Home | Newsletter | Advertise
loading...

Arlington and Alexandria Most Competitive Housing Markets Nationwide, Per Report

  • August 19th 2019

by Nena Perry-Brown

Map of the areas impacted by the HQ2 effect, courtesy of Redfin. Click to enlarge.

In case you needed more evidence of the Amazon effect in northern Virginia, look no further.

Redfin's most recent ranking of the nation's most competitive housing markets places both Arlington and Alexandria at the top of the list, tied with Grand Rapids, Michigan. The report uses data on waived contingencies, number of offers, days on market and premium above listing price to identify which cities have the greatest competition for would-be homebuyers.

In July, listings sold in a median of 11 and 14 days in Arlington and Alexandria, a week less than the previous July for both jurisdictions. The gradual pacing of Amazon HQ2's arrival seems to be exacerbating constrained supply and competition in Arlington and Alexandria. There were half as many listings on the market last month as there were in July 2018.

The constrained supply is leading to a sense of urgency among buyers, and has translated to 46 percent of listings in Arlington and 36 percent of listings in Alexandria selling at or above asking price in July. The low number of actual sales, however, has flattened median prices year-over-year in both places.

This article originally published at https://dc.urbanturf.com/articles/blog/report-ranks-arlington-and-alexandria-most-competitive-markets-nationwide/15777.

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