Arlington, VA townhome statistics for 2019
So how did Amazons announcement and low interest rates affect Arlington townhome values in 2019? Here are some trends that you need to know.
Arlington townhome inventory is at all time record lows
Real estate market follows a simple law of supply and demand. After Amazons announcement the demand for Arlington, VA real estate (including Arlington, VA townhomes) has gone way up (a lot more people are ready, willing and capable to buy), but the supply has stayed about the same. This created a perfect storm and record low inventory levels. We’ve had less than 1 month of inventory for townhomes since December 2018 – this means a very VERY competitive market. Buyers are competing (fiercely!) for townhome listings that come on the market.
A balanced market for townhomes in Arlington would be around 2.5 months of inventory. Here’s a graph for supply/demand (months of inventory) for Arlington townhomes for the last 10 years – you can see how steeply it drops in 2019.
Price per square foot for Arlington townhomes has gone up
Arlington townhome price per square foot has gone from under $400 closer to $450. Here’s a chart that shows the increase of price per square foot for Arlington townhomes.
On average it takes about 6 days to sell a townhome in Arlington, VA!
Median days on the market for Arlington townhomes in 2019 was 6 days! Down from 11 days in 2018.
See below the median days on the market chart for Arlington townhomes for the last 3 years.
Selling an Arlington townhome above list price was the norm in 2019
Average list price to sold price in 2019 was 100.8%. So if your townhome was listed for $800,000 on average is sold for $806,400. Average list to sold price ration in 2018 was 99.325% – which meant sale below list price.
Here’s a chart for Arlington townhome list price vs. sold price for the last 3 years.
Data shows average sold price for Arlington, VA has come down, but that’s not accurate
My MLS data shows that the average sold price for townhomes have come down in 2019, but I think that is not accurate. There are not that many townhomes sales in Arlington every year (around 280 in 2019) – so a few luxury sales, or a few sales of duplexes can really skew the data.
I think we should look at Arlington, VA sold listing trends to get a more accurate picture. Here’s the chart for all of Arlington. Our Arlington real estate summary is showing almost 6% average sold price increase for 2019 for Arlington homes and about 9% increase in median price. Click Arlington VA real estate statistics 2019 to see the report.
This is my own analysis based on the MLS data and reports I have available – please feel free to fact check!
What does this mean for Arlington townhome sellers? You won’t have a hard time selling your Arlington townhome. You probably could just put a sign in your yard and it will sell. But if you’d like to sell it at the highest price and get the most bids – your home should look its best and it should be advertised in our Multiple Listing Service. This way you would expose your home to absolutely everyone looking for a home in this area. If a Realtor you are interviewing is suggesting a private sale or a private database – please beware! You will not be exposed to ALL hungry buyers looking for a home in this hot market.
If you’d like to sell at the highest price and not leave money on the table – please contact me and request a consultation! I will make your home look its best so you get the highest price! See my SOLD portfolio here!