Arlington County, VA Market Report – 9/1/09

01 Sep
September 1, 2009

Here are the latest numbers from Arlington County, VA:

  • 304 New Listings
  • 290 Closed Sales
  • $523,379 Average Sales Price
  • 61 Average DOM (Days on Market)

Couple Arlington County’s close proximity to Washington, DC along with its desirable neighborhoods and you’ll see why this market has weathered the downturn more favorably than other segments of Northern Virginia. While the average sales price is actually down 7% from last July, the number of units sold is up 25%—generating a 16.5% increase in sales revenue.

In all, 230 properties went under contract in July, meaning closed sales for August could actually be lower than July’s totals. This is a function of the decreasing inventory throughout the region, not just in Arlington County. During the last week of August, 62 new listings came onto the market with a little more than a third of them being detached homes and the remainder condominiums and townhouses. Although foreclosures and short sales are not as predominant as in outlying areas, the same commentary as Prince William County holds true for the presence of any distressed properties in Arlington.

Market Report compiled by Charlie Carroll, Managing Broker at Avery-Hess, Realtors.

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