Arlington County Real Estate Market Report for Nov 3 2013

8/14/2019 Arlington County Real Estate Market Report for Nov 3 2013

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TABLE OF CONTENTS

Charts and Commentary .. Pages 1-2Market Summary Table .. Page 3Glossary ... Page 4

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ARLINGTON COUNTY ARLINGTON COUNTY ARLINGTON COUNTY ARLINGTON COUNTY EAL ESTATE MARKET REPORT

Tania Ivey & Marc CormierKeller Williams Realty2101 Wilson Boulevard Suite 100Arlington, VA 22201www.Help2ownaHome.comwww.MarcCormier.meMarc@[email protected] 660-6272703 564-4026

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Taking a closer look, we notice ththe $600K - $800K price range hasrelatively large number of contractpending sale.

We also notice that the $0K - $200price range has a relatively larginventory of properties for sale at 8listings. The median list price (asking price) for all properties in thmarket is $725,000.

A total of 786 contracts have closed ithe last 6 months with a median solprice of $755,500. Breaking it dowwe notice that the $600K - $800K pricrange contains the highest number osold listings.

Alternatively, a total of 304 listin

have failed to sell in that same perioof time. Listings may fail to sellmany reasons such as being pricedtoo high, having been inadequatelmarketed, the property was in poocondition, or perhaps the owner hadsecond thoughts about selling at thiparticular time. The $0K - $200K prirange has the highest number of offmarket listings at 68 properties.

"Current inventory is describedas mildly active."

at the real estate market. Currentlythere are 124 sales pending in themarket overall, leaving 319 listings stillfor sale. The resulting pending ratio is28.0% (124 divided by 443). So youmight be asking yourself, that's great...but what exactly does it mean? I'mglad you asked!

The pending ratio indicates the supply& demand of the market. Specifically,a high ratio means that listings are indemand and quickly going to contract.Alternatively, a low ratio means thereare not enough qualified buyers for theexisting supply.

0102030405060708090

100

$ 0 K

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$ 6 0 0 K

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Properties For Sale

Contracts Pending

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$ 0 K

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SoldOff-Market

Arlington County

Number of Listings For Sale vs. Pending Contract

Arlington County Num Sold vs. Off-Market (Last 6 mos.)

et's take a look

1Real Market Reportswww.RealMarketReports.com

Updated 11/3/2013, RealMarketReports.comCopyright Tania Ivey & Marc Cormi

Updated 11/3/2013, RealMarketReports.comCopyright Tania Ivey & Marc Cormier

Sunday, November 3, 2013

Market Dashboa

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Analysis of the absorption raindicates an inventory of 2.4 monthbased on the last 6 months of sales.This estimate is often used tdetermine how long it would takesell off the current inventory

properties if all conditions remainethe same. It is significant to mentiothat this estimate does not take intoconsideration any additional propertiethat will come onto the market in thfuture.

Looking at the chart to the right, youmight be wondering why average dayson market (DOM) is important. This isa useful measurement because it canhelp us to determine whether we aren a buyer's market (indicated by high

DOM), or a seller's market (indicatedby low DOM). Active listings(properties for sale) have been on themarket for a median time of 44 days.

Analysis of sold properties for the lastsix months reveals a median soldprice of $755,500 and 8 days on

market. Notice that properties in the$2.0M - $2.2M price range have soldquickest over the last six months.

The recent history of sales can beseen in the two charts below. Themedian sold price for the last 30 dayswas $745,000 with a DOM of 8 days.

Since the recent DOM is greater thanthe median DOM for the last 6 months,t is a negative indicator for demand. It

s always important to realize that realestate markets can fluctuate due tomany factors, including shifting interestrates, the economy, or seasonalchanges.

Ratios are simple ways to express thedifference between two values such aslist price and sold price. In our case,

we typically use the list-to-sale ratio todetermine the percentage of the finallist price that the buyer ultimately paid.It is a very common method to helpbuyers decide how much to offer on aproperty.

"The median list-to-sales ratio for this area is 100.7%."

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SoldFor Sale

$680K

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Jun Jul Aug Sep Oct Nov02468

101214

Jun Jul Aug Sep Oct N

Arlington County Median Days on Market (DOM)

Arlington County Median Days on Market (Sold)

Arlington County Median Sold Prices


Updated 11/3/2013, RealMarketReports.comCopyright Tania Ivey & Marc Cormie

Copyright Tania Ivey & Marc CormierUpdated 11/3/2013, RealMarketReports.com

Copyright Tania Ivey & Marc CormieUpdated 11/3/2013, RealMarketReports.com


Market Dashboa

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A A

M M

A A

M M

A A

M M

A A

M M

A A

M M

A A

M M

A A

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A A

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Date Range (Off-Market & Sold) = 05/05/2013 to 11/03/2013Data believed to be accurate but not guaranteed.

Status = [1] ACTIVE; [2] CNTG/KO, CNTG/NO KO, CONTRACT; [3] EXPIRED, WITHDRN, TEMPOFF; [4] SOLDCounty = ARLINGTONPropertyType = Residential

755,500$ 101%

817,826$ 99%

Market Medians 44 725,000$ 8 750,000$ 749,999$

304 786

Market Averages 59 796,235$

Market Totals 319 124 28%

25 835,047$ 823,676$

4,995,000$ 4,500,000$ 90%1

287

287 4,995,000$

4,500,000$ 90%4,995,000$ 4,995,000$3,623,333$0 1

3,650,000$$2,800,000 + 3

104

38

2,750,000$ 96%

18 2,695,777$ 69 2,850,000$ 2,850,000$ 2,750,000$ 96%1

69 2,850,000$ 2,850,000$2,681,926$0 2$2,600,000 $2,799,999 3

196

2,523,750$ 97%53 2,475,000$ 2,595,000$ 2,595,000$ 2,523,750$ 97%

12,595,000$ 2,595,000$2,475,000$

0 1$2,400,000 $2,599,999 153

00 2$2,200,000 $2,399,999 0

2,005,000$ 94%

52 2,185,000$ 15 2,197,500$ 2,124,500$ 2,005,000$ 94%2

15 2,197,500$ 2,124,500$2,149,600$1 17% 4$2,000,000 $2,199,999 5

59

1,872,293$ 99%104 1,897,000$ 63 1,989,000$ 1,895,000$ 1,847,000$ 97%

7 69 1,968,286$ 1,896,843$1,920,363$ 3 27% 6$1,800,000 $1,999,999 8 103

1,701,857$ 99%

112 1,737,450$ 26 1,725,000$ 1,725,000$ 1,710,000$ 99%7

38 1,742,114$ 1,727,700$1,729,619$7 30% 12$1,600,000 $1,799,999 16

111

1,468,176$ 98%72 1,495,900$ 31 1,542,000$ 1,499,495$ 1,459,950$ 97%

22

1,275,000$ 98%21%

1,278,531$83 1,329,211$8

1,115,491$17

45 1,100,000$

79 1,349,000$

674069 1,101,359$

16 1,150,000$41%

1,094,000$

295 704,000$ 101%892,923$

23 43%

712,677$34 43% 64

$800,000 $999,999 3157

699,000$$600,000 $799,999 4655

45

23 37% 28100%

515,443$

7 520,000$

507,842$ 510,526$ 101%$400,000 $599,999 39

33

Price Range Num#

95%

$200,000 $399,999 727 361,950$

6 46%

Dayson

Market

CurrentList

Price

A = Average ValueM = Median ValueN/A = Not Available

319 ACTIVE [1]

List-SaleRatio

EMLow High

304 OFF-MARKET (last 6 mos) [3] ABSORPTION RAT(months of inventory)

Num#

Num#

Num#

786 SOLD/CLOSED (last 6 months) [4]

Dayson

Market

OriginalList

Price

FinalList

Price

Sold/ ClosedPrice

MARKET SUMMARY TABLE 124 PENDING [2]

$0 $199,999 8741

32

PendRatio

3,474$1 1%

3,250$68 1

185,130$

185,130$

185,130$ 175,000$ 95%185,130$ 175,000$

19 345,133$ 335,844$ 333,032$ 99%349,950$ 349,450$ 342,500$ 98%22 379,950$ 7

12922

23 549,000$

6 36

523,459$

519,000$ 519,000$

16 708,849$ 703,508$ 701,913$ 100%700,000$ 699,900$

8 897,125$

883,941$

7

889,500$ 881,250$ 99%164

22

45 897,000$55

884,567$ 100%

98%

1,300,571$

97%

98%

1,495,636$

43

895,460$

1,146,579$ 1,122,773$

1,125,000$

19 1,299,000$ 1,299,000$

174 1,539,091$

1,316,805$17

1,497,932$$1,400,000 $1,599,999 19

81

$1,000,000 $1,199,999 24

$1,200,000 $1,399,999 30

53

25

5% 13



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1. PROPERTIES FOR SALE (ACTIVE)

a. Number Active: The number of listings for sale which are currently being marketed but do not yet have a purchaseagreement.

b. Days on Market (DOM): The marketing period of currently active listings. This does not account for some listingswhich have had a previous listing period, but were re-entered as a new listing.

c. Current List Price: The price that a property seller is currently asking.

2. CONTRACTS PENDING

a. Number Pending: The number of current listings for which a contract has been signed but has not yet closed.

b. Pending Ratio: Sometimes called a list-to-pending ratio. This is a measure of how fast properties are going undercontract vs. how fast they are being listed.

Pending Ratio = P (Number of Pending Listings)A+P (Number of Active + Pending)

(P) represents properties that buyers have chosen(A+P) represents the entire pool from which they have chosen

3. OFF-MARKET

a. Number Off-Market: The number of listing agreements that have failed to close in the last 6 months. Someowners may choose to re-offer their property for sale.

4. PROPERTIES SOLD (CLOSED CONTRACT)

a. Number Sold: The number of properties that have gone to a closing in the last 6 months.

b. Days on Market (DOM): The marketing time it has taken properties to sell in the last 6 months.

c. Original List Price: The price at which a sold property was originally marketed.

d. Final List Price: The price at which a sold property was marketed just prior to selling.

e. Sold/Closed Price: The price for which a property sold.

f. List to Sales Ratio: The percentage of the list price that the buyer ultimately paid for the property.

List to Sales Ratio = Sold PriceFinal List Price

5. ABSORPTION RATE / MONTHS OF INVENTORY

a. Absorption Rate / Months of Inventory: An estimate of how fast listings are currently selling measured in months.For example, if 100 properties sell per month and there are 800 properties for sale - there is an 8 month supply ofinventory before counting the additional properties that will come on the market.

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Arlington County Real Estate Market Report for Nov 3 2013

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