The Long & Foster Market Minute

Focus On: Arlington County Housing Market August 2020

Units Sold
293
Active Inventory
396
Median Sale Price
$700,000
Days On Market
15
Up 15%
Vs. Year Ago
Up 39%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -25%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 293 sold this month in Arlington County Real Estate versus 285 last month, an increase of 3%. This month's total units sold was higher than at this time last year, an increase of 15% versus August 2019.

Active Inventory
Versus last year, the total number of homes available this month is higher by 111 units or 39%. The total number of active inventory this August was 396 compared to 285 in August 2019. This month's total of 396 is higher than the previous month's total supply of available inventory of 381, an increase of 4%.

Median Sale Price
Last August, the median sale price for Arlington County Homes was $619,500. This August, the median sale price was $700,000, an increase of 13% or $80,500 compared to last year. The current median sold price is 4% lower than in July.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
385
Current Contracts
294
Sold Vs. List Price
101.2%
Months of Supply
1.4
Up 58%
Vs. Year Ago
Up 56%
Vs. Year Ago
Up 0.9%
Vs. Year Ago
Up 21%
Vs. Year Ago

Months of Supply
In August, there was 1.4 months of supply available in Arlington County, compared to 1.1 in August 2019. That is an increase of 20% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 385 homes newly listed for sale in Arlington County compared to 243 in August 2019, an increase of 58%. There were 294 current contracts pending sale this August compared to 188 a year ago. The number of current contracts is 56% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Arlington County was 101.2% of the average list price, which is 0.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 15, lower than the average last year, which was 20, a decrease of 25%.

The Long & Foster Market Minute
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.