June 2010 Sees Over 13% Increase in Real Estate Prices in Arlington

Looks like June was a busy month for the housing recovery in Arlington. With 308 properties sold, prices were up, on average 13.5% while days on the market was cut by 27%. On average, the properties sold for 96.18% of the list price. The number of distressed properties broke out to be 19 closed short sales and 13 closed bank-owned. Here’s the average net sale price and days on the market by location and type:

Detached Properties/Single Family Homes
North Arlington: $836,200 in 37 days (range: $440,000 – $1,700,000)
South Arlington: $593,021 in 83 days (range: $250,000 – $1,625,000)

Townhouse
North Arlington: $726,856 in 30 days (range: $440,000 – $1,070,000)
South Arlington: $378,377 in 29 days (range: $189,000 – $653,600)

1 Bedroom Condo
North Arlington: $317,128 in 37 days (range: $180,000 – $578,000)
South Arlington: $225,931 in 34 days (range: $80,000 – $350,000)

1 Bedroom + Den Condo
North Arlington: $384,908 in 29 days (range: $232,681 – $645,000)
South Arlington: $236,736 in 63 days (range: $118,000 – $320,000)

2 Bedroom Condo
North Arlington: $519,459 in 41 days (range: $272,000 – $809,000)
South Arlington: $398,561 in 107 days (range: $288,887 – $500,000)

Compare these numbers to June 2009.

Keep in mind, these are just averages. Ranges are wide throughout the County, so for a more accurate pricing of your particular property, please let me know the specifics.

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