Monthly Market Update for Arlington VA.  Market Data provided 

Single Family Homes for Sale in the Arlington, VA: Detached Properties

In Arlington, VA, the median sold price for Detached properties for March was $990,000, representing a decrease of 13.3% compared to last month and an increase of 1.4% from Mar 2019. The average days on market for units sold in March was 23 days, 29% below the 5-year March average of 32 days. There was a 5.1% month over month increase in new contract activity with 82 New Pendings; a 2% MoM increase in All Pendings (new contracts + contracts carried over from February) to 101; and a 16.8% increase in supply to 118 active units.

This activity resulted in a Contract Ratio of 0.86 pendings per active listing, down from 0.98 in February and a decrease from 0.99 in March 2019. The Contract Ratio is 5% higher than the 5-year March average of 0.82. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller's favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer's favor.

Single Family Homes for Sale in the Arlington, VA: Attached Properties

In Arlington, VA, the median sold price for Attached properties for March was $485,000, representing an increase of 5.1% compared to last month and an increase of 16.6% from Mar 2019. The average days on market for units sold in March was 16 days, 49% below the 5-year March average of 31 days. There was a 19.1% month over month increase in new contract activity with 168 New Pendings; an 11.2% MoM increase in All Pendings (new contracts + contracts carried over from February) to 149; and a 16.4% increase in supply to 85 active units.

This activity resulted in a Contract Ratio of 1.75 pendings per active listing, down from 1.84 in February and an increase from 1.62 in March 2019. The Contract Ratio is 53% higher than the 5-year March average of 1.15. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller's favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer's favor.

Townhouses for Sale in the Arlington, VA: Townhouse Attached Properties

In Arlington, VA, the median sold price for Attached/Townhouse properties for March was $805,000, representing a decrease of 4.1% compared to last month and an increase of 9.4% from Mar 2019. The average days on market for units sold in March was 12 days, 45% below the 5-year March average of 22 days. There was an 8.7% month over month increase in new contract activity with 25 New Pendings; a 12.5% MoM decrease in All Pendings (new contracts + contracts carried over from February) to 21; and a 28.6% increase in supply to 9 active units.

This activity resulted in a Contract Ratio of 2.33 pendings per active listing, down from 3.43 in February and a decrease from 2.42 in March 2019. The Contract Ratio is 40% higher than the 5-year March average of 1.66. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller's favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer's favor.

Condos Sale in the Arlington, VA: Condo & Coop Properties

 In Arlington, VA, the median sold price for Condo & Coop properties for March was $450,000, representing an increase of 2.7% compared to last month and an increase of 17.2% from Mar 2019. The average days on market for units sold in March was 17 days, 49% below the 5-year March average of 33 days. There was a 21.2% month over month increase in new contract activity with 143 New Pendings; a 16.4% MoM increase in All Pendings (new contracts + contracts carried over from February) to 128; and a 15.2% increase in supply to 76 active units.

This activity resulted in a Contract Ratio of 1.68 pendings per active listing, up from 1.67 in February and an increase from 1.52 in March 2019. The Contract Ratio is 54% higher than the 5-year March average of 1.09. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller's favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer's favor.

Information regarding homes for sale in Arlington, Virginia provided by Louis Taylor with eXp Realty