Arlington home prices post first annual decline in more than a year

A home displays a ‘For Sale’ sign amid the coronavirus pandemic in Arlington, Virginia. (OLIVIER DOULIERY/AFP via Getty Images)

The median price of a home that sold in Arlington County, Virginia, in December was $625,000, down 1% from a year earlier, the first year-over-year decline since November 2019.

But sales were still brisk. The 290 closed sales in Arlington County in December was up 29% from a year earlier, according to Long & Foster Real Estate. And the 292 active listings in Arlington County at the end of December was up 131% from a year ago.

New listings that came on the market last month made up half of all active listings in Arlington.

Median prices rose throughout the rest of Northern Virginia. The median price in Alexandria City was up 9% to $610,000. The median price in Fairfax County was up 4% to $579,000.

Loudoun County’s median selling price in December, at $542,500, was up 4%, and the median price in Prince William County was up 11%, at $422,175.

Sales throughout the Northern Virginia region were up double digits compared to a year ago, led by a 38% gain in Alexandria City.

“It’s certainly a hot market right now, with units sold up and days on the market under 30 everywhere. I’m also encourage by the prices that are starting to moderate, which ensures that there won’t be affordability challenges,” said Long & Foster President Larry “Boomer” Foster.

In the Maryland suburbs, sales and prices were also up across the board, mostly by double digits.

The median price in Montgomery County was up 7% from a year ago to $480,000 in December, with sales up 23%. In Prince George’s County, the median price of $355,000 was up 11% and sales were up 12%.

Below are market snapshots for December sales in Northern Virginia and D.C.’s Maryland suburbs, courtesy Long & Foster Real Estate Inc.

CLICK TO ENLARGE: Northern Virginia home sales data. (Courtesy Long & Foster Real Estate Inc.)
CLICK TO ENLARGE: Maryland suburbs of D.C. home sales data. (Courtesy Long & Foster Real Estate Inc.)

Jeff Clabaugh

Jeff Clabaugh has spent 20 years covering the Washington region's economy and financial markets for WTOP as part of a partnership with the Washington Business Journal, and officially joined the WTOP newsroom staff in January 2016.

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