This regularly-scheduled sponsored Q&A column is written by Adam Gallegos of Arlington-based real estate firm Arbour Realty, voted one of Arlington Magazine’s Best Realtors of 2013. Please submit follow-up questions in the comments section or via email.
Question: I’ve heard that the Arlington real estate market it is in full rebound. Is that the case for the entire Arlington market or just certain price ranges or types of homes?
Personally, I’ve been experiencing a high amount of activity in every segment of the Arlington real estate market since the start of 2013. In order to answer your question I am going to dissect the actual sales data from the local MLS for the first quarter of 2013.
First I am going to break down the various price points by the number of sales that occurred, average days on market (DOM) and the average list price to sales price ratio.
Some observations based on this data:
A common misconception among people new to Arlington real estate is that 1 bedroom condos are going to be a lot harder to sell than 2 bedroom condos. This simply is not the case. It’s true that more people would prefer 2 bedrooms, but fewer people can afford them. The result is that they both do pretty well.
Another comparison is between condos, townhouses and single family houses (SFH).
To answer your question, the higher you go on price the longer it is taking homes to sell and the more negotiation room you may find. That said, the entire Arlington real estate market looks pretty healthy.
Please reach out to me if you interested in more information about particular niche of the market.
The views and opinions expressed in the column are those of the author and do not necessarily reflect the views of ARLnow.com.