Home Sales Surge in Arlington County

ARLINGTON, VA — Home sales went through the roof in Arlington County in November, according to a new report from realtor Long and Foster.

A total of 242 units were sold in Arlington last month, a whopping 31 percent increase compared to the same period a year ago. That figure was perhaps helped by a dip in housing prices, which fell 7 percent to a median sale price of $527,500.

There's a lot less for home buyers to choose from, as inventory was down big -- about 20 percent -- compared to last November, with 535 units listed.

Arlington experienced the biggest surge in sales sales of any other county or city in Northern Virginia, beating out Alexandria, which was up 23 percent, and Fairfax County, which was up 21 percent.

“November was another good month for the United States economy, with consumer confidence hitting one of its highest numbers since 2007. In the Mid-Atlantic and Northeast housing market, we saw a number of positive trends as well, including in the Northern Virginia region,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies, ina statement. “Although inventory is still sparse, many people are choosing to buy a home, taking advantage of mortgage rates while they remain low.”

Image via David Smith