Real Estate Market in Arlington VA For The Month of August 2014

TABLE OF CONTENTS
Charts and Commentary .. Pages 1-2

Market Summary Table .. Page 3
Glossary ... Page 4
Su M Tu W Th F Sa
Sunday, August 31
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2014
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ARLINGTON COUNTY ARLINGTON COUNTY ARLINGTON COUNTY ARLINGTON COUNTY
REAL ESTATE MARKET REPORT
Tania Ivey & Marc Cormier
Keller Williams Realty
2101 Wilson Boulevard Suite 100
Arlington, VA 22201
www.Help2ownaHome.com
www.MarcCormier.me
Marc@Help2ownaHome.Com
Tania.ivey@gmail.com
301 660-6272
703 564-4026
mddcvahotprops
https://www.facebook.com/pages/Fairfax-County-Luxu
Real Market Reports
www.RealMarketReports.com
Taking a closer look, we notice that
the $600K - $800K price range has a
relatively large number of contracts
pending sale.
We also notice that the $0K - $200K
price range has a relatively large
inventory of properties for sale at 114
listings. The median list price (or
asking price) for all properties in this
market is $777,000.
A total of 748 contracts have closed in
the last 6 months with a median sold
price of $781,725. Breaking it down,
we notice that the $600K - $800K price
range contains the highest number of
sold listings.
Alternatively, a total of 320 listings
have failed to sell in that same period
of time. Listings may fail to sell for
many reasons such as being priced
too high, having been inadequately
marketed, the property was in poor
condition, or perhaps the owner had
second thoughts about selling at this
particular time. The $0K - $200K price
range has the highest number of off-
market listings at 63 properties.
"Current inventory is described
as mildly active."
at the real estate market. Currently
there are 135 sales pending in the
market overall, leaving 380 listings still
for sale. The resulting pending ratio is
26.2% (135 divided by 515). So you
might be asking yourself, that's great...
but what exactly does it mean? I'm
glad you asked!
The pending ratio indicates the supply
& demand of the market. Specifically,
a high ratio means that listings are in
demand and quickly going to contract.
Alternatively, a low ratio means there
are not enough qualified buyers for the
existing supply.
0
20
40
60
80
100
120
$
0
K
$
2
0
0
K
$
4
0
0
K
$
6
0
0
K
$
8
0
0
K
$
1
.
0
M
$
1
.
2
M
$
1
.
4
M
$
1
.
6
M
$
1
.
8
M
$
2
.
0
M
$
2
.
2
M
$
2
.
4
M
$
2
.
6
M
$
2
.
8
M
Properties For Sale
Contracts Pending
0
50
100
150
200
250
300
$
0
K
$
2
0
0
K
$
4
0
0
K
$
6
0
0
K
$
8
0
0
K
$
1
.
0
M
$
1
.
2
M
$
1
.
4
M
$
1
.
6
M
$
1
.
8
M
$
2
.
0
M
$
2
.
2
M
$
2
.
4
M
$
2
.
6
M
$
2
.
8
M
Sold
Off-Market
Arlington County
Number of Listings For Sale vs. Pending Contract
Arlington County
Num Sold vs. Off-Market (Last 6 mos.)
Let's take a look
1
Real Market Reports
Updated 8/31/2014, RealMarketReports.com
Copyright Tania Ivey & Marc Cormier
Sunday, August 31, 2014
Market Dashboard
301 660-6272
Analysis of the absorption rate
indicates an inventory of 3.0 months
based on the last 6 months of sales.
This estimate is often used to
determine how long it would take to
sell off the current inventory of
properties if all conditions remained
the same. It is significant to mention
that this estimate does not take into
consideration any additional properties
that will come onto the market in the
future.
Looking at the chart to the right, you
might be wondering why average days
on market (DOM) is important. This is
a useful measurement because it can
help us to determine whether we are
in a buyer's market (indicated by high
DOM), or a seller's market (indicated
by low DOM). Active listings
(properties for sale) have been on the
market for a median time of 42 days.
Analysis of sold properties for the last
six months reveals a median sold
price of $781,725 and 8 days on
market. Notice that properties in the
$2.4M - $2.6M price range have sold
quickest over the last six months.
The recent history of sales can be
seen in the two charts below. The
median sold price for the last 30 days
was $741,750 with a DOM of 11 days.
Since the recent DOM is greater than
the median DOM for the last 6 months,
it is a negative indicator for demand. It
is always important to realize that real
estate markets can fluctuate due to
many factors, including shifting interest
rates, the economy, or seasonal
changes.
Ratios are simple ways to express the
difference between two values such as
list price and sold price. In our case,
we typically use the list-to-sale ratio to
determine the percentage of the final
list price that the buyer ultimately paid.
It is a very common method to help
buyers decide how much to offer on a
property.
"The median list-to-sales ratio
for this area is 100.9%."
0
50
100
150
200
250
300
350
400
$
0
K
$
2
0
0
K
$
4
0
0
K
$
6
0
0
K
$
8
0
0
K
$
1
.
0
M
$
1
.
2
M
$
1
.
4
M
$
1
.
6
M
$
1
.
8
M
$
2
.
0
M
$
2
.
2
M
$
2
.
4
M
$
2
.
6
M
$
2
.
8
M
Sold
For Sale
$660K
$680K
$700K
$720K
$740K
$760K
$780K
$800K
$820K
$840K
Mar Apr May Jun Jul Aug
0
2
4
6
8
10
12
14
Mar Apr May Jun Jul Aug
Arlington County
Median Days on Market (DOM)
Arlington County
Median Days on Market (Sold)
Arlington County
Median Sold Prices
2
Real Market Reports
Market Dashboard
301 660-6272
A
M
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
M M
A A
M M
A A
M M
A A
M M
A A
M M
A A
M M
A
M
A
M
Date Range (Off-Market & Sold) = 03/02/2014 to 08/31/2014
Data believed to be accurate but not guaranteed.
3
4.3
14.6
7.5
30
2
1.6
3.7
4.7
0.9
1.6
1.2
Status = [1] ACTIVE; [2] CNTG/KO, CNTG/NO KO, CONTRACT; [3] EXPIRED, WITHDRN, TEMPOFF; [4] SOLD
County = ARLINGTON
PropertyType = Residential

781,725 $ 101%
865,073 $ 100%
Market Medians 42 777,000 $ 8 780,000 $ 775,000 $
320 748
Market Averages 56 818,836 $
Market Totals 380 135 26%
26 879,409 $ 869,103 $
0
3,635,975 $
1 20% 0
3,775,000 $
$2,800,000 + 4
80
72
93 2,775,000 $
0
2,748,333 $
0 0 $2,600,000 $2,799,999 3
88
2,469,210 $ 99%
339 2,450,000 $ 1 2,482,000 $ 2,482,000 $ 2,469,210 $ 99%
2
1 2,482,000 $ 2,482,000 $ 2,450,000 $
0 2 $2,400,000 $2,599,999 1
339
2,300,000 $ 92%
86 2,295,000 $ 38 2,500,000 $ 2,500,000 $ 2,300,000 $ 92%
1
38 2,500,000 $ 2,500,000 $ 2,317,400 $
1 17% 2 $2,200,000 $2,399,999 5
113
2,070,000 $ 98%
94 2,195,000 $ 52 2,167,000 $ 2,167,000 $ 2,075,000 $ 96%
4
68 2,107,000 $ 2,107,000 $ 2,174,200 $
0 2 $2,000,000 $2,199,999 5
89
1,885,857 $ 97%
100 1,895,000 $ 79 1,997,000 $ 1,990,000 $ 1,865,000 $ 94%
7
96 2,045,000 $ 1,952,142 $ 1,896,688 $
1 6% 20 $1,800,000 $1,999,999 17
118
1,696,435 $ 99%
78 1,699,900 $ 34 1,749,000 $ 1,737,000 $ 1,700,000 $ 98%
29
69 1,728,977 $ 1,717,771 $ 1,726,036 $
8 28% 12 $1,600,000 $1,799,999 21
86
1,467,338 $ 98%
80 1,495,000 $ 20 1,495,000 $ 1,495,000 $ 1,450,000 $ 97%
27
1,277,500 $ 100%
26%
1,284,679 $ 64 1,308,653 $
10
1,138,610 $
8
66 1,150,000 $
46 1,300,000 $
77
33 69 1,088,854 $
9 1,099,900 $
28%
1,089,000 $
248
701,650 $ 100%
896,882 $
19 26%
714,111 $
46 48% 59
$800,000 $999,999 54
51
707,000 $
$600,000 $799,999 50
42
35
28 47% 28
100%
515,033 $
9 519,450 $
507,654 $ 502,420 $ 99%
$400,000 $599,999 32
56
Price Range
Num
#
$200,000 $399,999 4
23 374,975 $
5 56%
Days
on
Market
Current
List
Price
A = Average Value
M = Median Value
N/A = Not Available
380 ACTIVE
[1]
List-
Sale
Ratio
Est.
Mos.
Low High
320 OFF-MARKET (last 6 mos)
[3]
ABSORPTION RATE
(months of inventory)
Num
#
Num
#
Num
#
748 SOLD/CLOSED (last 6 months)
[4]
Days
on
Market
Original
List
Price
Final
List
Price
Sold/
Closed
Price
MARKET SUMMARY TABLE
135 PENDING
[2]
$0 $199,999 114
35
25
Pend
Ratio
3,336 $
0
3,125 $
63 0
37 371,573 $ 364,453 $ 351,569 $ 96%
379,925 $ 374,975 $ 365,000 $ 97% 26 377,450 $ 16
118
25
43 534,000 $
5 26
528,698 $
499,950 $ 502,250 $
16 703,077 $ 699,158 $ 700,456 $ 100%
699,000 $ 698,200 $
8 895,000 $
881,818 $
6
888,900 $ 880,000 $ 99%
163
17
43 889,495 $
48
886,280 $ 101%
100%
1,299,180 $
99%
99%
1,493,467 $
44
893,512 $
1,111,162 $ 1,092,523 $
1,099,000 $
15 1,284,500 $ 1,277,500 $
8
47 1,510,059 $
1,319,116 $
34
1,499,119 $
$1,400,000 $1,599,999 21
76
$1,000,000 $1,199,999 21
$1,200,000 $1,399,999 28
3
46
23
28% 22
3
Real Market Reports
Market Summary Table
301 660-6272
Favors Sellers Favors Buyers
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 purchase
agreement.
b. Days on Market (DOM): The marketing period of currently active listings. This does not account for some listings
which 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 under
contract 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. Some
owners 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 Price
Final 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 of
inventory before counting the additional properties that will come on the market.
Real Market Reports
4
Glossary
301 660-6272

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TABLE OF CONTENTS

Charts and Commentary .. Pages 1-2

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