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January 2023 Vs December 2022
Welcome to The Stillwell Group Market Update, I’m Lee Stillwell.
If you’re thinking about buying or selling residential real estate, it’s important to understand the current market trends.
According to Bright MLS, the marketplace for Arlington, VA residential properties, here’s what happened in January 2023 Vs December 2022:
The number of sold listings Decreased 21% to 34 properties with a top sale of $2.4 million at 6623 32nd St N
The Average Sales Price Increased 20% to $1.2 million and the Average Price Per Square Foot is $433.
The inventory of properties available for sale is measured in month supply and it Increased 29% to 2.68 month worth of properties for sale.
The end of the year 30-year fixed mortgage rate is at an average rate of 6.1% according to Freddiemac.com
If you’re thinking about buying or selling residential real estate now or in the near future, it’s important to seek the guidance and advice of a professional real estate agent.
Thanks for tuning in, we’ll see you in the next Stillwell Group Market Update.
