The View from South of the Potomac River: The Shirlington Report ~ November 2009

The Shirlington Report ~ November 2009

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 Shirlington Report ~ November 2009

  

 

 

 

 

 

 

 

 

 

 

 

 

 

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. 

 

Shirlington Solds by Price Range

 

 

 

 

 

 

 

 

 

 

 

 

 

 

* 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.

 

AJ Heidmann ~ CRS,  ABR

Cell 703-474-1260 ~ Office 703-717-6324 ~ Fax 703-839-8283

AJ@AJHeidmann.com

www.AJHeidmann.com

McEnearney Associates, Inc.

4720 Lee Highway, Arlington, VA  22207

Licensed in Virginia

Comment balloon 4 commentsAJ Heidmann ~ CRS • December 04 2009 12:01PM

Comments

Wuld love to see an update on these stats

your friend in Charlottesville Virginia!

Posted by Charles McDonald, REALTOR®, Blogger, Principal Broker®, Owner (Charlottesville Real Estate Solutions) about 10 years ago

I am seeing some strong stable numbers for Shirlington!

Posted by Renée Donohue~Home Photography, Western Michigan Real Estate Photographer (Savvy Home Pix) almost 10 years ago

Have you seen buyer numbers drop down since the expiration of the tax credit?

Posted by Renée Donohue~Home Photography, Western Michigan Real Estate Photographer (Savvy Home Pix) over 9 years ago

Renee - There has been a definite drop off in showings, open house attendance, and units going under contract since the end of the tax credit.  It probably isn't to the extent that other areas of the country are experiencing, because of the insulating factor of the Federal government and military presence locally, but it is noticeable.  Additionally, there has been an increase of units for sale being withdrawn from the MLS and rented instead, while new listings that are coming on at lower sales prices for appraisal purposes unless they have been renovated to the nines. 

Posted by AJ Heidmann ~ CRS, YOUR Alexandria & Arlington, VA Real Estate Expert (McEnearney Associates, Inc.) over 9 years ago

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