The Long & Foster Market Minute

Focus On: North Arlington Housing Market June 2018

Zip Code(s): 22207, 22205 and 22213
Units Sold
84
Active Inventory
186
Median Sale Price
$926,200
Days On Market
34
Down -28%
Vs. Year Ago
Up 4%
Vs. Year Ago
No Change
Vs. Year Ago
Up 42%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 84 sold this month in North Arlington Real Estate versus 70 last month, an increase of 20%. This month's total units sold was lower than at this time last year, a decrease of 28% versus June 2017.

Active Inventory
Versus last year, the total number of homes available this month is higher by 8 units or 4%. The total number of active inventory this June was 186 compared to 178 in June 2017. This month's supply remained stable as compared to last month.

Median Sale Price
Last June, the median sale price for North Arlington Homes was $923,250. This June, the median sale price was $926,200, which is similar compared to a year ago. The current median sold price is 4% higher than in May.

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


New Listings
113
Current Contracts
78
Sold Vs. List Price
99.6%
Months of Supply
2.2
Down -7%
Vs. Year Ago
Down -19%
Vs. Year Ago
No Change
Vs. Year Ago
Up 100%
Vs. Year Ago

Months of Supply
In June, there was 2.2 months of supply available in North Arlington, compared to 1.5 in June 2017. That is an increase of 44% 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 113 homes newly listed for sale in North Arlington compared to 121 in June 2017, a decrease of 7%. There were 78 current contracts pending sale this June compared to 96 a year ago. The number of current contracts is 19% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in North Arlington was 99.6% 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 34, higher than the average last year, which was 24, an increase of 42%.

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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.