Finding a Home in a Seller’s Market

In a seller’s market, what’s online right now may not be there tomorrow. In fact, the information on many listings may be out of date the instant they’re posted. That’s where your real estate agent comes in. Your agent can get updates and information as it’s happening—before it shows up on the web. Watch the video below to find out more.

 

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North Arlington (Orange Line) Condo Update: May 2013

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).

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 16, 2013
Average List Price $296,960 $476,080
Number of Active Listings 33 28
Average Property DOM(P) – Actives 25 49
SOLD LISTINGS for April 2013
Average Sold Price for Previous Month (does not include seller subsidies) $324,752 $501,213
Number of Sold Listings in Previous Month 27 23
Average Property DOM(P) – Solds 11 22
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Seller’s Market Heats Up

In the last several years, most areas have been in a buyer’s market. However, with inventory at the lowest supply since 2005, chances are most of us are now in a seller’s market. So what does this mean to you?

According to KW research, 89 percent of buyers start their home search on the internet. While that figure’s not surprising, it’s important to note that in a seller’s market, what’s online right now may not be there tomorrow. That’s where your real estate agent comes in. Your agent can get updates and information as it’s happening—before it shows up on the web!

 

Seller’s Market

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North Arlington (Orange Line) Condo Update: April 2013

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).

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 12, 2013
Average List Price $283,955 $599,242
Number of Active Listings 22 27
Average Property DOM(P) – Actives 35 36
SOLD LISTINGS for March 2013
Average Sold Price for Previous Month (does not include seller subsidies) $314,852 $511,142
Number of Sold Listings in Previous Month 25 20
Average Property DOM(P) – Solds 18 10
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Price It Right

According to KW research almost half of sellers who price their house according to their real estate agents’ interpretation of its market value sold almost twice as fast and for more money than the competition.

If you’re selling your house, the idea of pricing high to test the waters might sound appealing. But if your house is priced too high, you may be highlighting for buyers what a steal the house down the street is.

 

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