Now that summer is officially here, I decided to take a look at home sales in North Arlington this spring. Here’s what I found:
North Arlington Single Family Home Sales 2/28/15-5/29/15
- Home Sales: 201
- Average Sale Price: $1,029,085 (99.4% of list price)
- Average # of days on the market: 50
Single Family Home Sales in 22205
- Home Sales: 46
- Average Sale Price: $863,396 (99.8% of list price)
- Average # of days on the market: 25
Single Family Home Sales in 22207
- Home Sales: 101
- Average Sale Price: $1,128,037 (99.1% of list price)
- Average # of days on the market: 66
North Arlington: 228 Active Listings / 113 Pending Sales = 4 months of inventory
22205: 43 Active Listings / 33 Pending Sales= 2.6 months of inventory
22207: 135 Active Listings / 49 Pending Sales= 5.5 months of inventory
Insights: Home sales in North Arlington this spring were on par with 2014. Overall, the average sale price for a single family home was 4% higher this spring than in 2014. This is in keeping with the moderate market growth I anticipated for this year. The current inventory is healthy, with North Arlington as a whole continuing to be a seller’s market.
This is particularly true in the 22205 zip code, where homes continue to sell quickly and for nearly 100% of list price. The 22207 zip code, which represents the majority of homes north of Lee Highway, continues to be more of a balanced market. The 22207 zip code contains a large majority of the most expensive homes in North Arlington, and more balanced market is expected. The good news here is that prices continue to rise, and that homes continue to sell at a steady pace.
Overall, the market picture looks quite positive as we enter the summer months here in Arlington.
If you have any questions about the market here in Arlington, or anything else related to Real Estate and home building, please feel free to call or write me anytime.
Cheers to a happy and healthy Summer!
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