DMV Market Stats – January 2018

by Keri Shull

Breaking Down the Latest Market Data for Real Estate in Arlington, Virginia and the Greater Washington DC Area

Learn how the real estate market in Arlington, Virginia and the overall Greater DC Metro area is shaping up from January 2018.  Presented by Buyer Advocate Agent, Hiwa Sheikh from the Keri Shull Team.

Arlington Stats – January 2018

  • Active listings are down to a 5 year January low, with 330 current active listings.
    • Compared with 396 from January 2017, that’s a 17% decline!
  • On the bright side, however, new listings are improving from December, up 98%, increasing from 118 new listings to 234.
    • That’s a 2% decline from last January, but still – at least it recovered after such a quiet December!
  • 73 average days on market – a 5 year January high, up 28% from last Jan
  • Median sale price: at $511,500, it is down 5.7% from last January, which was $542,500
  • However, the average sale price is actually up – from $617,000 to now $640,000
    • Reasons: 4 bedroom detached home sale prices are up 12% and Condo sale prices are up 7%

 

DC Stats – January 2018

  • 6,155 active listings, a 5 year January lowdown 15% from last year
  • New listings up 51% from December, but down 6.8% from last January 
  • 56 average days on market
  • Median sale price: $400,000 – down 4.8% from last December, but up 2.5% from last January
    • Reason for this is largely because 2 bedrooms or less detached homes increased in sale price 39% from last Jan!
    • Sold for $424,000, rising $120,000 from last jan!
  • The average sales price of around $500,000 is mostly the same, increasing 0.69% from last January

Listings by the average Keri Shull Team Agent spend an average of just 38 days on the market – considerably lower than market averages.

For any questions, please don’t hesitate to reach us by calling/texting us at 703-436-2191 or by emailing us at contact@kerishullteam.com

Find us on Social Media!