November Was A Slow Month for Arlington Real Estate

Per usual, the winter slowdown hit in November, as only 166 properties sold in Arlington County. Of those, 13 were either a foreclosure or short sale. The average days on the market were 65, and properties were selling for an average of 95.8% of the original list price. The most remarkable numbers from the month relate to inventory: total new listings in November was down over 10% from 2010, while active listings were down over 9% (meaning less inventory and fewer choices). Only 3 townhomes sold in North Arlington, so you’ll see a blank there, but here are the averages for the rest of the properties sold in November:

Single Family, Detached Homes
N. Arlington Average Net Sale Price: $769,378 after 46 days
Range: $400,000 – $1,480,000
S. Arlington Average Net Sale Price: $560,559 after 63 days
Range: $281,300 – $910,000

Townhomes
S. Arlington Average Net Sale Price: $423,698 after 36 days
Range: $212,500 – $680,000

1 Bedroom, 1 Bathroom Condos
N. Arlington Average Net Sale Price: $323,140 after 49 days
Range: $190,000 – $423,000
S. Arlington Average Net Sale Price: $222,716 after 116 days
Range: $105,900 – $370,000

2 Bedroom, 2 Bathroom Condos
N. Arlington Average Net Sale Price: $568,725 after 41 days
Range: $290,000 – $950,000
S. Arlington Average Net Sale Price: $402,338 after 73 days
Range: $112,000 – $550,000

It’s worth nothing that although the days on the market average 65, 37 of the 166 properties sold within the first 30 days on the market. Overall, prices were down in November on a year-to-year comparison, but that’s not a general theme in our market.¬†Consistently, prices have been steadily¬†stabilizing¬†and climbing, but the smaller/older condos saw a price drop, which brings down the County average overall.

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