The Long & Foster Market Minute

Focus On: North Arlington Housing Market April 2018

Zip Code(s): 22207, 22205 and 22213
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -12%
Vs. Year Ago
Down -18%
Vs. Year Ago
Up 10%
Vs. Year Ago
Up 22%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 60 sold this month in North Arlington Real Estate versus 56 last month, an increase of 7%. This month's total units sold was lower than at this time last year, a decrease of 12% versus April 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 36 units or 18%. The total number of active inventory this April was 168 compared to 204 in April 2017. This month's total of 168 is higher than the previous month's total supply of available inventory of 138, an increase of 22%.

Median Sale Price
Last April, the median sale price for North Arlington Homes was $864,500. This April, the median sale price was $955,000, an increase of 10% or $90,500 compared to last year. The current median sold price is 4% higher than in March.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Down -16%
Vs. Year Ago
Down -19%
Vs. Year Ago
Down -0.7%
Vs. Year Ago
Down -7%
Vs. Year Ago

Months of Supply
In April, there was 2.8 months of supply available in North Arlington, compared to 3.0 in April 2017. That is a decrease of 7% 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 125 homes newly listed for sale in North Arlington compared to 148 in April 2017, a decrease of 16%. There were 72 current contracts pending sale this April compared to 89 a year ago. The number of current contracts is 19% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in North Arlington was 98.6% of the average list price, which is 0.7% lower than at this time last year.

Days on Market
This month, the average number of days on market was 33, higher than the average last year, which was 27, an increase of 22%.

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.