Sweeping Price Increases in Arlington for the March Real Estate Market

Prices are up across the board again in Arlington County according to March sales in 2011. A total of 195 properties sold last month, of which 8 were foreclosures and 15 were short sales, accounting for 11.8% of the market. Across Arlington, Single Family Homes saw a 3% increase in average sale price, while townhomes were up 18% and condos right behind that with a 13% increase. Also inching up were the days on the market until sale – up to 79 from 61 last year. The only thing that was down last month was inventory – nearly 24% fewer properties for sale than 2010. Here’s the breakdown:

Single Family Homes
N. Arlington Average Net Sale Price: $811,466 after 49 days
Range: $370,000 – $1,785,056
S. Arlington Average Net Sale Price: $457,961 after 47 days
Range: $297,000 – $689,900

Townhomes/Duplex
N. Arlington Average Net Sale Price: $840,333 after 41 days
Range: $581,000 – $1,150,000
S. Arlington Average Net Sale Price: $477,609 after 57 days
Range: $145,555 – $717,000

1 Bedroom, 1 Bathroom Condo
N. Arlington Average Net Sale Price: $332,144 after 49 days
Range: $217,250 – $648,000
S. Arlington Average Net Sale Price: $255,504 after 102 days
Range: $112,500 – $367,000

2 Bedroom, 2 Bathroom Condo
N. Arlington Average Net Sale Price: $655,781 after 41 days
Range: $290,000 – $2,250,000
S. Arlington Average Net Sale Price: $397,346 after 33 days
Range: $320,000 – $500,000

 

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