Wilson Realty Group continues our weekly series on the local real estate market statistics. This week we focus on Arlington County which includes McLean, Ashton Heights, Clarendon, Auora Hills, Crystal City, Ballston, South Arlington, North Arlington, Rosslyn, West Arlington and Fort Myer.
1. Market Activity – In Arlington, Market Activity has begun its 2014 uptick. After sliding at the end of 2013, the market has beguen to rebound over the first two months of 2014. New Listings are up from January and All Pendings are up as well. Active Listings are up more than 31% from the same point last year.
2. Median Sold Price – Townhome prices pushed the Median Sold Price up over $514,000 for the first time in 2014. Detached homes rebounded to – $725,000 – a 2.8% increase over the same time last year.
3. Average Days on Market – The ADOM increased for the 5th straight month to 50 days across all segments. While higher again in February, this continues to be historically low and points to the limited inventory and desireability of Arlington County as a place to call home in the DC Metro.
4. Average Sold to Original List Price Ratio – The ASOLP Ratio rebounded to a 4-month high of 97.8% across all segments with Townhouses leading the way at 99.4%.
The Arlington County real estate market continues to show strength given the economic challenges, interest rate fluctuations and low inventory. At Wilson Realty Group, our clients are seeing tremendous value leveraging our hybrid model because it simply keeps more of their hard earned money in their pocket. With a Median Sales Price in excess of $500,000, our Arlington County clients are saving anywhere from $5,000-30,000 on their next move. Don’t waste your time and money – call Wilson Realty Group today at 202-642-5478 and let’s move!