The Long & Foster Market Minute

Focus On: Arlington County Housing Market August 2018

Units Sold
295
Active Inventory
546
Median Sale Price
$565,000
Days On Market
30
Up 9%
Vs. Year Ago
Down -19%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -9%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 295 sold this month in Arlington County Real Estate versus 298 last month, a decrease of 1%. This month's total units sold was higher than at this time last year, an increase of 9% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 131 units or 19%. The total number of active inventory this August was 546 compared to 677 in August 2017. This month's total of 546 is lower than the previous month's total supply of available inventory of 583, a decrease of 6%.

Median Sale Price
Last August, the median sale price for Arlington County Homes was $545,000. This August, the median sale price was $565,000, an increase of 4% or $20,000 compared to last year. The current median sold price is 8% lower 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
291
Current Contracts
229
Sold Vs. List Price
98.6%
Months of Supply
1.9
Down -17%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago
Down -26%
Vs. Year Ago

Months of Supply
In August, there was 1.9 months of supply available in Arlington County, compared to 2.5 in August 2017. That is a decrease of 26% 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 291 homes newly listed for sale in Arlington County compared to 351 in August 2017, a decrease of 17%. There were 229 current contracts pending sale this August, consistent with the volume a year ago. The number of current contracts is 15% lower than last month.

Sale Price to List Price Ratio
In August, the average sale price in Arlington County was 98.6% 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 30, lower than the average last year, which was 33, a decrease of 9%.

The Long & Foster Market Minute
*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.