The following statistics were gathered from the MSPIN database. They are the single family transaction numbers for Arlington over the last three months (1/23/10 to 4/23/10). This period is the first half of the 2010 spring market which should run through mid July.
This data set is hard evidence of what I have been describing to my clients as a very competitive spring market. Note that 4 of the 10 price categories and 18 out of the 44 transactions sold at 100% + of asking price. I have seen deal after deal sell in competitive bidding situations this spring and this market shift calls for a real adjustment on behalf of all you home-buyers out there. Unlike a few months ago you can no longer pursue good properties at a leisurely pace or assume significant leverage while negotiating and still close a deal at under market value. Buyers have to be much more prepared and much more aggressive to undercut the rising market.
Price Range: $300,000 - $349,999
# of Listings Sold: 2
Avg. Days on Market: 73
Average Sale Price: $339,500
Average List Price: $358,450
SP:LP Ratio: 95%
Average Orig Price: $394,450
SP:OP Ratio: 86%
Price Range: $350,000 - $399,999
# of Listings Sold: 5
Avg. Days on Market: 65
Average Sale Price: $380,200
Average List Price: $402,380
SP:LP Ratio: 95%
Average Orig Price: $420,380
SP:OP Ratio: 91%
Price Range: $400,000 - $449,999
# of Listings Sold: 12
Avg. Days on Market: 90
Average Sale Price: $423,767
Average List Price: $429,717
SP:LP Ratio: 99%
Average Orig Price: $449,725
SP:OP Ratio: 95%
Price Range: $450,000 - $499,999
# of Listings Sold: 4
Avg. Days on Market: 40
Average Sale Price: $473,225
Average List Price: $464,225
SP:LP Ratio: 102%
Average Orig Price: $469,225
SP:OP Ratio: 101%
Price Range: $500,000 - $599,999
# of Listings Sold: 8
Avg. Days on Market: 53
Average Sale Price: $568,875
Average List Price: $576,113
SP:LP Ratio: 99%
Average Orig Price: $592,125
SP:OP Ratio: 96%
Price Range: $600,000 - $699,999
# of Listings Sold: 7
Avg. Days on Market: 21
Average Sale Price: $644,143
Average List Price: $626,529
SP:LP Ratio: 103%
Average Orig Price: $632,114
SP:OP Ratio: 102%
Price Range: $700,000 - $799,999
# of Listings Sold: 2
Avg. Days on Market: 43
Average Sale Price: $706,500
Average List Price: $704,000
SP:LP Ratio: 100%
Average Orig Price: $729,000
SP:OP Ratio: 97%
Price Range: $800,000 - $899,999
# of Listings Sold: 1
Avg. Days on Market: 3
Average Sale Price: $839,000
Average List Price: $839,000
SP:LP Ratio: 100%
Average Orig Price: $839,000
SP:OP Ratio: 100%
Price Range: $900,000 - $999,999
# of Listings Sold: 1
Avg. Days on Market: 21
Average Sale Price: $949,000
Average List Price: $959,000
SP:LP Ratio: 99%
Average Orig Price: $959,000
SP:OP Ratio: 99%
Price Range: $1,00,000 - $1,499,999
# of Listings Sold: 2
Avg. Days on Market: 75
Average Sale Price: $1,108,500
Average List Price: $1,224,900
SP:LP Ratio: 91%
Average Orig Price: $1,224,950
SP:OP Ratio: 91%