Home sales across Arlington were down in January compared to a
year before, but a lower inventory of properties on the market
helped stabilize and push higher average and median sales
prices.

A total of 122 properties changed hands last month, according to
figures reported Feb. 10 by RealEstate Business Intelligence, an
arm of the local multiple-listing service. That’s off 6.9 percent
from the 131 homes that sold in January 2011.

The average sales price of all homes sold last month was
$558,656, an increase of 9.9 percent from a year before. While part
of the bump upward was due to a larger number of single-family
sales in the overall mix than a year before, average sales prices
were up in all three segments of the market:

* The average price for single-family homes was $726,282, an
increase of 4.4 percent from a year before.

* The average price for attached homes, such as townhouses or
rowhouses, was $453,610, an increase of 20.2 percent.

* The average price for condominiums and cooperatives was
$426,776, up 17.2 percent.

The median sales price of all homes that sold during the month
was $513,500, up 17.2 percent. The median is the point at which
half of homes sold for more, half for less, and is seen by some as
a more accurate gauge of the direction of the market.

Homes that sold in January garnered 95.4 percent of original
listing price, up from 94.1 percent a year before, and spent an
average of 77 days on the market between listing and ratified
contract, down from 79.

There were eight million-dollar-or-more transactions during the
month.

Of homes that sold in January, conventional mortgages
represented the financing mechanism in 83 cases, followed by cash
(20) and FHA-backed mortgages (12).

At the end of the month, there just 440 properties listed for
sale across the county, down 12 percent from the 501 homes on the
market a year before. Having fewer homes on the market tends to
shore up prices.

The total sales volume across the county in January was $68.2
million, up from $66.6 million a year before.

Among Arlington ZIP codes, the following sales figures were
reported by RealEstate Business Intelligence. The relatively low
numbers of sales per month in individual ZIP codes across the
county leads to larger swings than is seen in the countywide
home-sales report.

22201: January home sales totaled 15, down from
25 a year before. The average sales price of $706,663 was up 43
percent from a year before, while the median sales price of
$560,000 was up 13.1 percent. Homes spent an average of 75 days on
the market, compared to 63 a year before.

22202: Sales totaled nine, up from six. The
average sales price of $329,800 was down 34 percent, while the
median sales price of $295,000 was down 32.2 percent. Homes spent
an average of 59 days on the market, down from 139.

22203: Sales totaled eight, down from 15. The
average sales price of $271,163 was down 37.8 percent, while the
median sales price of $240,950 was down 39 percent. Homes spent an
average of 180 days on the market, up from 75.

22204: Sales totaled 25, up from 22. The
average sales price of $348,630 was up 16.5 percent, while the
median sales price of $389,000 was up 27.8 percent. Homes spent an
average of 97 days on the market, down from 98.

22205: Sales totaled 11, down from 15. The
average sales price of $732,864 was down 1 percent, while the
median sales price of $689,900 was up 11.3 percent. Homes spent and
average of 74 days on the market, up from 71.

22206: Sales totaled 14, down from 15. The
average sales price of $373,597 was up 6.9 percent, while the
median sales price of $337,500 was down 6 percent. Homes spent an
average of 54 days on the market, up from 38.

22207: Sales totaled 18, down from 21. The
average sales price of $723,167 was down 2.4 percent, while the
median sales price of $790,000 was up 5.3 percent. Homes spent an
average of 86 days on the market, down from 100.

22209: Sales totaled 18, up from 10. The
average sales price of $792,272 was up 38.8 percent, while the
median sales price of $629,500 was up 59.4 percent. Homes spent an
average of 33 days on the market, down from 68.

22213: Sales totaled five, up from three. The
average sales price of $695,605 was up 63.4 percent, while the
median sales price of $620,000 was up 24 percent. Homes spent an
average of 34 days on the market, down from 82.

Figures represent most, but not all, homes on the market. All
figures are preliminary, and are subject to revision.