The once-hot real estate market in Northern Virginia is cooling as interest rates rise.
The median home sale price dipped slightly in July. While Arlington’s stats did not include a price drop — prices here have held up better than the outer suburbs — the number of home sales dropped.
More from the Sun Gazette:
The median sales price for homes that sold in Northern Virginia in July stood at $580,000, according to figures reported by the Virginia Realtors trade group.
While higher by nearly 5 percent than the $553,000 recorded in July 2021, the $580,000 figure trails the median sales price of $583,000 for the first seven months of 2022.
Put another way: While the year-to-date median sales price through July was up $13,100 (from $539,900 during the first seven months of 2021), July 2022’s sales price was down $3,000 from the same point a year before.
A sign of the apocalypse? No. But decidedly a sign of cooling. Especially as the summer months tend to be among the strongest, price-wise, in the local real-estate market.
Today we’re asking a somewhat counterintuitive question: do you, personally, think this dip in prices is a good thing?
After all, the run-up in home costs have come at the expense of affordability for first-time homebuyers, pricing many middle-income families out of the market for homes in places like Arlington, even as it has benefited existing homeowners.
So, purely from your perspective, do you see a home price swoon as a net negative or a net plus?
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Good Thursday evening, Arlington. Let’s take a look back at today’s stories and a look forward to tomorrow’s event calendar. đź•— News recap The following articles were published earlier today…
A look at the smallest and largest homes sold in Arlington last month, October 2023.
Children’s Weekday Program (CWP) is a non-profit preschool rooted in a play-based philosophy. We focus on developing a love of learning and exploration, cooperation, empathy, and independence.
Our caring and experienced educators create opportunities for children 16 months to 5 years old to play, learn, and grow in a nurturing environment of child-centered and developmentally appropriate experiences.
Initially established more than 50 years ago in South Arlington, CWP continues to be a lauded program in the Northern Virginia area. We are extremely proud to have been recognized as a Best Preschool in Northern Virginia Magazine for the last 4 years.
Located now in North Arlington at 2666 Military Road, CWP offers a part-time parents day out and preschool program with options to extend care both before and after school. We offer a supportive and inclusive school community for children and parents alike and welcome all families to join our school!
The Optimist Club of Arlington is holding its 77th annual Christmas tree sale!
This year, the tree sale will be held at the Knights of Columbus (5115 Little Falls Road). The lot opens for sales on November 24th. The Optimist Club is selling small and large trees ranging from tabletop size to 10 foot tall trees! Wreaths, garland, tree stands, and White House Christmas ornaments will also be for sale.
100% of all proceeds go towards helping Arlington County youth.
For more information, please visit the Arlington Optimists website at https://optimistclubofarlingtonva.org/.
Holiday Art Show
Holiday Art Show featuring artists: Peter Fitzgerald, Claire Plante, Alanna Rivera, and Suzy Scollon. At the Barcroft Community House, 800 South Buchanan St., Arlington, VA. Dec. 8 from, 2 PM to 8 PM and Dec. 9 from 10 AM to
Christmas Tree Sales
2023 Christmas Tree Sales Begin
Saturday, December 2
Get your holiday decorating off to the right start this year! We will be selling 150 Fraser firs, freshly cut and delivered from Sparta, North Carolina.
Sale Hours:
