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Mixed Signals in Local Real Estate Market

What’s going on in the local real estate market? Depends on who you ask.

According to real estate web site Zillow, real estate list prices in Arlington were up 8.6 percent year-over-year in April, but the web site’s estimate of home values in Arlington was down 2.5 percent year-over-year as of March. That’s consistent with a nationwide downward trend, as reported by the Wall Street Journal.

According to an accounting by the Sun Gazette, home sales in Arlington are down while both average and median sale prices were down year-over-year in April. By contrast, Northern Virginia as a whole saw a continued rise in sale prices.

According to Realtor Laura Rubinchuk’s Arlington VA Real Estate News blog, however, home inventory in Arlington is down while demand and median prices are up. But, she says, there are some homes that just aren’t selling.

“I wish I had an explanation for what the heck is going on in the market right now, but I can’t seem to find a pattern,” she wrote.

Flickr pool photo by Christopher Doorley

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