Once the dust settles, I’m always curious to look back on the past year. How it compared to the year before, and what it may mean for the market this year.
Here’s how the Arlington Real Estate market fared in 2015 vs 2014:
All Arlington Single Family Home Sales
| Year | # of Homes Sold | Avg Sale Price | Avg Days on the Market |
|---|---|---|---|
| 2015 | 1,069 | $919,093 | 49 |
| 2014 | 1,039 | $893,409 | 40 |
| Difference | Up 2.9% in 2015 | Up 2.8% in 2015 | 18.4% longer to sell a home in 2015 |
North Arlington Single Family Home Sales
| Year | # of Homes Sold | Avg Sale Price | Avg Days on the Market |
|---|---|---|---|
| 2015 | 790 | $1,001,235 | 50 |
| 2014 | 782 | $969,982 | 39 |
| Difference | Up 1.1% in 2015 | Up 3.2% in 2015 | 22% longer to sell a home in 2015 |
Analysis
Arlington experienced another year of moderate growth in 2015, with both the number of homes sold and average sale price increasing modestly. This slow-and-steady trend has been a hallmark of the Arlington real estate market over the past 3 years.
So what does this mean for 2016? Well, home values will stay strong, and quality inventory will continue to sell quickly, and for close to full price.
As of January 19th, the inventory picture in Arlington is pretty attractive for sellers:
• All Arlington: 148 active home listings / 92 pending sales = 3.2 months worth of inventory
• North Arlington: 109 active home listings / 74 pending sales= 2.9 months worth of inventory
With such a low inventory at the beginning of the year, now is a great time to list your home for sale. If you’re looking to buy, it makes sense to wait until the Spring market hits. There should be a steady influx of new inventory from now until late Spring.
If you’d like to get an idea of what your home is worth in the current market, I’d be happy to do a complimentary market analysis on your home for you. Just go to:
Or Give me a Call @ 703-928-7109
If you’d like to discuss the current market, or chat about anything related to real estate and home building, I’d love to chat! Feel free to call or write me anytime.
Cheers to a Happy and Healthy Holiday Season!
Lou Sagatov
703-928-7109
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