Arlington, VA Real Estate Market Update – February 2010

February was a another strong month for the real estate market in Arlington. Average sales price is up about 3.5%, units sold is up almost 50%, and days on the market is down about 33%. The other number that’s down? Inventory. We’re at about 87% of the inventory in 2009, and 85% of 2008. Of the 135 sales (excluding the Retirement communities), 7 were short sales, and 7 were foreclosures.

Here’s the breakdown for the month:

Single Family, Detached Homes
North: $739,626 after 58 days (range: $515,000 – $1,400,000)
South: $465,433 after 48 days (range: $275,000 – $975,000)

Townhomes
North: $651,400 after 53 days (range: $462,000 – $820,000)
South: $398,403 after 43 days (range: $188,000 – $735,000)

1 Bedroom Condos
North: $338,757 after 75 days
South: $258,562 after 28 days

1 Bedroom with Den Condos
North: $389,563 after 51 days
South: $281,000 after 45 days

2 Bedroom Condos
North: $509,390 after 31 days
South: $385,000 after 64 days

Thinking about buying? Search Arlington Homes For Sale Here