Arlington VA Home Prices Up 17% from 2009

There has been a palpable shift in the Arlington, VA real estate market over the past few months, and the March statistics reflect that. Inventory is way down as we’ve sold through many of the properties for sale, and haven’t had the same number of new properties come on the market for sale – the market has self-corrected. Here’s the overall picture of our current market:

A total of 227 properties were sold in Arlington in March 2010. Of those, 14 were short sales and 10 were bank-owned properties, making our “distressed” market only about 10.5%. Average NET prices of condos/co-ops is down 6% from 2009, BUT townhouses are up 13% and single family homes are up by 17%. Here’s the breakdown by property and location for average net sale price and days on the market:

Single Family Homes
North Arlington:  $793,308 in 99 days
South Arlington: $473,380 in 62 days

North Arlington: $754,803 in 71 days
South Arlington: $367,018 in 16 days

1 Bedroom Condos
North Arlington: $317,134 in 42 days
South Arlington: $228,078 in 45 days

1 Bedroom with Den Condos
North Arlington: $375,889 in 36 days
South Arlington: $251,490 in 46 days

2 Bedroom Condos
North Arlington: $600,739 in 105
South Arlington: $393,708 after 49 days

Remember, these are just averages. For a more detailed price analysis for you home, please contact me.

Source: MRIS