The numbers are in for annual sales and growth for 2012 for the Arlington real estate market. What a year it was. Historically low interest rates, historically low inventory levels, and a huge demand from buyers lead to some pretty interesting activity and turns in our local market. We’ve now shifted into a sellers market because supply is just not keeping up with demand. Our absorption rate these days is about 2.5 months (absorption rate is the amount of time it would take to sell through current inventory). That’s well into a sellers market (a balanced market is 5-7 months).
2012 Year End Numbers
- Average Prices: UP 3.01%
- Median Prices: UP 3.9%
- Unit Sold: UP 17% (2,788)
- Days on the market: DOWN 8 (53)
- Average Sale Price of Original List Price: 97%
- 37% of all sales in 2012 sold within 10 days of going on the market….that number was 50% within 20 days