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 is mixed across the board in September. After a flatter August than in 2015, the market is lumbering into the fall market a little behind last year. Active Listings are up from August by 42 to 642 but down 6.3% from the same time last year. 389 New Listings were added in September, a 5.1% jump from September, 2015. However, Closed Sales dropped significantly to 218 reflecting a 14.2% decrease in transactions compared to the same time last year. Pending Sales jumped 19.6% in comparison to September, 2015 adding hope to stronger numbers in October.
2. Median Sold Price – Detached homes are up 4.3% from the same time last year to $785,000 and Townhomes are up 3.4% to $620,000. Condos had a robust increase of 4.6% to $381,875 from September, 2015 but still down from their peak $415,500 in November, 2014.
3. Average Days on Market – The ADOM increased to 53 days across all segments with Townhomes leading the way at just 24 ADOM! This is the third straight month that the ADOM has risen from the prior month and reflects the overall slowing fall market.
4. Average Sold to Original List Price Ratio – The ASOLP Ratio dropped to 97% across all segments with Detached and Townhomes leading the way at 97.7%. The ASOLP Ratio is up 0.3% from the same time last year.
The Arlington County real estate market continues to show strength given the economic challenges, interest rate fluctuations and historically tight 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 $510,000, our Arlington County clients are saving thousands on their next move. Don’t waste your time and money – call Wilson Realty Group today at 202-642-5478 and let’s move!