Arlington Real Estate Prices Continue to Improve: Data from May 2010

Last month Arlington real estate prices were up 3% from April 2009; May activity shows another increase from last year. Overall, the Arlington condo market is up 1% in average net sale price, while townhouses increased 4% and single-family detached properties increased 5%. Days on the market decreased for all markets: 30% for condos, 26% for townhomes, and over 63% for detached properties. Of the 282 sales in May, 12 were short sales and 11 were bank-owned properties, making just over 8% of the market “distressed.”

Selling at higher prices faster? True for most of Northern Virginia, especially Arlington County.

Average Net Sale Price and Average Days on the Market

Single Family, Detached Properties
North Arlington: $796,977 in 37 days (Range: $470,000 – $1,665,000)
South Arlington: $599,849 in 34 days (Range: $314,594 – $890,000)

Townhouse
North Arlington: $723,819 in 42 days (Range: $365,000 – $1,128,500)
South Arlington: $381,468 in 25 days (Range: $175,000 – $760,000)

1 Bedroom Condos
North Arlington: $320,127 in 39 days (Range: $190,800 – $428,000)
South Arlington: $217,121 in 71 days (Range: $78,000 – $325,000)

1 Bedroom + Den Condos
North Arlington: $410,038 in 56 days (Range: $303,900 – $516,500)
South Arlington: $264,423 in 39 days (Range: $120,045 – $419,250)

2 Bedroom Condos
North Arlington: $537,430 in 45 days (Range: $234,305 – $971,485)
South Arlington: $370,043 in 108 days (Range: $274,900 – $505,000)

Again, these are all averages – they don’t account for age, upgrade, size, location, etc etc. For a more accurate depiction of your property value, find out what your Arlington home is worth!

3 thoughts on “Arlington Real Estate Prices Continue to Improve: Data from May 2010

Leave a Reply

Your email address will not be published. Required fields are marked *