The Long & Foster Market Minute

Focus On: North Arlington Housing Market October 2018

Zip Code(s): 22207, 22205 and 22213
Units Sold
57
Active Inventory
166
Median Sale Price
$853,000
Days On Market
54
Down -14%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -3%
Vs. Year Ago
Down -4%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 57 sold this month in North Arlington Real Estate versus 54 last month, an increase of 6%. This month's total units sold was lower than at this time last year, a decrease of 14% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is higher by 7 units or 4%. The total number of active inventory this October was 166 compared to 159 in October 2017. This month's total of 166 is lower than the previous month's total supply of available inventory of 181, a decrease of 8%.

Median Sale Price
Last October, the median sale price for North Arlington Homes was $875,000. This October, the median sale price was $853,000, a decrease of 3% or $22,000 compared to last year. The current median sold price is 9% lower than in September.

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


New Listings
83
Current Contracts
52
Sold Vs. List Price
99.3%
Months of Supply
2.9
Up 1%
Vs. Year Ago
Down -22%
Vs. Year Ago
No Change
Vs. Year Ago
Up 21%
Vs. Year Ago

Months of Supply
In October, there was 2.9 months of supply available in North Arlington, compared to 2.4 in October 2017. That is an increase of 21% 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 83 homes newly listed for sale in North Arlington compared to 82 in October 2017, an increase of 1%. There were 52 current contracts pending sale this October compared to 67 a year ago. The number of current contracts is 22% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in North Arlington was 99.3% 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 54, lower than the average last year, which was 56, a decrease of 4%.

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.