Did Arlington just get cheaper? For a blink of an eye it did

FILE - In this Thursday, Feb. 18, 2021 file photo, a new home is for sale in Madison, Ga. Mortgage rates fell for the third straight week, dipping below 3% for the first time in two months. Mortgage buyer Freddie Mac reported Thursday, April 22 that the benchmark 30-year home-loan rate declined to 2.97% this week from 3.04% last week. (AP Photo/John Bazemore, File)(AP/John Bazemore)
Arlington County remains the most expensive county for home prices in Northern Virginia, but the median price of what sold last month was actually lower than it was a year ago.

Prices continued their upward trajectory throughout the rest of Northern Virginia.

Based on just 352 closed sales in Arlington County, the median price was $650,000, down 4% from last April, according to Long & Foster Real Estate.

The number of homes for sale in Arlington County was up 76% from a year ago, but as evidence of the fast pace at which homes are selling, the number of new listings coming on the market outpaced total inventory.

Sellers in Arlington County got an average of 101.5% of their list price.

Fairfax County accounts for the bulk of sales in Northern Virginia, with 1,845 last month. The median price in Fairfax County was $635,000, up 9% from a year ago. Fairfax sellers got an average 102.7% of their list price.

Loudoun and Prince William counties saw the biggest year-over-year increase in median selling prices, up 12%. Sellers in both areas got an average of close to 104% of list.

The number of homes for sale in Fairfax, Loudoun and Prince William counties were down double digits.

Across the river in the District, the median selling price of a home that sold in April was $660,000, up 7% from a year ago. Inventory remains extremely tight in D.C. with no change from year-ago levels, despite more than 700 new listings coming on the market last month.

Below are market snapshots for Northern Virginia and the District, courtesy of 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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