Real Estate Market Trends: Arlington, VA vs. Mid-Atlantic
Real Estate Market Report for Arlington, Virginia and the Mid-Atlantic
This report summarizes the current real estate market trends for Arlington, Virginia, and the broader Mid-Atlantic regio
Prepared by Square Feet Appraisals in collaboration with Delaware Beaches Online
Data Source: Bright MLS Weekly Market Report (Week Ending January 19, 2025)
Key Market Metrics
| Metric | Arlington, VA | Mid-Atlantic Region |
|---|---|---|
| New Listings | 4,369 | 4,369 |
| New Purchase Contracts | 4,475 | 4,475 |
| Median Time to Contract (days) | 35 | 35 |
| Median List Price | $410,000 | $410,000 |
| Active Listings | 29,714 | 29,714 |
| % Active Listings with Price Decrease | 6.6% | 6.6% |
| Canceled Listings | 329 | 329 |
Weekly Trends Overview
- New Listings: There has been a resurgence in new listings with an increase of 19.0% compared to the previous week and 8.5% compared to the same week last year. This indicates a strong response from sellers aiming to meet pent-up demand in the market
- Contract Times: Homes are taking longer to sell than they did last year. The median time to contract stands at 35 days, which is six days longer than this time last year and represents the slowest pace for mid-January in five years
- New Contracts: New purchase contracts have decreased by 3.9% compared to last year, continuing a trend of lower activity since the start of the year. Despite an increase in supply, rising mortgage rates above 7% and increasing home prices are discouraging many potential buyers
Market Takeaways
- Increased Inventory: The significant rise in new listings suggests that sellers are optimistic about market conditions and are eager to capitalize on buyer interest.
- Slowing Sales Pace: The increase in median time to contract indicates a cooling market where buyers may be taking more time to make decisions amid economic uncertainties.
- Price Stability: The median list price has seen a modest increase of 2.8% over the past year, reflecting a stable pricing environment despite fluctuations in buyer activity
- Buyer Hesitancy: The decline in new purchase contracts highlights buyer hesitancy likely driven by higher mortgage rates and economic factors impacting affordability.
This report underscores a dynamic real estate environment in Arlington and the Mid-Atlantic region as it adapts to changing economic conditions and buyer sentiment.
Conclusion
The real estate market in Arlington, Virginia, and the broader Mid-Atlantic region is currently experiencing a complex landscape characterized by an increase in new listings and a slower pace of sales. While the rise in inventory suggests optimism among sellers, the extended time to contract indicates that buyers are exercising caution, likely due to higher mortgage rates and economic uncertainties. Overall, the market reflects a balance between supply and demand, with median prices remaining stable. As we move further into 2025, stakeholders should remain vigilant about economic trends that could influence buyer behavior and market dynamics. Understanding these factors will be crucial for both buyers and sellers navigating this evolving real estate environment.
