Total sales volume in Arlington’s homes market tiptoed over the $100 million mark in January, up 20.4 percent from a year before on both stronger sales and higher prices.
A total of 123 properties went to closing in January, according to figures reported Feb. 12 by Bright MLS based on data from MarketStats by ShowingTime.
That’s up 17 percent from the 105 properties that changed hands in January 2023.
The average sales price of all properties that sold – $802,723 – was up 3.6 percent from a year before, with increases in two of three segments of the market:
• The average sales price of single-family homes rose 5.8 percent to $1,361,794.
• The average sales price of attached homes (townhouses, rowhouses and condominiums) was up 2.5 percent to $543,167.
• The average sales price in the condo-only segment was $475,635, a decline of 1.1 percent.
A total of 40 properties went to closing for more than $1 million, including one for more than $2.5 million.
Add up the sales and prices, and total sales volume for the month stood at $100,069,176, an increase from $83,093,723.
As the market begins its pivot to springtime, Arlington continues to deal with a lack of available properties.
At the end of January, there were an even 200 homes on the market, down from 245 a year before, and the number of homes coming onto the market for the month (180) was down from 198 a year ago.
But the sales trajectory is pointing higher, with pending sales in January up 2.8 percent from a year before and likely to translate into higher consummated transactions in coming months.
Figures represent most, but not all, homes on the market. All January 2024 figures are preliminary and are subject to revision.
