Two Arlington zip codes saw some of Northern Virginia’s highest increases in home values over the past year, by one metric.
The new rankings, compiled by UrbanTurf, come as property values are continuing to rise both in Arlington and across the region. However, small data sets and variance in the types of properties sold may limit how much it’s possible to read into the numbers.
Arlington’s 22203 zip code, which covers an area between Fairfax Drive and Arlington Blvd including Ballston and Virginia Square, saw a 33% surge in median home prices between 2023 and 2024.
This was the highest increase in Northern Virginia. Also ranking in the top five were the 22205 zip code on the western side of the county — from East Falls Church to Virginia Hospital Center and down to Bluemont Park — with a 17.7% increase. The 22046 zip code in Falls Church, meanwhile, saw a 20.5% increase.
A market report from Bright MLS, shared with ARLnow, confirms that between January and September, the median sold price in 22203 jumped from $520,000 last year to $692,500 this year.
However, realtor Eli Tucker chalked up much of this change to a decrease in condo sales between the two years. Around 68% of 22203 sales last year were condos, while only 61% were condos this year.
Additionally, a much larger portion of the sales last year were at the senior living community The Jefferson — where the average condo sells for around $200,000 to $250,000, compared to average prices of $710,000 to $800,000 in the rest of the zip code.
“It’s a great example of why real estate data is so tricky to use on a local level,” Tucker said.
In March, data reported by The Washington Post showed only a 2.9% year-over-year increase in average home values in 22203.
In Arlington as a whole, the value of the average single-family home increased by more than $25,000 between calendar year 2023 and 2024 — from $798,500 to $824,700, according to county assessments.
That’s a lower increase than the 4.5% reported last year, 5.8% in 2022, 5.6% in 2021 and 4.3% in 2020. Inflation last year, meanwhile, clocked in at 3.4%.
The most recent numbers for Northern Virginia as a whole indicate a 4.6% increase in home values for September compared to that time last year.
