Home | Newsletter | Advertise
loading...

As Inventory Plummets in Arlington, Home Sales Follow Suit

  • July 15, 2019

by UrbanTurf Staff

A home that sold in Arlington last month.

The frenzy created in the Arlington housing market when Amazon announced that it would open its second headquarters resulted in rising prices, skyrocketing sales and a dearth of homes for sale. 

Now, there is so little for buyers to choose from that home sales have dropped precipitously.

In June, closed home sales in Arlington fell 27 percent. This drop was likely caused by two metrics. First, the supply of homes for sale plummeted by 55 percent year-over-year, resulting in paltry inventory in June. Second, home prices continued to rise, increasing by 8 percent year-over-year to $565,310. 

Lastly, buyers may be getting fatigued with the competition, which remains high based on the monthly contract ratio. For every active listing in June, 1.23 contracts were submitted, the second highest contract ratio ever for the county. 

This article originally published at http://dc.urbanturf.com/articles/blog/as-inventory-plummets-in-arlington-home-sales-follow-suit/15656

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse