Sun Gazette Arlington, January 26, 2017

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INSIDE: Your Guide to the Real Estate Market Across the Region

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Sun Gazette

VOLUME 82 NO. 8 JAN. 26-FEB. 1, 2017

ARLINGTON’S SOURCE FOR HOMETOWN NEWS SINCE 1935

Homes Sales Up, Prices Flat Over Past Year

PASSING ON THE LEGACY OF CIVIL RIGHTS

Arlington Transactions Rise 2.1%; N.Va. Records Its Best Year Since ‘05

Singer Helen Slade, famous for her residency at the acclaimed Cotton Club, led the audience in a rendition of “We Shall Overcome” and then invited children up to sing and dance to “This Little Heart of Mine” during the Arlington County government’s tribute to Martin Luther King Jr. held Jan. 15 at Wakefield High School. Find more photos at www.insidenova.com/news/arlington. PHOTO BY DEB KOLT

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The Arlington real estate market saw both home sales and total sales volume up in 2016 compared to 2015, according to new figures, while the average and median sales prices were little changed from a year before. A total of 2,940 properties went to closing last year across the county, according to figures reported by the Northern Virginia Association of Realtors (NVAR). That’s up 2.1 percent from the 2,881 transactions reported in 2015, and was in line with regional increases. In Arlington, the single-family, attached-home and condominium sectors all showed year-over-year improvement, while the total sales volume of $1.88 billion was up 2.4 percent. Across the region, 2016 provided “another strong showing,” said Ann Yanagihara, a Realtor in Alexandria and a member of the Northern Virginia Association of Realtors board. “We are fortunate to live in one of the most dynamic and exciting real-estate markets,’ Yanagihara said. The average sales price of all properties that sold across Arlington last year was $639,137, up 0.3 percent from $636,977. The median sales price was down 1.8 percent, from $560,000 to $550,000. The average length of time between listing and ratified contract had its ups and downs through the year, but ended at the same total (49 days) as 2015. The average sales price represented 97.5 percent of listing price, also the same as 2015. Ryan Conrad, CEO of NVAR, said the glass looked mostly full going forward. He pointed to industry experts’ predictions of increasing home prices and still relatively low mortgage-interest rates. “With home values rising and the promise of solid eco-


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Sun Gazette Arlington, January 26, 2017 by InsideNoVa - Issuu