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 for September. After a slower August compared to 2013, the market fought off a similar slide in September. Listings are up significantly from August by over 100 and up 11.5% over the same time last year. Higher listings contributed to a robust inventory of 655 listings which is greater than 45% higher than September, 2013. However, Pending Sales & Closed Sales remain flat compared to August which is much better than the traditional downward trend during the fall.
2. Median Sold Price – In a shocking development, Townhomes overtook Detached homes in the Median Sold Price category – $815,000 to $712,5500. The Median Sold Price for Townhomes is up a whopping 49.6% from the same time last year while Detached homes are down 2.5%!
3. Average Days on Market – The ADOM increased to 43 days across all segments with Townhomes leading the way at just 33 ADOM! This continues to be historically low and points to the overall 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 decreased to 97.4% across all segments with Townhomes leading the way at 98.7%. The ASOLP Ratio is down 0.2% 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 $530,000, 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!