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Arlington Housing Market Remains Steady So Far In 2021

While the Coronavirus pandemic continues to upend our lives, it has not impacted the strength of the Arlington, VA, real estate market.

The Arlington County housing market remains steady with the number of all homes sold during the first half of 2021 increasing while the average home sales price for all homes up 1.2 percent compared to 2020.
However, while prices for single-family homes and townhomes grew and the time it takes to sell them remained steady (townhomes) or went down slightly (single-family), condo values dropped and the time to sell them increased by 57 percent from 21 days to 33 days.

This reinforces the shift I am still seeing of home buyers moving away from purchasing condominiums and instead buying single-family homes, as people look for more space to accommodate home offices and home gyms.
Now, let’s look at the housing market numbers for the first half of this year:

Arlington County Home Sales Have Increased

There were 1,776 homes sold in Arlington from January 1 through June 30, 2021. That’s up 9 percent from the last 6 months of 2020. And I expect home sales for all of 2021 to increase by 20 percent over 2020.

Overall Home Prices Were Up 1.2% In Arlington, Led By Townhomes

While the average home sales price in Arlington during the first six months of 2021 was only up 1.2 percent to $787,067 versus 2020’s $777,414, there was a wide range of changes depending on the type of property:

  • Townhome prices jumped 4.7% to $736,398 from $703,453.
  • Single-family home prices were up 3.8% to $1,234,573 from $1,189,498.
  • Condo prices were down 3.2% to $453,426 from $463,210.

Arlington remains a strong seller’s market (except for condos) and I continue to see homes that are updated, staged to look their best, and ready to move in receiving multiple offers and price escalation clauses.
If you’re looking to buy in the Arlington area see how I can help you buy a home, or download my Home Buyer’s Guide to help orientate you on not just the overall process but also how we can collaborate together!

And, if you are looking to sell your Arlington home check out the five ways I can help you sell.

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Arlington Housing Market Stayed Strong In 2020 With Prices Up 10.5%

While the Coronavirus pandemic upended life in 2020, it did not impact the Arlington, VA, real estate market as much as expected.

The Arlington County housing market remained strong with the number of homes sold in 2020 remaining steady while the average home sales price increased 10.5 percent compared to 2019.

One notable change was the shift to home buyers moving away from purchasing condominiums and instead to buying townhomes as people looked for more space to accommodate home schooling and home offices.

Now, let’s take a little deeper dive into the 2020 housing market numbers:

Arlington County Home Sales Overall Were Flat In 2020

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What We Call “Home” Is Taking On A New Meaning … And Other Such Thoughts As We Near 2021

As we enter further into a time of year that many refer to as “the holiday season,” my mind swarms with so many thoughts about the state of home buying and selling affairs, not just in our immediate area of Arlington, Virginia, but nationally as well.

Now that the presidential election has ended, and the days of autumn inch closer towards the upcoming winter season, I can’t help but think about all that’s happened in 2020 as well as what awaits us all in the coming new year.

At random, here are some of my various thoughts that come to mind as I reflect on the whirlwind that’s been 2020 and what I hope and see for 2021:
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This Beautiful Arlington Home Went Under Contract In Just 5 Days!

Our local real estate market, despite tight inventories and challenges presented by COVID19, has continued to stay active and homes for sale in our area don’t last long; many fly off the market in a matter of a few short days!

This summer, I assisted a variety of clients and families in buying or selling their homes in our immediate area but the home featured in this post was a favorite:

5729 8TH ST N, ARLINGTON, VA, 22205

This beautiful 4BR/3.5BA home in Arlington went under contract in 5 days!

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Arlington, VA, housing market remains healthy with prices up but less homes for sale

The question I am asked the most recently: How has the coronavirus pandemic impacted the local real estate market? The answer is that the Arlington, VA, housing market remains healthy with prices up but less homes for sale in April. While it has slowed, people are still continuing to buy and sell homes.

Number Of Homes For Sale Down 18%

Compared to April 2019 the number of homes coming on the market and going under contract in Arlington in April 2020 is down:
* Homes listed for sale fell 18% (279 vs 341).
* Homes under contract tumbled 35% (191 vs 294).
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Thoughts About Coronavirus, Home Buying and Home Selling in Arlington, Virginia

As I write this post, my thoughts are with everyone in Arlington County and throughout our country – as we all grapple with the uncertainty, stress, and worry that Coronavirus has brought into our worlds.

We don’t know how long this will go on.

But we do know that this is a moment that will change almost everything. So I am trying to figure out how to change with it as a way to continue to help my clients.

It is my sincere hope you and your loved ones are safe, healthy, and hunkering down as we all work together to get through this era of #QuarantineLife and social distancing.

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5 Tips For Buying A Home In Arlington, VA’s, Seller’s Market

If you are looking to buy a home in Arlington, you are competing in the hottest seller’s market in the country, according to Realtor.com and the Wall Street Journal (subscription required).

Why is the Arlington, VA, housing market so challenging for homebuyers? There were 18 percent fewer homes for sale in January versus a year ago. There are a number of reasons why there are more buyers than sellers, including:

  • The effect of the new Amazon headquarters (HQ2).
  • Continuing low interest rates on mortgages.
  • One of the lowest unemployment rates in the country.
  • Homeowners are staying in their homes longer.

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