Arlington Condo Prices Increase Over 5% in May 2012

Arlington Condo Prices Increase Over 5% in May 2012

May was a great month around Arlington for real estate, especially condos. Overall, average prices increased 1% over last year, but condo prices increased 5.5%. A total of 317 properties sold in May, a 44% increase in sales from 2011, which ate up a lot of the inventory, since our active property inventory is down 22% from last year. On average, properties are selling for 98% of original list price in 42 days (down from 53 last May). Only 16 of the 317 were either short sales or foreclosures.

Single Family, Detached
N. Arlington Average Sale Price: $848,788 after 48 days
Range: $430,000 – $3,375,000
S. Arlington Average Sale Price: $590,018 after 45 days
Range: $295,000 – $1,150,000

Townhomes
N. Arlington Average Net Sale Price: $776,753 after 19 days
Range: $439,000 – $1,093,300
S. Arlington Average Net Sale Price: $354,168 after 12 days
Range: $270,000 – $520,000

1 Bedroom, 1 Bathroom Condos
N. Arlington Average Net Sale Price: $345,117 after 42 days
Range: $190,000 – $715,000
S. Arlington Average Net Sale Price: $213,298 after 54 days
Range: $102,000 – $310,550

2 Bedroom, 2 Bathroom Condos
N. Arlington Average Net Sale Price: $570,215 after 24 days
Range: $270,000 – $865,000
S. Arlington Average Net Sale Price: $404,509 after 40 days
Range: $250,000 – $656,000

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