The Long & Foster Market Minute

Focus On: North Arlington Housing Market February 2019

Zip Code(s): 22207, 22205 and 22213
Units Sold
53
Active Inventory
107
Median Sale Price
$979,065
Days On Market
47
Up
Vs. Year Ago
Down -15%
Vs. Year Ago
Up 19%
Vs. Year Ago
Down -8%
Vs. Year Ago

Units Sold
There was an increase in total units sold in February, with 53 sold this month in North Arlington Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 19 units or 15%. The total number of active inventory this February was 107 compared to 126 in February 2018. This month's total of 107 is higher than the previous month's total supply of available inventory of 104, an increase of 3%.

Median Sale Price
Last February, the median sale price for North Arlington Homes was $821,000. This February, the median sale price was $979,065, an increase of 19% or $158,065 compared to last year. The current median sold price is 1% higher than in January.

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


New Listings
82
Current Contracts
58
Sold Vs. List Price
99.0%
Months of Supply
2.0
Up 2%
Vs. Year Ago
Up 12%
Vs. Year Ago
No Change
Vs. Year Ago
Down -37%
Vs. Year Ago

Months of Supply
In February, there was 2.0 months of supply available in North Arlington, compared to 3.2 in February 2018. That is a decrease of 38% 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 82 homes newly listed for sale in North Arlington compared to 80 in February 2018, an increase of 3%. There were 58 current contracts pending sale this February compared to 52 a year ago. The number of current contracts is 12% higher than last February.

Sale Price to List Price Ratio
In February, the average sale price in North Arlington was 99.0% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 47, lower than the average last year, which was 51, a decrease of 8%.

The Long & Foster Market Minute North Arlington are defined as properties listed in zip code/s 22207, 22205 and 22213.
*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.