Arlington County Virginia Luxury Housing Market Update August 218
Arlington County, Virginia - August 218 The real estate market is always changing, and if you re buying or selling a home especially a luxury property it s critical to understand the current market conditions. More than simply seeing what s happening to real estate as a whole in your local area, you need insights on what s taking place in the highend market, specifically with uncommon and unique homes like yours or those for which you re shopping. That s why Long & Foster publishes our exclusive LuxInsight report giving consumers like you invaluable information on the luxury market performance in your local area. Published monthly, LuxInsight provides you with A broad overview of real estate trends in the high-end real estate market. From median sale prices and active inventory to the current housing Demand and available active listings, LuxInsight gives you access to essential statistics you need to know. Beyond this valuable market information, Long & Foster s team of luxury sales associates is available to guide you through the real estate process. We believe luxury real estate is all about the individual, and when you work with us, you'll receive an experience tailored to your unique needs. You'll enjoy exceptional service and expertise, provided by agents who specialize in marketing and selling the most stunning luxury homes. You'll gain our exclusive connections around the world and get a luxury home experience with proven results. AT A GLANCE Active Inventory 156 New Listings 52 Units Sold 62 Median Sale Price $1,385,363 22 2 18 16 1 12 1 8 1 12 1 8 6 2 7 6 5 3 2 1 $1,5, $1,45, $1,, $1,35, $1,3, $1,25, $1,2, $1,15, $1,1, Down -11.4% Up 8.3% Up 93.8% Up 2.6% 2
Arlington County, Virginia - August 218 Compared to last August, the total number of homes more than $1 Million available this month was lower by 11.4% and lower by 14.8% compared to August 216. Active inventory this August was 8.8% lower than the previous month s supply of available inventory. Total Inventory INVENTORY PRICE RANGES $1M + 28.58% $1M - $2M 24.18% $5M+.% $2M - $5M 4.% 25 ACTIVE INVENTORY 2 15 1 154 163 174 149 114 12 1 16 21 27 193 195 183 194 178 161 145 147 159 26 29 24 187 175 176 194 183 171 133 138 145 152 177 188 198 171 156 5 1 NEW LISTINGS & NEW CONTRACTS New Listings New Contracts ACTIVE INVENTORY Versus Previous Years 12 1 8 6 2 44 22 22 48 19 52 34 19 18 17 16 15 1 183 176 156 3
Arlington County, Virginia - August 218 This month s units sold for homes more than $1 Million was higher than at this time last year, an increase of 93.8% versus last August and an increase of 5% versus August of 216. There was an increase of 5% in luxury units sold in August compared to July of this year. 8 6 2 UNITS SOLD Versus Previous Years 62 7 UNITS SOLD 6 5 3 2 1 29 25 24 22 16 19 41 57 23 3 38 34 23 35 44 63 61 51 34 38 24 24 25 35 57 62 Sold Date City Zip Code RECENT SELECTED LUXURY SALES Final List Price Final Sale Price Sale Price as % of List Price August, 218 Arlington 2221 $1,885, $1,78, 94.4% 12 August, 218 Arlington 2223 $1,7, $1,766,5 13.9% 1 August, 218 Arlington 2227 $1,8, $1,71, 9% 1 August 1, 218 Arlington 2221 $1,698, $1,68, 98.9% 74 August 6, 218 Arlington 2221 $1,565, $1,535, 98.1% 137 August 23, 218 Arlington 2227 $1,338, $1,338, 1.% 3 August, 218 Arlington 2225 $1,245, $1,235, 99.2% 1 August 17, 218 Arlington 2223 $1,285, $1,22, 94.9% 27 August 3, 218 Arlington 2225 $1,149, $1,149, 1.% 12 August 8, 218 Arlington 2225 $1,1, $1,1, 13.6% 2 DOM Buyer Long & Foster Represented Seller 4
Arlington County, Virginia - August 218 In August, the median sales price for homes more than $1 Million was $1,385,363, an increase of 2.6% compared to last year. The current median sales price was higher by 12.7% than in July. $1,, $1,38, $1,36, $1,3, $1,, $1,3, $1,28, $1,6,574 MEDIAN SALES PRICE Versus Previous Years $1,35, $1,385,363 $1,6, MEDIAN SALES PRICE $1,, $1,2, $1,, $8, $1,5, $1,35, $1,5,5 $1,38, $1,4, $1,15, $1,474,347 $1,25, $1,3, $1,349, $1,275, $1,285, $1,6,574 $1,26, $1,445, $1,235, $1,275, $1,35, $1,247,5 $1,355, $1,247,225 $1,25, $1,5, $1,286, $1,35, $1,413, $1,269,45 $1,2,5 $1,199,95 $1,25, $1,33,5 $1,387,1 $1,253, $1,3, $1,372,5 $1,229, $1,385,363 $6, $, $2, $ $1,, $9,, $8,, $7,, $6,, $5,, $,, $3,, $2,, $1,, $ $,1,243 TOTAL DOLLAR VOLUME SOLD $56,155,629 $45,853,5 $89,254,353 Total volume sold this August was 94.7% higher than the same month one year ago. 5
Arlington County, Virginia - August 218 In August, the average sale price for homes more than $1 Million was 98.2% of the average list price, which is.4% lower than at this time last year. This month, the average number of days on market was 47, lower than the average last year, which was 71, a decrease of 33.8%. 1% 98% 96% 97.8% 94% 92% 9% SALE PRICE AS % OF LIST PRICE 97.8% 98.6% 98.2% 1 9 8 7 6 5 3 2 1 67 42 58 47 79 92 86 6 26 5 35 DAYS ON MARKET 53 56 63 59 9 67 43 38 51 71 MONTHS OF SUPPLY 3 55 55 83 54 51 39 36 58 47 In August, there were 2. months of supply available, compared to in August of 217. That is a decrease of 6.% versus a year ago. 9 8 7 6 5 4 3 2 1 6. 6. 3. 8. 8. 6. 3. 8. 6. 3. 3. 3. 3. 3. 2. 6
Arlington County, Virginia - August 218 References & Definitions ARLINGTON, VA: LISTING SOURCE, REPORTING AREA, & DEFINITION Based on data supplied by the Metropolitan Regional Information Systems (MRIS) MLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. This report includes coverage for the county of Arlington, Virginia only. Analysis dates for all regions are August 1, 215 through August, 218. MEDIA CONTACT Vicki Bendure, Bendure Communications Email: Vicki@bendurepr.com Phone: (5) 687-336 Contacts & Disclaimers CREATED BY Michael Bystry, Long & Foster Real Estate, Inc. Senior Market Research Analyst DISCLAIMER "Information contained in this report is based on data provided by the local area Multiple Listing Service and its member Association(s) of REALTORS. No representation, expressed or implied, should be taken from information herein. Neither these organizations nor Long & Foster Real Estate, Inc. guarantee or are in any way responsible for the accuracy of these results, which do not reflect all activity in the marketplace. For more information regarding your specific market, contact one of Long & Foster s knowledgeable and experienced sales associates. Analysis dates are August 1, 215 through August, 218. Information contained in this report is not limited to transactions done by Long & Foster Real Estate, Inc. The data reported is solely for residential real estate transactions. Information contained in this report is deemed reliable but not guaranteed, should be independently verified and does not constitute an opinion of Long & Foster Real Estate, Inc. For more information regarding your specific market, contact one of Long & Foster s knowledgeable and experienced sales associates. Analysis dates are August 1, 215 through August, 218". Material appearing in this report may be reproduced or copied without permission. Please use the following acknowledgement for citation: Source: Long & Foster Real Estate, Inc. and also cite the appropriate MLS. 7