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Avg. Home Sale Price in Arlington Dipped Slightly in February

by Bridget Reed Morawski April 10, 2018 at 4:45 pm 0

The average sale price of homes in Arlington dipped in February compared to one year prior, the first such dip for the month since 2014.

That’s according to data from the Northern Virginia Association of Realtors, which releases historical monthly data for the region and for localities including Arlington.

The general trend for February home sales has been up, however, since February 2010.

Despite the decrease in the average sale price, the number of homes — including condos, townhomes and single-family detached houses — sold in February 2018 was up 3.6 percent year over year, with a total of 175 homes sold. Selling prices were 1.48 percent less than the asking prices.

The median home selling price in Arlington in February, meanwhile, was up 0.44 percent to $532,353.

Average sale prices can be affected by changes in the mix of the types of homes sold. For instance, a higher percentage of condos — which typically sell for less than single-family homes — sold may cause a dip in the average. In February 2018, 62% of the homes sold in Arlington were condos, compared to 58% in February 2017.

Update at 5 p.m. — Another source of local real estate data, Bright MLS, is reporting a jump in Arlington’s median home selling price in March.

“Arlington County led the region for price, with a median selling price in March of $564,250,” WTOP reported Tuesday afternoon. “That’s up 11 percent from a year ago and topped D.C.’s median price of $555,451, which was up 3.8 percent.”

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