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 May. After a slower start to 2014 compared to 2013, the market rebounded well in March and April. However, May presented new dynamic to Arlington County that is hasn’t seen in a while – increasing inventory. The market has almost 100 more Active Homes in May than it did in April. All and New Pendings are down in May compared to April which suggest a shift towards a Buyers Market. However, it is too early to make that call as we would need several months of supporting data to call it a trend. Still, this is something worth paying attention to as Arlington County was the only County in the US to not experience any depreciation during the recent Recession.
2. Median Sold Price – In a shocking development, Townhomes overtook Single-Family homes in the Median Sold Price category – $854,500 to $815,000. The Median Sold Price for Townhomes is up a whopping 42% from the same time last year!
3. Average Days on Market – The ADOM decreased to 33 days across all segments with Townhomes leading the way at just 9 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 increased to a 12-month high of 98.9% across all segments with Single Family Detached Homes leading the way at 100.3%.
The Arlington County real estate market continues to show strength given the economic challenges, interest rate fluctuations and lower 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 $570,000, 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!