The housing market in Arlington County, Virginia, is not cooling off, with sales and prices showing among the biggest gains in the nation in September.
The median price of what sold in Arlington County last month was $710,000. That’s the highest county-level median price in Northern Virginia, and up 21% from last September. The number of closed sales in Arlington County in September, 273 of them, was up 39% from a year ago, according to Long & Foster.
In Alexandria City, the median price last month was $527,500, up 5% from a year ago. The 272 sales that closed in Alexandria last month was up 49% from last September.
Arlington County and Alexandria have something else in common: rising inventory, even as the number of homes for sale elsewhere in Northern Virginia is falling.
Long & Foster attributes that to the Amazon effect.
“Since people bought homes so aggressively in that area the past two years, the inventory levels are finally seeing some relief, causing them to look like they’ve risen,” said Larry Foster, president of Long & Foster Real Estate.
Elsewhere in the D.C. suburbs in September, per Long & Foster Real Estate Inc.:
Fairfax County, Virginia:
Median price: $590,000 — up 17% year-over-year
Homes sold: Up 31% (1,591)
Loudoun County, Virginia:
Median Price: $550,000 — up 10% year-over-year
Homes sold: Up 39% (809)
Prince William County, Virginia:
Median price: $423,000 — up 11% year-over-year
Homes sold: Up 36% (801)
Montgomery County, Maryland:
Median price: $490,000 — up 14% year-over-year
Homes sold: Up 33% (1,309)
Prince George’s County, Maryland:
Median Price: $350,000 — up 9% year-over-year
Homes sold: Up 9% (1,078)
