The Long & Foster Market Minute

Focus On: Arlandria and Del Ray Housing Market March 2021

Zip Code(s): 22305 and 22301
Units Sold
65
Active Inventory
21
Median Sale Price
$825,000
Days On Market
14
Up
Vs. Year Ago
Down -19%
Vs. Year Ago
Up 7%
Vs. Year Ago
Up 40%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 65 sold this month in Arlandria and Del Ray Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 5 units or 19%. The total number of active inventory this March was 21 compared to 26 in March 2020. This month's total of 21 is lower than the previous month's total supply of available inventory of 32, a decrease of 34%.

Median Sale Price
Last March, the median sale price for Arlandria and Del Ray Homes was $769,000. This March, the median sale price was $825,000, an increase of 7% or $56,000 compared to last year. The current median sold price is 9% higher than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
57
Current Contracts
61
Sold Vs. List Price
101.1%
Months of Supply
0.3
Up 58%
Vs. Year Ago
Up 110%
Vs. Year Ago
Down -1.6%
Vs. Year Ago
Down -63%
Vs. Year Ago

Months of Supply
In March, there was 0.3 months of supply available in Arlandria and Del Ray, compared to 0.9 in March 2020. That is a decrease of 63% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 57 homes newly listed for sale in Arlandria and Del Ray compared to 36 in March 2020, an increase of 58%. There were 61 current contracts pending sale this March compared to 29 a year ago. The number of current contracts is 110% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Arlandria and Del Ray was 101.1% of the average list price, which is 1.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 14, higher than the average last year, which was 10, an increase of 40%.

The Long & Foster Market Minute Arlandria and Del Ray are defined as properties listed in zip code/s 22305 and 22301.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.