The Shirlington Report
~ November 2009 ~
It was a busy month for settlements of Shirlington real estate with 33 units reaching that milestone, presumably in part due to November 30th being the deadline of the original 1st Time Homebuyer Tax Credit. New condo listings hitting the market in November were down by almost half from October at 18, the normal seasonal slowdown appears to on track, bringing total amount of active listings to 47 which matched the previous month's number. New this month, contingent offers with unresolved contingencies have been separated from those units fully under contract. Surprisingly, not a single unit in the market report area is in that full contract status; either it settled in November or is working with a relatively fresh offer, which further supports the effect of the tax credit in this market.
The unknown aspect this year is the extension & expansion of the Home Buyer Tax Credit and it will be interesting to see if that motivates buyers to stay focused during the holidays. There is ample inventory and many sellers may be in more of a deal making mood the further we get into holiday season.
* Information taken from the MRIS system deemed reliable, but not guaranteed.
** For the purposes of this report, the Shirlington area includes the following condominium associations: Courtbridge I & II, Heatherlea, ParkFairfax, Shirlington Village, The Arlington, Windgates I, II & III, and all Fairlington communities.