Continuing to examine and hold a lively discussion of the Northern Virginia Real Estate market.
Harriet, thanks. Do you happen to know: Does this table mean that, for example, between May and June 15, 44% of the 948 houses in Arlington that were actively listed were reduced DURING that time? Or does it mean that 44% of the 948 houses have been reduced at SOME point during the time that they have been active, e.g., maybe a house still on the market in June was reduced in March, but not in June? I hope it's the former, as I believe many sellers are still in denial about market conditions, and that more reductions are needed for the market to get back into balance.
Ace,It means the latter -- that 44% of the 948 houses were reduced at some point during the time they've been active.I don't really know where this particular statistic will lead in the future or if it's useful, but I started keeping track just for fun to see if and how it might change.
Thanks, Harriet, I think it's really interesting.
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