The Long & Foster Market Minute

Focus On: North Arlington Housing Market August 2018

Zip Code(s): 22207, 22205 and 22213
Units Sold
81
Active Inventory
164
Median Sale Price
$990,000
Days On Market
30
Up 21%
Vs. Year Ago
Down -9%
Vs. Year Ago
Up 14%
Vs. Year Ago
Down -23%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 81 sold this month in North Arlington Real Estate versus 72 last month, an increase of 13%. This month's total units sold was higher than at this time last year, an increase of 21% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 17 units or 9%. The total number of active inventory this August was 164 compared to 181 in August 2017. This month's total of 164 is lower than the previous month's total supply of available inventory of 178, a decrease of 8%.

Median Sale Price
Last August, the median sale price for North Arlington Homes was $865,000. This August, the median sale price was $990,000, an increase of 14% or $125,000 compared to last year. The current median sold price is 14% higher than in July.

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


New Listings
81
Current Contracts
58
Sold Vs. List Price
97.8%
Months of Supply
2.0
Down -7%
Vs. Year Ago
Up 7%
Vs. Year Ago
Down -1.4%
Vs. Year Ago
Down -25%
Vs. Year Ago

Months of Supply
In August, there was 2.0 months of supply available in North Arlington, compared to 2.7 in August 2017. That is a decrease of 25% 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 81 homes newly listed for sale in North Arlington compared to 87 in August 2017, a decrease of 7%. There were 58 current contracts pending sale this August compared to 54 a year ago. The number of current contracts is 7% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in North Arlington was 97.8% of the average list price, which is 1.4% lower than at this time last year.

Days on Market
This month, the average number of days on market was 30, lower than the average last year, which was 39, a decrease of 23%.

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.