Buy Alexandria Real Estate: Arlington Virginia Real Estate Market Snapshot for May 2011

Alexandria Virginia Real Estate Blog

Arlington Virginia Real Estate Market Snapshot for May 2011

What's Happening today in the Arlington, Virginia Real Estate Market?

The chart below details all of the closed home sales activity in Arlington, Virginia for April 2011:

Arlington Virginia Real Estate Statistics April 2011

Sales volume for April 2011 was down significantly in terms of number of sales and in total closed dollar volume comparing April 2011 with April 2010.  This is due in large part to the increased 2010 activity due to the federal homebuyer tax credit last year which expired at the end of April 2010 thus driving many buyers to try to purchase their home before the deadline so they could get the $8000 tax credit.

Here's a snapshot of the current market for Arlington Virginia home sales in mid-May 2011:

  • Active homes for sale:  718 -- inventory of homes for sale has increased by about 38 homes from this time last month!  More people are putting their homes on the market in Arlington as Summer approaches.  268 homes, or over 37% of these Arlington homes have come on the market within the last 30 days!

  • Average listing price in Arlington, VA:  $712,178 -- an increase from last month's average   $694,465 price.

  • Price range:  The least expensive listing price in Arlington is $64,900.  The most expensive home is listed for $7,950,000.

  • Average days on market:  70 days (no change from last month)

  • There's an additional 444 homes in Arlington that are currently under contract pending sale.  266 of those contracts were ratified within the last 30 days.

As you can see from the stats above, Arlington remains a very active market.

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Comment balloon 1 commentBrian Block • May 19 2011 04:23PM

Comments

So a reduction in price slightly increases the closed sales amount.  That is a probable in any market...

Posted by Jay Markanich, Home Inspector - servicing all Northern Virginia (Jay Markanich Real Estate Inspections, LLC) over 6 years ago

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