Raymond D. H…, Both Buyer and Seller in Arlington, VA 22207-...

how much has average prices fallen in past year in Zip code 22207?

Asked by Raymond D. Holt, Arlington, VA 22207-2323 Wed Jul 22, 2009

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Christine Ri…, Agent, Arlington, VA
Wed Jul 22, 2009

Hello Raymond,

According to the statistics provided by MRIS, the Metropolitan Regional Information Service, average prices for homes actually sold in 22207 have dropped by 10.15 percent over the past year. Trends, however, are very different depending on the price range for the home. For instance, the market for homes priced over $1million is very different than for homes under $1million. Check out my website for 22207 and you'll find a price trend chart that I can break down by quartile for you if you'd like.

Hope that helps,
1 vote
Jane Jensen, Agent, Mclean, VA
Wed Jul 22, 2009
While the average sales price in 22207 has fallen 10.15%, the total volume of sales has risen 14.35%.
That's an indication that homes are selling well when buyers perceive "value".
These statistics come from the multiple listing system so will not include "for sale by owner" sales or any transactions not listed in the MLS.
1 vote
Monika Kaiser, Agent, Arlington, VA
Fri Jul 31, 2009
Although we all love statistics and regard them as evidence, they should be taken with a grain of salt. Especially, if they cover a short period of time. So for instance the average price in 22207 showed a minus of 9.37 % in May and 17,92 % in February of 2009. While you should look at the numbers, there are other indicators of what makes a stable neighborhood. And above all remember that real estate is no short term investment. For more advise check out my website http://www.mokaiser.com or give me a call (202) 415 4266
Web Reference:  http://www.mokaiser.com
0 votes
Jowita, , Arlington County, VA
Wed Jul 22, 2009
North Arlington is a popular area and close proximity to DC, most likely the area will continue in it's popularity. North Arlington will also differ in price from neighborhood to neighborhood and even blocks/streets within any given neighborhood. The key is looking at the neighborhood which interests you at the price-point that best fits your financial strategy and saying, "what are the TRUE status of this area"? Reviewing SOLD, ACTIVES and comparing what you get for the $$$$$ when buying or trying to sell.

Median Sales Price year to date (June '09 to June '08) in Arlington County dropped -1.5%
Average SOLD price in 22207 in /08 was $830K compared to '09 $746K (about -10/15%)

What a neighbor sold their property for maybe be the best indicating of your property's value. Look at updates, lots sizes, basements.....it's all about those little fine details:)

Jowita Klein
703.405.1186 Cell
Web Reference:  http://www.jowitaklein.com
0 votes
Colin Storm, Agent, Falls Church, VA
Wed Jul 22, 2009
From June to June prices have fallen 10.15% in 22207. Arlington as a whole fell only 1.9% versus 7.42% for all of Northern Virginia. Average sales price in Arlington overall is well below 2005 levels, but remain comfortably above 2004 average prices.
0 votes
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