The average price of a detached, single-family house that sold in Arlington County, Virginia, in December was $1,258,648. That is 17% more than the average price a year earlier, according to the .
Those lofty prices are not deterring buyers looking in Arlington County. The average price of all homes that sold in the county last month, including townhouses and condos, was $810,542, up 12.8% from a year earlier.
For all of 2021, the number of homes sold in Arlington County and the total dollar sales volume both increased by 27%, compared to 2020.
鈥淭he lack of inventory definitely played a huge role in this, leaving many sellers with the ability to choose from a number of offers with multiple buyers waiting to see their home as soon as it hit the market,鈥� said NVAR President Reggie Copeland.
鈥淚 met some buyers to view a home that went on the market with a short window for viewings. Fifteen minutes prior to the open house starting, there was a line at the door. At the peak, there were a total of 50 people standing outside to view the home,鈥� Copeland said.
Last year was a strong one for the Northern Virginia suburbs as a whole, with the average sold price throughout the region climbing 6.5% to $724,208. Larger, single-family homes saw the biggest price gains, up an average 12% for 2021, according to NVAR.
NVAR鈥檚 footprint covers real estate professionals in Fairfax and Arlington Counties; the cities of Alexandria, Fairfax and Falls Church, and the towns of Vienna, Herndon and Clifton.
Closed sales in the NVAR鈥檚 covered markets totaled almost 27,000 last year, a 17% increase and the highest number of homes sold since 2005, based on data from listing service . Total sales volume rose 23% to almost $19 billion.
Below is a chart of year-over-year December sales activity, courtesy of the Northern Virginia Association of Realtors:
