The Long & Foster Market Minute

Focus On: North Arlington Housing Market November 2017

Zip Code(s): 22207, 22205 and 22213
Units Sold
65
Active Inventory
147
Median Sale Price
$849,000
Days On Market
30
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 16%
Vs. Year Ago
Down -9%
Vs. Year Ago
Down -8%
Vs. Year Ago
No Change
Vs. Year Ago

Units Sold
There was a decrease in total units sold in November, with 65 sold this month in North Arlington Real Estate versus 66 last month, a decrease of 2%. This month's total units sold was higher than at this time last year, an increase of 16% versus November 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 14 units or 9%. The total number of active inventory this November was 147 compared to 161 in November 2016. This month's total of 147 is lower than the previous month's total supply of available inventory of 164, a decrease of 10%.

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Median Sale Price
Last November, the median sale price for North Arlington Homes was $918,950. This November, the median sale price was $849,000, a decrease of 8% or $69,950 compared to last year. The current median sold price is 3% lower than in October.

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

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New Listings
47
Current Contracts
33
Sold Vs. List Price
98.4%
Months of Supply
2.3
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -10%
Vs. Year Ago
Down -31%
Vs. Year Ago
No Change
Vs. Year Ago
Down -22%
Vs. Year Ago

Months of Supply
In November, there was 2.3 months of supply available in North Arlington, compared to 2.9 in November 2016. That is a decrease 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.

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New Listings & Current Contracts
This month there were 47 homes newly listed for sale in North Arlington compared to 52 in November 2016, a decrease of 10%. There were 33 current contracts pending sale this November compared to 48 a year ago. The number of current contracts is 31% lower than last November.

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Sale Price to List Price Ratio
In November, the average sale price in North Arlington was 98.4% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 30, which is similar compared to a year ago.

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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.