As we approach the holiday season, Arlington’s real estate market is transitioning into its typical year-end slowdown. Despite a slight dip in activity, this time of year offers unique opportunities for buyers and strategic planning for sellers. Let’s dive into the November 2024 market trends and key insights.
Market Snapshot: November 2024
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Active Listings: 259 homes currently on the market
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Closed Sales (Last 30 Days): 139 homes sold
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Months of Supply: 1.9, a 12% increase from October
The slight rise in inventory indicates a modest softening in market competition. However, with 10% fewer homes available compared to last month, inventory remains tight, signaling that motivated buyers still need to act quickly.
Recent Market Trends
For homes that closed in the past month:
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Median Days on Market: 13 days — properties are taking a bit longer to sell compared to earlier in the year.
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Average Offers per Property: 0.8 — fewer multiple-offer situations, with only 43% of homes receiving more than one offer.
These trends reflect the seasonal tapering of both supply and demand, providing a more balanced market for buyers and sellers.
Advice for Buyers
The end of the year is a prime time to secure a great deal in Arlington. With fewer competing buyers in the market, there’s increased potential for negotiating favorable terms.
To help you navigate the process, we’re hosting a Home Buying Workshop on December 10th. This session is designed to equip you with the knowledge and strategies you need to succeed in today’s market.
Advice for Sellers
If you’re planning to sell, timing is everything. While the current market is steady, waiting until early 2025 could yield better results.
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Best Time to List: The second week of January offers an excellent opportunity to get ahead of the busy spring market.
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Peak Selling Season: March through April is ideal for maximizing competition and securing the best price and terms for your property.
Our team specializes in helping sellers prepare their homes to stand out in any market. From staging to marketing, we’ll guide you every step of the way.
Looking Ahead
Arlington’s November trends highlight the importance of strategic planning as we move into 2025. Whether you’re buying or selling, preparation and timing are key to success in this dynamic market.
Have questions or need personalized advice? We’re here to help! 📩 Email us at blake@thedavenportgroup.com or click the link below to contact us.