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ArlingtonReal EstateArlington home sales, prices still on upward trajectory

Arlington home sales, prices still on upward trajectory

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Both home sales and average sales prices in Arlington rose modestly in October compared to a year before, according to new data, with pending sales suggesting the market will close out the year healthy.

A total of 274 properties went to closing last month, up from 264 in October 2020, according to figures reported Nov. 11 by MarketStats by ShowingTime, based on listing data from Bright MLS.

That’s solid strength, given that the late-2020 real-estate market in the local area was making up for time lost earlier in the year to COVID and posting strong sales figures.

The average sales price of all homes that went to closing – $796,109 – was up 5.1 percent, with increases in two of three market segments:


• The average sales price of single-family homes grew 4.8 percent to $1,203,360.

• The average sales price of townhouses and other attached properties grew 3.2 percent to $554,599.

• The average sales price of condominiums declined 3.9 percent to $462,748.
A total of 69 properties went to closing for more than $1 million, including five that brought more than $2.5 million.

Add up the sales and prices, and total sales volume for the month was $219,540,576, an increase of 10.2 percent from a year before.

Conventional mortgages represented the method of transacting sales in 201 cases, followed by cash (52) and VA-backed loans (15).

A couple of indicators suggest a slowing of the market, including a longer average number of days that homes sat on the market before a contract (31 compared to 17 a year before) and a lower average ratio of sales price to listing price (97.8 percent compared to 99.2 percent).

But sellers benefited from a relative dearth of inventory; the 512 properties on the market at the end of October represented a decline of 9.1 percent from a year before, and the number of listings coming onto the market during the month were down 13 percent.

Still, the market looks to hold up strong through the rest of the year, with overall pending sales up just under 21 percent compared to this point in 2020.

Figures represent most, but not all, sales during the period. October 2021 figures are preliminary and are subject to revision.

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