Like those pictures you have to stare at and almost go cross-eyed to see the picture within the picture – if you look closely, real estate data reveals the story behind the numbers.
We took a snapshot of October home sales for single-family, 2-family and condo homes in Arlington for both 2018 and 2019, and we have some interesting comparison findings.
| Arlington Single Family Homes | ||
|
| 2018 | 2019 |
| Single-family Homes Sold | 32 | 26 |
| Average List Price | $867,934 | $985,327 |
| Average Days to Offer | 16.9 | 33.9 |
| Average Sale Price | $883,092 | $994,631 |
As you can see, while there were fewer homes sold in 2019 than 2018, both the average list price and average sale price were up this year. However, the days to offer (DTO) was also up. For home sellers, this means you are more likely to get a good price for your home as values continue to increase. The good new for home buyers is that there is less of a frenzy, and homes are sitting a little longer to give you some breathing room.
| Arlington 2-Family Homes | ||
|
| 2018 | 2019 |
| 2-family Homes Sold | 8 | 5 |
| Average List Price | $918,250 | $934,200 |
| Average Days to Offer | 21.5 | 15.8 |
| Average Sale Price | $890,125 | $1,010,200 |
Arlington 2-family home also saw fewer sales in October of 2019 vs. October 2018, and both the average list and sale prices were up. However, properties that are available are selling like hot-cakes. Homeowners should note that the lower inventory and high demand for 2-family homes in Arlington means it could be a great time to sell.
| Arlington Condo Homes | ||
|
| 2018 | 2019 |
| Condo Homes Sold | 25 | 19 |
| Average List Price | $676,484 | $601,605 |
| Average Days to Offer | 12.9 | 12.7 |
| Average Sale Price | $700,016 | $611,974 |
Keeping on-trend, there were fewer condo home sales in 2019 than 2018, but that’s where the similarities end. Both the average list price and average sale price were down in 2019 vs. 2018, and DTO was about the same. This is good news for condo homebuyers who are looking to make a move out of the city and own their own property in a vibrant community.
Overall, we are seeing a loosening of inventory but home values continue to rise. This gives homebuyers a little more command over their situation, but home sellers should still feel confident about getting a good value on the sale of their home.
As we get closer to the end of 2019 and set our sights on 2020, we know the market will continue to shift and change. Thinking of buying or selling your home? Contact us and we can break it down for you so you can see, with 2020 clarity, your real estate possibilities in 2020!
