Real Estate Market Report for Arlington, Virginia and the Mid-Atlantic
This report summarizes the current real estate market trends for Arlington, Virginia, and the broader Mid-Atlantic region.
Prepared by Square Feet Appraisals in collaboration with Delaware Beaches Online
Data Source: Bright MLS Weekly Market Report (Week Ending January 19, 2025)
Weekly Trends Overview
New Listings: There has been a resurgence in new listings with an increase of 19.0% compared to the previous week and 8.5% compared to the same week last year. This trend mirrors optimism seen in the real estate market Delaware, where sellers are responding to pent-up demand.
Contract Times: Homes are taking longer to sell than they did last year. The median time to contract stands at 35 days, which is six days longer than this time last year. This extended timeline is reflective of the broader trends seen across the Delaware housing market and the Mid-Atlantic region.
New Contracts: New purchase contracts have decreased by 3.9% compared to last year, continuing a trend of lower activity since the start of the year. Rising mortgage rates above 7% and increasing home prices are contributing to buyer hesitancy, a trend also observed in the housing market in Delaware.
Key Market Metrics
| Metric | Arlington, VA | Mid-Atlantic Region |
|---|---|---|
| New Listings | 4,369 | 4,369 |
| New Purchase Contracts | 4,475 | 4,475 |
| Median Time to Contract (days) | 35 | 35 |
| Median List Price | $410,000 | $410,000 |
| Active Listings | 29,714 | 29,714 |
| % Active Listings with Price Decrease | 6.6% | 6.6% |
| Canceled Listings | 329 | 329 |
Market Takeaways
Increased Inventory: The significant rise in new listings suggests that sellers are optimistic about market conditions and are eager to capitalize on buyer interest. This optimism is mirrored in the Delaware real estate market, where higher inventory levels provide opportunities for buyers.
Slowing Sales Pace: The increase in median time to contract indicates a cooling market where buyers may be taking more time to make decisions amid economic uncertainties. Such cautious behavior aligns with the dynamics of coastal Delaware real estate markets.
Price Stability: The median list price has seen a modest increase of 2.8% over the past year, reflecting a stable pricing environment despite fluctuations in buyer activity. This aligns with the Delaware housing market forecast 2025, where moderate price growth is expected.
Conclusion
The real estate market in Arlington, Virginia, and the broader Mid-Atlantic region is currently experiencing a complex landscape characterized by an increase in new listings and a slower pace of sales. While the rise in inventory suggests optimism among sellers, the extended time to contract indicates that buyers are exercising caution, likely due to higher mortgage rates and economic uncertainties. These dynamics are comparable to the trends observed in the Delaware real estate market and neighboring regions. As we move further into 2025, stakeholders should monitor economic trends influencing buyer behavior and market performance closely.
Understanding these factors will be crucial for both buyers and sellers navigating this evolving real estate environment.