Where are the sellers? Arlington and Alexandria real estate inventory cut in half

The inventory squeeze continues in Northern Virginia, and nowhere is it more pronounced than in Amazon HQ2’s new backyard.

Long & Foster’s May market snapshot shows that the number of homes on the market in Arlington County in May was down 51% from a year ago. Active listings in Alexandria are down 59% from last May.

With considerably less to look at, combined with rising prices, home sales throughout Northern Virginia were universally lower last month.

Sales in Alexandria were down 4%; Arlington County sales were down 11%. Sales were even lower than a year ago in Fairfax and Loudoun counties — 2% and 3%, respectively.

Prices were also generally higher, led again by Arlington County.

Long & Foster said the median price of what sold in Arlington in May was $615,500, up 9% from last May. Sellers in Arlington also got, on average, 100.5% of list price.

Below is a snapshot of Northern Virginia’s housing market activity in May, from Long & Foster:

Click to expand: A snapshot of Northern Virginia’s housing market activity in May 2019. (Courtesy The Long & Foster Companies)

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