Average Arlington Single Family Homes Top $1 Million Mark

Inventory and Sales Average Above $1 Million in Arlington Virginia

The average listing price of an Arlington single family home has now topped $1 million.  As of July 13, 2007, there is currently a large inventory of 357 homes on the market in Arlington County at an average listing price of $1,025,463.

These numbers also correspond with the sales so far in July.  To date, there have been 19 detached home sales in Arlington.  The average sales price was $1,002,837, just a bit off the average asking price of $1,024,595.  These homes at a brisk pace at an average of only 25 days on the market!

These numbers are up quite a bit from just last month when the 118 sales in Arlington reflected an average sales price of $845,296 and 43 days on the market. 

Arlington's real estate market is certainly heating up!  The most expensive homes in Arlington are on the 400 block of Chain Bridge Road overlooking the river.

This data confirms the trend toward buyers wanting to live within an easy commute of D.C.  While the distant suburbs or exurbs like Loudoun County and Western Fairfax County have experienced significant growth over the last few years, many people are opting to pay a bit more for less commute and less gas!

For those buyers who want to be close to D.C. but on more of a budget, I recommend looking in nearby Alexandria as well, where homes are on average 13% less costly.

With so much inventory in Arlington, homes are located throughout the county, including the following neighborhoods:  Addison Heights, Alcova Heights, Arlington Forest, Arlington Heights, Arlingwood, Ashton Heights, Aurora Hills, Barcroft, Berkshire Oakwood (22 homes available), Bonair, Cherrydale, Country Club Hills, Douglas Park (25 homes available), Highview Park, Lee Heights, Lyon Park, Lyon Village, Nauck Green, Oakcrest, Southgate, Tuckahoe Village, and Westover.

Can't afford a million dollars?  Not to despair -- there are still 28 single family homes in Arlington for under $500,000!