Real Estate Report: Spotlight on Arlington, Virginia
Prepared by Square Feet Appraisals in collaboration with Delaware Beaches Online
Data Source: Bright MLS Weekly Market Report, Week Ending December 1, 2024
Year-over-Year Changes in Real Estate Metrics: Arlington, VA vs. Mid-Atlantic
Arlington, Virginia: A Premier Real Estate Market
Overview
Arlington, Virginia, continues to shine as a high-demand market within the Mid-Atlantic region. Known for its proximity to Washington, D.C., top-rated schools, and vibrant neighborhoods, Arlington balances luxury living with strong investment potential.
Key Market Highlights for Arlington
| Metric | Value | YoY Change | Comments |
|---|---|---|---|
| Median List Price | $700,000+ | +5.0% | Elevated prices reflect demand for high-value homes. |
| Median Time to Contract | ~21 days | -1 day | Homes sell faster than the regional average of 28 days. |
| New Listings | Declining | -25.0% | Sellers remain cautious in the current environment. |
| Active Listings | Moderate Growth | +10.0% | Inventory has grown but remains limited in prime areas. |
Trends Driving Arlington’s Real Estate Market
- Luxury Segment Growth
- Upscale homes and condos dominate Arlington’s market, appealing to affluent buyers.
- Properties in neighborhoods like Clarendon, Ballston, and Rosslyn are particularly sought after for their urban lifestyle amenities.
- Proximity to D.C.
- Arlington benefits from its close ties to Washington, D.C., attracting professionals and government employees.
- Homes near public transit hubs, such as the Metro’s Orange and Silver lines, command premium prices.
- Investment Appeal
- Rental properties, especially condos, offer strong returns due to consistent demand from young professionals.
Challenges in Arlington’s Market
| Challenges | Impact |
|---|---|
| High Prices | Entry-level buyers face affordability issues, particularly with rising mortgage rates. |
| Limited Supply | Inventory growth YoY is modest, but prime properties remain scarce. |
| Competition in the Luxury Market | Sellers must highlight unique features to stand out in a crowded high-end segment. |
Neighborhood Insights
| Neighborhood | Key Features | Market Demand |
|---|---|---|
| Clarendon | Urban amenities, luxury condos, vibrant dining scene. | High among young professionals. |
| Ballston | Mix of luxury and mid-tier properties, access to Metro. | Steady demand for rentals and single-family homes. |
| Rosslyn | Proximity to D.C., high-rise condos with river views. | Strong interest from executives and diplomats. |
| Shirlington | Quaint, walkable with townhome options. | Popular among families and retirees. |
Arlington vs. Mid-Atlantic: Comparative Metrics
| Metric | Arlington, VA | Mid-Atlantic Average |
|---|---|---|
| Median List Price | $700,000+ | $385,000 |
| Median Time to Contract | ~21 days | 28 days |
| Active Listings Growth | +10.0% YoY | +12.0% YoY |
| New Listings Decline | -25.0% YoY | -30.1% YoY |
Recommendations for Arlington Buyers and Sellers
For Buyers
- First-Time Buyers: Consider condos or smaller homes near Metro lines to balance location and affordability.
- Luxury Buyers: Explore neighborhoods like Rosslyn and Clarendon for high-end properties with city views.
For Sellers
- Highlight proximity to transit, schools, and amenities to attract buyers.
- Price competitively, as homes in the $700,000+ range are in strong demand but require strategic marketing to stand out.
For Investors
- Arlington remains a top rental market. Focus on properties near universities or business hubs to attract consistent tenants.
For more information and weekly insights, visit Bright MLS Market Updates.
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