Arlington County Inventory at Lowest Point in Four Years
Inventory in Arlington County, Virginia for January 2018 hit its lowest point in the past four year with only 330 Active Listings on the MRIS. This represents a 1.3 Months of Supply rate based on inventory and pending sales. There were 234 New Listings for the period. Both numbers represent a drop of 17% and 2%, respectively, when compared to the same period last year. The last time Inventory was this scare was in December 2013.
Under Contract and Contingent properties increase by double digits in January as Buyers raced to consume any available property. Total Units sold remained relatively unchanged at 154. The only significant increase was Days on Market which jumped from 57 days to 73 year over year. Average Sold Price to List Price was 96.05% with a Median Sales Price of $511,500. The average price per square foot remained level at $454.