In 22207 total volume was down 33% year over year. However, the average sold price continues to go up as well as an increase in the Median sold price. These two numbers are a direct reflection of the limited inventory in this coveted N. Arlington zip code. The Average sold price topped the $1M mark in February 2015. For a variety of reasons 22207 is one of the more expensive zip codes to live in Arlington. Unlike some other zip codes the average days on market dropped year over year from 51 to 48. Increases in inventory tend to create more competition for buyers and you can see that there has been an increase in active listings and new listings year over year. This is a warning to sellers to not get too complacent about the increase in average sold price and that they should be wary of assuming they can get more then comparable properties selling in the last 30 days. That’s not to say you won’t, it’s just something to put in your big bag of variables when deciding how to price your home.
Categories: arlington real estate statistics february 2015