December Statistics are in. Here they are:
The average Arlington, Va sold prices barely changed dropping to $641,971 from $645,962 in 2014. The median sold price dropped just a bit from $571,000 to $559,000. The average list price for colds dropped a small amount from $658,627 to $651,786 and the average list sales price to list price ratio was 96.3%
It could be tempting to say that the Arlington, Va real estate market has been mostly flat year over year but if we go a little deeper we can see that the average price for detached homes went up fairly significantly from $880,991 to $945,824. The drop in average sales prices came from attached homes (condos/townhomes etc) which dropped from an average of $471,803 to $441,653. The general takeaway is that you “may” expect to pay less for an Arlington, Va townhouse or condo this year then you would have last year and you “may” expect to pay more for a single family home.
This is important information when you are pricing your home or making an offer. Information is your ammunition. These statistics are general and county wide so if you are getting ready to list or thinking of buying you need to have your agent look closely at your neighborhood statistics. That’s why I put “may” in quotes above. When it comes to the amount you offer or list your home for, location is everything, even in a geography as small as Arlington. Some condo complexes may have gone up in popularity and price, while others may have seen a decline. The same is true for various neighborhoods around Arlington. Make sure you do you your homework.