The Arlington VA Real Estate Market Outlook
Directly across the Potomac River from DC, Arlington is a center of both government and private jobs and this makes the area a very popular spot for real estate investment. With a wide variety of housing options and price ranges and a brisk market, the outlook for Arlington real estate looks good.
Lifestyle Options
Arlington offers a variety of residential real estate options for you to consider including: town homes, condominiums, attached row houses, duplexes and single-family homes. You will find the most choice with single-family homes where currently there is usually about 260 homes on the market. There are usually about 90 condos and 90 town homes on the market. In addition, you will usually find a few attached row houses and duplexes.
Price Options
Taking all residential real estate options into consideration, it is possible to buy property in Arlington for as low as $90,000 and as high as $4 million.
Market Stability
Approximately 80% of all homes sold in Arlington sold for a profit and the foreclosure rate is relatively low. When you take a look at the median sales price of a home over the last few years, you will see that prices are not falling. For example, the median sales price of a home in Arlington is currently about $485,000. A year ago, the median sales price was $448,000 and it was $456,000 a year before that. This indicates a strong and relatively stable market. The data shows that there is far less risk in buying property in Arlington than what is happening in other parts of the country. The good jobs market and the proximity to DC undoubtedly have an effect on the real estate market here.
Other Data
The Arlington VA real estate market appeals to both high-income families and high-income singles who work in the area. The population is around 200,000 and the median household income is about $63,000, which is about $20,000 higher than the national average. There is also a significant number of foreign born residents.
Summary
Whether you are an investors looking for an opportunity to buy into a rising market or an individual or family looking to buy rather than rent, all the data suggests that the Arlington real estate market is a safe bet. For investors, it is good to know that 56% of the population is renters so if buying to rent is your goal, this is a good market. The stability of home prices is a good indicator as is the fact that homes are selling in the area. So far this year, 200 homes have sold. All in all, there is every indication that the strength of the Arlington Real Estate market is good.
Lifestyle Options
Arlington offers a variety of residential real estate options for you to consider including: town homes, condominiums, attached row houses, duplexes and single-family homes. You will find the most choice with single-family homes where currently there is usually about 260 homes on the market. There are usually about 90 condos and 90 town homes on the market. In addition, you will usually find a few attached row houses and duplexes.
Price Options
Taking all residential real estate options into consideration, it is possible to buy property in Arlington for as low as $90,000 and as high as $4 million.
- Town Homes: The price range for town homes ranges from about $270,000 for a one bedroom, one bath unit to as high as $4 million for a 4 bedroom, 4-bath luxury town home.
- Condominiums: Condominiums range in price from about $90,000 for a one bedroom, one-bath unit to about $830,000 for a 2 bedroom, 2-bath unit.
- Attached row houses: Attached row houses range in price from a low of $260,000 for a one bedroom, one-bath unit to about $500,000 for a 3 bedroom, 3-bath home.
- Duplexes: Duplexes range in price from about $270,000 for a 2 bedroom, 1-bath unit to about $400,000 for a 3 bedroom, 1-bath unit.
- Single-Family Homes: Single-family homes range in price from $250,000 for a 1 bedroom, 1-bath home to $3,800,000 for an estate home with 7 bedrooms and 7 baths.
Market Stability
Approximately 80% of all homes sold in Arlington sold for a profit and the foreclosure rate is relatively low. When you take a look at the median sales price of a home over the last few years, you will see that prices are not falling. For example, the median sales price of a home in Arlington is currently about $485,000. A year ago, the median sales price was $448,000 and it was $456,000 a year before that. This indicates a strong and relatively stable market. The data shows that there is far less risk in buying property in Arlington than what is happening in other parts of the country. The good jobs market and the proximity to DC undoubtedly have an effect on the real estate market here.
Other Data
The Arlington VA real estate market appeals to both high-income families and high-income singles who work in the area. The population is around 200,000 and the median household income is about $63,000, which is about $20,000 higher than the national average. There is also a significant number of foreign born residents.
Summary
Whether you are an investors looking for an opportunity to buy into a rising market or an individual or family looking to buy rather than rent, all the data suggests that the Arlington real estate market is a safe bet. For investors, it is good to know that 56% of the population is renters so if buying to rent is your goal, this is a good market. The stability of home prices is a good indicator as is the fact that homes are selling in the area. So far this year, 200 homes have sold. All in all, there is every indication that the strength of the Arlington Real Estate market is good.
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