Median Sales Price Increase of 7.5% in Arlington for January 2011

The market continues to strengthen as we start 2011 here in Arlington County. January started off strong with a 7.5% increase in median sales price, while inventory dropped 27.5% and days on the market increased  by 12 to 79.  There were 131 properties sold, of which 4 were short sales and 8 were bank-owned, accounting for 9.1%, one of the highest months we’ve seen. Here’s how the sales did by property type:

1 Bedroom, 1 Bath Condo
N. Arlington Average Net Sale Price: $309,053 after 69 days (range: $222,000 – $430,000)
S. Arlington Average Net Sale Price: $231,026 after 75 days (range: $120,000 – $320,000)

2 Bedroom, 1 Bath Condo (or 1 Bedroom with Den)
N. Arlington Average Net Sale Price: $366,696 after 61 days (range: $252,520 – $520,000)
S. Arlington Average Net Sale Price: $248,810 after 71 days (range: $99,900 – $383,000)

2 Bedroom, 2 Bath Condo
N. Arlington Average Net Sale Price: $519,541 after 89 days (range: $256,000 – $910,000)
There were no 2 bedroom, 2 bath condos sold in January in South Arlington

Townhomes
Only 2 sold in January, giving a misrepresentation of averages. Read my post on townhomes.
S. Arlington Average Net Sale Price: $391,120 after 73 days (range: $200,000 – $735,000)

Single Family Home (Detached)
N. Arlington Average Net Sale Price: $727,539 after 77 days (range: $259,900 – $1,425,000)
S. Arlington Average Net Sale Price: $484,460 after 102 days (range: $309,000 – $795,000)

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