How’s The Foreclosure Market in Arlington?
The foreclosure market in Arlington: Recent articles show National averages of 1 foreclosure filing for every 563 homes. While the most chatter is about the Top 5 Worst Foreclosure Markets (1. Las Vegas, NV, 2. Chicago, IL, 3. Los Angeles, CA, 4. Miami, FL, and 5. Phoenix, AZ) I wanted to take a minute to compare our local market so you can keep things in perspective.
Our market overall has been increasing in pricing since our bottom in 2009. The best market in the DC Metro area is Arlington, here’s why:
Foreclosure and pre-foreclosure (short sale) filling are the lowest in Arlington County, meaning prices didn’t fall nearly as much as neighboring markets. Surveying currently Active listings, not including properties under contract, here are the percentages of distressed properties by county (this includes foreclosures and short sales):
Arlington, VA: 5.56%
Washington, DC: 10.9%
Alexandria City, VA: 11.9%
Loudoun County, VA: 12.44%
Fairfax County, VA: 15.46%
Montgomery County, MD: 20.2%
Prince William County, VA: 25.58%