The Long & Foster Market Minute

Focus On: Arlington County Housing Market March 2021

Units Sold
283
Active Inventory
413
Median Sale Price
$610,000
Days On Market
27
Up 24%
Vs. Year Ago
Up 68%
Vs. Year Ago
Down -4%
Vs. Year Ago
Up 35%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 283 sold this month in Arlington County Real Estate versus 250 last month, an increase of 13%. This month's total units sold was higher than at this time last year, an increase of 24% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is higher by 167 units or 68%. The total number of active inventory this March was 413 compared to 246 in March 2020. This month's total of 413 is higher than the previous month's total supply of available inventory of 392, an increase of 5%.

Median Sale Price
Last March, the median sale price for Arlington County Homes was $634,950. This March, the median sale price was $610,000, a decrease of 4% or $24,950 compared to last year. The current median sold price is 2% higher than in February.

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


New Listings
484
Current Contracts
388
Sold Vs. List Price
100.3%
Months of Supply
1.5
Up 40%
Vs. Year Ago
Up 66%
Vs. Year Ago
Down -0.7%
Vs. Year Ago
Up 35%
Vs. Year Ago

Months of Supply
In March, there was 1.5 months of supply available in Arlington County, compared to 1.1 in March 2020. That is an increase of 35% 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 484 homes newly listed for sale in Arlington County compared to 345 in March 2020, an increase of 40%. There were 388 current contracts pending sale this March compared to 234 a year ago. The number of current contracts is 66% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Arlington County was 100.3% of the average list price, which is 0.7% lower than at this time last year.

Days on Market
This month, the average number of days on market was 27, higher than the average last year, which was 20, an increase of 35%.

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.