Up, down, no change: Data related to the Arlington real estate
market in October was all over the map.
Total sales were down considerably from a year before, but
average sales prices were up slightly. Median sales prices were
down, and the average amount of time it took for homes to sell
stayed the same as a year ago.
A total of 150 residential properties changed hands last month,
according to figures reported Nov. 10 by RealEstate Business
Intelligence, an arm of the local multiple-listing service. That
was down 17.1 percent from the 181 transactions reported in October
2010.
The average sales price posted a slight increase from a year
before, rising 0.4 percent to $562,217. And all three segments of
the market posted an increase:
* The average price of a single-family home that sold in October
was $783,663, up 7.5 percent.
* The average price of an attached home, such as a townhouse or
rowhouse, was up 4.9 percent to $430,291.
* The average price of a condominium was up 5.9 percent to
$396,376.
But the median sales price was down 3 percent compared to a year
before, dropping from $502,500 to $487,500.
Homes that sold in October spent an average of 56 days between
listing and ratified sales contract, a length of time the same as
those homes that sold in October 2010.
Exactly half of homes that sold during the month spent 30 days
or less on the market before finding a buyer, while only 13 percent
lingered on the market for four months or more before finding a
match.
Homes that sold during the month garnered an average of 96.3
percent of original listing price, up from 95.4 percent a year
before.
Of homes that sold during the month, nearly two-thirds (96) were
financed by conventional mortgages, followed by cash (22) and
FHA-backed mortgages.
At the end of the month, there were 659 properties listed for
sale across Arlington, a 13-percent decline from the 758 properties
being marketed in October 2010. Pending sales, which usually
translate into closed sales in the near term, were pointing
slightly higher in October.
Total sales volume for the month was $84.33 million, down nearly
17 percent from the $101.35 million a year before.
Among Arlington ZIP codes, the following sales figures were
reported by RealEstate Business Intelligence:
22201: Home sales for October totaled 26, down
from 33 a year before. The average sales price of $522,580 was down
19.7 percent from a year before, while the median sales price of
$452,000 was down 20.7 percent. Homes that sold during the month
spent an average of 31 days on the market, down from 53.
22202: Sales totaled 13, up from four. The
average sales price of $576,404 was up 1.8 percent, while the
median sales price of $440,000 was down 10.7 percent. Homes spent
an average of 77 days on the market, up from 47.
22203: Sales totaled 14, down from 24. The
average sales price of $517,264 was up 7.8 percent, while the
median sales price of $562,500 was up 12.2 percent. Homes spent an
average of 67 days on the market, up from 41.
22204: Sales totaled 30, down from 36. The
average sales price of $335,453 was down 9.8 percent, while the
median sales price of $342,500 was down 1.4 percent. Homes spent an
average of 58 days on the market, down from 79.
22205: Sales totaled six, down from 14. The
average sales price of $714,004 was up 17.1 percent, while the
median sales price of $624,500 was down 0.3 percent. Homes spent an
average of 15 days on the market, down from 58.
22206: Sales totaled 22, up from 20. The
average sales price of $377,652 was down 9.3 percent, while the
median sales price of $367,450 was down 8.4 percent. Homes spent an
average of 56 days on the market, up from 41.
22207: Sales totaled 26, down from 31. The
average sales price of $915,630 was up 12.9 percent, while the
median sales price of $794,950 was up 6 percent. Homes spent an
average of 52 days on the market, up from 44.
22209: Sales totaled 12, down from 13. The
average sales price of $765,000 was up 57.5 percent, while the
median sales price of $712,500 was up 50.3 percent. Homes spent an
average of 86 days on the market, up from 60.
22213: Sales totaled two, down from seven. The
average sales price of $364,000 was down 46.6 percent, while the
median sales price of $364,000 was down 2.9 percent. Homes spent an
average of 97 days on the market, up from 95.
(Because of the relatively low number of sales by ZIP code each
month, sales figures and average sales prices tend to fluctuate
more than in a broader market, such as Arlington as a whole.)
Figures represent most, but not all, sales during the period.
All figures are preliminary, and are subject to revision.