Virginia

<p><a href="https://www.realtytrac.com/market-trends/arlington-va/">Average property values in Arlington, VA</a>, have fluctuated in recent months, peaking in February 2024 at $712,000 and dropping to $665,000 in March. <a href="https://www.realtytrac.com/arlington-va/for-sale/">Homes on sale</a> have maintained a stable trajectory, with the highest number of sold homes in September of last year when 1,919 properties changed owner. Compare that to April this year were there were 1,501 properties sold.</p>
<p>The average sold price per square foot rose from $553 in May 2023 to $575 in April 2024.</p>
<h2>Comparative Real Estate Trends in Nearby Cities</h2>
<ul>
<li>Falls Church, experienced an increase in average home values, which grew from $650,000 in May of last year to $672,000 by April this year – a 3% increase in less than a year. This type of rise is a clear indicator of the strength of <a href="https://www.realtytrac.com/market-trends/falls-church-va/">Falls Church’s real estate market</a>.</li>
<li>In Dunn Loring the average property value spiked to $1,544,000 in July 2023 before settling to a more moderate $747,000 in December.</li>
<li>In <a href="https://www.realtytrac.com/market-trends/annandale-va/">Annandale</a>, the average value dropped $30k from $600,000 in May 2023 to $570,000 in April 2024. In the meantime, house prices in Mc Lean went from $1,586,000 in May 2023 only to reduce slightly to $1,485,000 in April 2024.</li>
</ul>
<p>These neighboring cities indicate a generally healthy market with upward trends in property values, albeit with different growth rates and scales.</p>
<h2>Current Real Estate Metrics in Arlington, VA</h2>
<table class="sc-7568d94b-0 lffsHh">
<thead class="sc-7568d94b-1 fnNaKO">
<tr class="sc-7568d94b-4 fHMrnc">
<th class="sc-7568d94b-2 hTsliE"></th>
<th class="sc-7568d94b-2 hTsliE">May 2023</th>
<th class="sc-7568d94b-2 hTsliE">April 2024</th>
<th class="sc-7568d94b-2 hTsliE">Change</th>
</tr>
</thead>
<tbody class="sc-7568d94b-3 jhbPdf">
<tr class="sc-7568d94b-4 fHMrnc">
<td class="sc-7568d94b-5 sc-7568d94b-6 eqHQXK bfejLS">Median Listing Price</td>
<td class="sc-7568d94b-5 eqHQXK">$704.5K</td>
<td class="sc-7568d94b-5 eqHQXK">$806K</td>
<td class="sc-7568d94b-5 eqHQXK"><span class="sc-7568d94b-7 kxsCqf postive">14.41%</span></td>
</tr>
<tr class="sc-7568d94b-4 fHMrnc">
<td class="sc-7568d94b-5 sc-7568d94b-6 eqHQXK bfejLS">Median Sold Price</td>
<td class="sc-7568d94b-5 eqHQXK">$755.2K</td>
<td class="sc-7568d94b-5 eqHQXK">$806K</td>
<td class="sc-7568d94b-5 eqHQXK"><span class="sc-7568d94b-7 kxsCqf postive">6.72%</span></td>
</tr>
<tr class="sc-7568d94b-4 fHMrnc">
<td class="sc-7568d94b-5 sc-7568d94b-6 eqHQXK bfejLS">Homes For Sale</td>
<td class="sc-7568d94b-5 eqHQXK">317</td>
<td class="sc-7568d94b-5 eqHQXK">300</td>
<td class="sc-7568d94b-5 eqHQXK"><span class="sc-7568d94b-7 kxsCqf negative">-5.36%</span></td>
</tr>
<tr class="sc-7568d94b-4 fHMrnc">
<td class="sc-7568d94b-5 sc-7568d94b-6 eqHQXK bfejLS">Homes Sold</td>
<td class="sc-7568d94b-5 eqHQXK">1,578</td>
<td class="sc-7568d94b-5 eqHQXK">1,501</td>
<td class="sc-7568d94b-5 eqHQXK"><span class="sc-7568d94b-7 kxsCqf negative">-4.88%</span></td>
</tr>
</tbody>
</table>
<p>Arlington continues to demonstrate a high level of activity with a sale price averaging <strong>$806,000</strong> and an average sold price per square foot at a healthy <strong>$575</strong>, surpassing the average value per square foot. This suggests that homes may be selling for more than their listed value, pointing to a competitive market where demand may exceed supply.</p>
<p>There were 1,501 sold homes last month, the lowest number for the specified period but not necessarily an alarming figure. Right now, buyers are more discerning or are leveraging market conditions to negotiate better terms.</p>


Market Reports

Arlington Real Estate Sees Modest Growth in Early 2024

The Arlington, VA real estate market displays mild volatility, with fluctuating average property values and sale volumes, but remains overall stable.

Arlington Real Estate Sees Modest Growth in Early 2024 - RealtyTrac

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Resource

RealtyTrac

Manuel is an expert in all things real estate, including buying and flipping homes.

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