Here's an anecdote from a local real estate agent (who uses terms like "freaked-out investors"). "A bomb of sorts just hit the orange line Arlington VA condo market. It's called 1800 WILSON condominium. Many owners just lost $25,000+ instantly...."
These are statistics (from MRIS) for Arlington County, from February of 2007 and prior years. It is amazing how inventory has grown, although the inventory-to-sales ratio isn't nearly as dramatic as it is in the outer-lying counties.
Year: 2007
Sales: 205
Active Listings: 723
Year: 2006
Sales: 175
Active Listings: 753
Year: 2005
Sales: 199
Active Listings: 211
Year: 2004
Sales: 207
Active Listings: 201
Year: 2003
Sales: 228
Active Listings: 281
Year: 2002
Sales: 194
Active Listings: 237
Year: 2001
Sales: 187
Active Listings: 272
Year: 2000
Sales: 125
Active Listings: 345
Year: 1999
Sales: 155
Active Listings: 605
Wednesday, March 28, 2007
Arlington County
Posted by Harriet at 9:16 AM
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2 comments:
Would you like to suggest a better term for the disullusioned investors? Feel free to provide one (some). :)
I do post regularly about overpriced condo listings. You can approach me on that if you'd like sometime as fodder to write about. example: http://www.justnewlistings.com/arlington-virginia-blog/jay-seville/latest-round-of-overpriced-condos-in-arlington-clarendon-ballston/show/
jay
Jay -
I thought "freaked-out investors" was a fine term.
How about, the "Run Away! Run Away! Speculators" :-)
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