Here are the real estate statistics for Arlington, Va for June 2016. Note that these statistics are taken from MLS sales and will not include for sale by owner sales or person to person transactions.
Total volume is down year over year. If we look a little deeper into those numbers we’ll see that the price of detached homes is up, while the number of sold homes is down. Inventory is also down year over year so this tells us that sellers are getting more for their homes during a time of reduced inventory. The reduced inventory of detached homes is keeping the total sold volume down more then the prices.
The same cannot be said for attached homes (townhomes and condos). While the # of detached units sold went up, the prices came down almost 10%. This is a signal to buyers that now might be a time where you can negotiate a bit on that condo if the unit is priced at or above recent market. Sellers should also be cognizant of this trend when pricing their home. If you are looking for a quick sale, consider pricing your home at or just below market.
Statistics are available for other Northern Virginia counties as well as Washington, DC. If you are interested in these numbers send me an email at firstname.lastname@example.org or call 571-228-5656 and I will get you the stats.