to move, but not finding many options. If you have been considering a change, start the conversation with our listing team to figure out your how to position your property to maximize your return.
House it Going? Real Estate Q&A Happy Hour: Tuesday, May 23rd in Clarendon
 
Questions about Buying or Selling? Just want more information about what we are seeing in the housing market? Join Katie for an informal chat over drinks at Spirits of ’76 Tuesday, May 23rd. Stop by with your questions any time between 5-7pm.

Clients and Friends Who Have Referred to Us
SAVE THE DATE: Baseball Event, Sunday, July 9th
Mark your calendars for Sunday, July 9th, and watch your mail for more details on reserving your tickets.
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As always, if you or someone you know has a real estate need please reach out. We’re here to help!
The Wethman Group
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North Arlington (Orange Line) Condo Update: November 2015

Welcome to the latest installment of the North Arlington condo update. Included in the stats are active listings and sales in zip codes 22201 and 22203 (includes Ballston, Virginia Square, Clarendon).

  • Sign up for a market conditions report.
  • See market data for all of Arlington.
  • See more Buyer Resources.
  • See last month’s post on Orange Line Condo prices.
  • Ready to start your search?  Sign up for a free first time home buyer class in Arlington (registration required).
  • Contact us for more information.

Source: MRIS. Information deemed reliable but not guaranteed. Stats exclude retirement communities and co-ops.

1-Br Units 2-Br Units
Active Listings as of  December 16, 2015
Average List Price

$307,523

$476,908

Number of Active Listings

53

45

Average Property DOM(P) – Actives

102

87

SOLD LISTINGS for November 2015
Average Sold Price for Previous Month (does not include seller subsidies)

$314,433

$547,584

Number of Sold Listings in Previous Month

20

10

Average Property DOM(P) – Solds

83

68

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North Arlington (Orange Line) Condo Update: October 2015

Welcome to the latest installment of the North Arlington condo update. Included in the stats are active listings and sales in zip codes 22201 and 22203 (includes Ballston, Virginia Square, Clarendon).

  • Sign up for a market conditions report.
  • See market data for all of Arlington.
  • See more Buyer Resources.
  • See last month’s post on Orange Line Condo prices.
  • Ready to start your search?  Sign up for a free first time home buyer class in Arlington (registration required).
  • Contact us for more information.

Source: MRIS. Information deemed reliable but not guaranteed. Stats exclude retirement communities and co-ops.

1-Br Units 2-Br Units
Active Listings as of  November 16, 2015
Average List Price

$300,174

$474,556

Number of Active Listings

56

48

Average Property DOM(P) – Actives

92

98

SOLD LISTINGS for October 2015
Average Sold Price for Previous Month (does not include seller subsidies)

$354,478

$540,806

Number of Sold Listings in Previous Month

14

24

Average Property DOM(P) – Solds

64

38

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North Arlington (Orange Line) Condo Update: September 2015

Welcome to the latest installment of the North Arlington condo update. Included in the stats are active listings and sales in zip codes 22201 and 22203 (includes Ballston, Virginia Square, Clarendon).

  • Sign up for a market conditions report.
  • See market data for all of Arlington.
  • See more Buyer Resources.
  • See last month’s post on Orange Line Condo prices.
  • Ready to start your search?  Sign up for a free first time home buyer class in Arlington (registration required).
  • Contact us for more information.

Source: MRIS. Information deemed reliable but not guaranteed. Stats exclude retirement communities and co-ops.

1-Br Units 2-Br Units
Active Listings as of  October 12, 2015
Average List Price

$301,588

$500,590

Number of Active Listings

60

55

Average Property DOM(P) – Actives

85

90

SOLD LISTINGS for September 2015
Average Sold Price for Previous Month (does not include seller subsidies)

$342,597

$486,752

Number of Sold Listings in Previous Month

19

23

Average Property DOM(P) – Solds

38

93

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North Arlington (Orange Line) Condo Update: August 2015

Welcome to the latest installment of the North Arlington condo update. Included in the stats are active listings and sales in zip codes 22201 and 22203 (includes Ballston, Virginia Square, Clarendon).

  • Sign up for a market conditions report.
  • See market data for all of Arlington.
  • See more Buyer Resources.
  • See last month’s post on Orange Line Condo prices.
  • Ready to start your search?  Sign up for a free first time home buyer class in Arlington (registration required).
  • Contact us for more information.

Source: MRIS. Information deemed reliable but not guaranteed. Stats exclude retirement communities and co-ops.

1-Br Units 2-Br Units
Active Listings as of  September 16, 2015
Average List Price

$297,435

$484,991

Number of Active Listings

65

60

Average Property DOM(P) – Actives

95

76

SOLD LISTINGS for August 2015
Average Sold Price for Previous Month (does not include seller subsidies)

$364,533

$533,754

Number of Sold Listings in Previous Month

21

24

Average Property DOM(P) – Solds

28

48

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North Arlington (Orange Line) Condo Update: July 2015

Welcome to the latest installment of the North Arlington condo update. Included in the stats are active listings and sales in zip codes 22201 and 22203 (includes Ballston, Virginia Square, Clarendon).

  • Sign up for a market conditions report.
  • See market data for all of Arlington.
  • See more Buyer Resources.
  • See last month’s post on Orange Line Condo prices.
  • Ready to start your search?  Sign up for a free first time home buyer class in Arlington (registration required).
  • Contact us for more information.

Source: MRIS. Information deemed reliable but not guaranteed. Stats exclude retirement communities and co-ops.

1-Br Units 2-Br Units
Active Listings as of  August 18, 2015
Average List Price

$271,297

$469,139

Number of Active Listings

56

59

Average Property DOM(P) – Actives

109

87

SOLD LISTINGS for July 2015
Average Sold Price for Previous Month (does not include seller subsidies)

$335,300

$589,170

Number of Sold Listings in Previous Month

33

23

Average Property DOM(P) – Solds

30

26

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North Arlington (Orange Line) Condo Update: June 2015

Welcome to the latest installment of the North Arlington condo update. Included in the stats are active listings and sales in zip codes 22201 and 22203 (includes Ballston, Virginia Square, Clarendon).

  • Sign up for a market conditions report.
  • See market data for all of Arlington.
  • See more Buyer Resources.
  • See last month’s post on Orange Line Condo prices.
  • Ready to start your search?  Sign up for a free first time home buyer class in Arlington (registration required).
  • Contact us for more information.

Source: MRIS. Information deemed reliable but not guaranteed. Stats exclude retirement communities and co-ops.

1-Br Units 2-Br Units
Active Listings as of  July 15, 2015
Average List Price

$280,632

$472,451

Number of Active Listings

61

55

Average Property DOM(P) – Actives

87

63

SOLD LISTINGS for June 2015
Average Sold Price for Previous Month (does not include seller subsidies)

$364,673

$498,494

Number of Sold Listings in Previous Month

34

37

Average Property DOM(P) – Solds

30

39

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North Arlington (Orange Line) Condo Update: April 2015

Welcome to the latest installment of the North Arlington condo update. Included in the stats are active listings and sales in zip codes 22201 and 22203 (includes Ballston, Virginia Square, Clarendon).

  • Sign up for a market conditions report.
  • See market data for all of Arlington.
  • See more Buyer Resources.
  • See last month’s post on Orange Line Condo prices.
  • Ready to start your search?  Sign up for a free first time home buyer class in Arlington (registration required).
  • Contact us for more information.

Source: MRIS. Information deemed reliable but not guaranteed. Stats exclude retirement communities and co-ops.

1-Br Units 2-Br Units
Active Listings as of  May 20, 2015
Average List Price

$263,051

$484,679

Number of Active Listings

47

62

Average Property DOM(P) – Actives

85

74

SOLD LISTINGS for April 2015
Average Sold Price for Previous Month (does not include seller subsidies)

$357,546

$572,775

Number of Sold Listings in Previous Month

27

27

Average Property DOM(P) – Solds

47

23

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North Arlington (Orange Line) Condo Update: March 2015

Welcome to the latest installment of the North Arlington condo update. Included in the stats are active listings and sales in zip codes 22201 and 22203 (includes Ballston, Virginia Square, Clarendon).

  • Sign up for a market conditions report.
  • See market data for all of Arlington.
  • See more Buyer Resources.
  • See last month’s post on Orange Line Condo prices.
  • Ready to start your search?  Sign up for a free first time home buyer class in Arlington (registration required).
  • Contact us for more information.

Source: MRIS. Information deemed reliable but not guaranteed. Stats exclude retirement communities and co-ops.

1-Br Units 2-Br Units
Active Listings as of  April 16, 2015
Average List Price

$301,262

$500,984

Number of Active Listings

53

60

Average Property DOM(P) – Actives

67

56

SOLD LISTINGS for March 2015
Average Sold Price for Previous Month (does not include seller subsidies)

$338,283

$537,096

Number of Sold Listings in Previous Month

19

23

Average Property DOM(P) – Solds

59

19

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North Arlington (Orange Line) Condo Update: February 2015

Welcome to the latest installment of the North Arlington condo update. Included in the stats are active listings and sales in zip codes 22201 and 22203 (includes Ballston, Virginia Square, Clarendon).

  • Sign up for a market conditions report.
  • See market data for all of Arlington.
  • See more Buyer Resources.
  • See last month’s post on Orange Line Condo prices.
  • Ready to start your search?  Sign up for a free first time home buyer class in Arlington (registration required).
  • Contact us for more information.

Source: MRIS. Information deemed reliable but not guaranteed. Stats exclude retirement communities and co-ops.

1-Br Units 2-Br Units
Active Listings as of  March 12, 2015
Average List Price

$286,838

$501,973

Number of Active Listings

45

48

Average Property DOM(P) – Actives

83

63

SOLD LISTINGS for February 2015
Average Sold Price for Previous Month (does not include seller subsidies)

$296,900

$490,679

Number of Sold Listings in Previous Month

14

15

Average Property DOM(P) – Solds

65

48

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