The Arlington housing market continues to feel the effects of Amazon's impending arrival. This month, the effect can be seen in rising home prices, but more noticeably in a severe lack of homes for sale.
“Amazon HQ2 continues to have an impact on the Arlington housing market," Andrew Strauch of Bright MLS said. "Housing inventory in Arlington is down 50% from a year ago and closed sales are down 11% due to the lack of inventory. With prices up 10%, new listings are still down 20%. We expect to continue seeing a very tight market in Arlington.”
Below, UrbanTurf plucked out a few statistics that speak to the state of the market in the county.
- $615,000 -- The median price in Arlington in May, up 10 percent year-over-year.
- -21% -- The percentage drop in new listings to come on the market in May.
- -49% -- The percentage drop in total inventory of homes for sale.
- 100.5% -- The average sales to original list price ratio in May.
- 1.12 -- The monthly supply of homes for sale on the market, a 47 percent drop compared to last May.
- 1.22 -- The number of contracts per active listing in May. It has been above 1.0 since December.
This article originally published at https://dc.urbanturf.com/articles/blog/the-tight-arlington-market-that-amazon-has-created/15514.
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