Here in Metro DC, the Arlington market is holding strong. We achieved record highs last month!!!! Price per square foot for Arlington homes reached its all time high at $482! (Just to give you a better idea – during the hottest real estate market in 2005 price per square foot reached $442)
Here is a chart for average sales price.
Buyers have a lot to look forward to as inventory is continuing to increase – there were 45% more homes for sale over September 2013 levels. There were 655 active listings vs. 455 in 2013. So more options and less competition for buyers.
The number of sold homes and new “under contracts” is similar to 2013 levels – which shows a continued and strong demand for Arlington real estate.
Average days on the market went up from 39 to 44, but the number is still at the lowest September levels in years.
In summary, the Arlington real estate market is doing well. Increased inventory is making some home sales a little more challenging, but the demands is still strong and properties in good locations and in great condition are selling for the highest prices yet!!!