We're basically at the 3-month point from Amazon's announcement that it would be arriving here in Northern Virginia. Let's look at what impact, if any, it has had.
First, inventory has declined. That means homes available went under contract at a rate greater than new homes hitting the market. Usually in the last months of the year, and the first (Winter), demand is lower so this is a change over what we've seen historically. Additionally, homes listed for sale since Amazon's November 3rd announcement have averaged only 17 days on market. That's the time it takes to go under contract. This is faster than any other period in 2018.
While this is admittedly, a small sample size, what it says to me is that investors have become very active in this area and those existing home owners are holding onto their properties.
If you're an investor looking to break into this market or one of those owners holding property and you'd like to rent it out, then give me a call.
To find out more about #InvestingInArlington and the #AmazonEffect, or maybe you'd like to find out about #RentalsInArlington, visit http://www.flatfeelandlord.com/office
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