top of page

Arlington, VA Market Update: February 2024 Spring Real Estate Trends

As the spring market blossoms in Arlington, VA, the real estate landscape is abuzz with activity and opportunities. Blake Davenport of The Davenport Group at RLAH Real Estate presents an in-depth market update for February 2024, offering a comprehensive overview of the current trends and what they mean for both buyers and sellers in Arlington.

Spring Market Awakening: Arlington's Real Estate Overview

In Arlington, VA, the spring market has sprung to life with 198 homes currently listed for sale and 124 transactions concluded in the last 30 days. This activity has resulted in a 1.6-month supply of homes, indicating a slight tightening from the previous month's 1.8-month supply. This period, traditionally spanning from January through May, is recognized as the peak season in Arlington's real estate calendar, marked by an influx of listings, increased buyer competition, and notable price appreciations.

Fast-Paced Transactions: A Sign of the Times

A clear indicator of the spring market's vibrancy is the swift pace at which homes are selling. Post-New Year listings are seeing a median of just five days on the market before going under contract, often at prices above the listing, spurred by multiple offer scenarios. This underscores the importance of strategic marketing, pricing, and presentation in today's competitive environment.

Anticipated Price Movements

Historical data reveals a consistent pattern of price growth from fall to spring, with Arlington experiencing a 2.3% rise from the fall of 2022 to the spring of 2023. This upward trajectory is expected to continue, promising a fruitful season for those invested in the Arlington housing market.

Guidance for Sellers and Buyers

For homeowners considering selling, the current market presents an opportune moment to achieve favorable terms. The Davenport Group's upcoming Home Selling Workshop on February 29, 2024, aims to equip sellers with the knowledge and strategies necessary for a successful and stress-free sale.

Buyers, on the other hand, are facing a highly competitive market. Despite this, the ongoing price escalation makes the spring market an opportune time to buy. The Home Buying Workshop scheduled for March 6, 2024, will provide prospective buyers with the tactics and insights needed to navigate the competition and secure their ideal home.

Leverage Expertise in Arlington's Spring Market

Navigating Arlington, VA's spring real estate market requires expert advice and a deep understanding of the local dynamics. Whether you're selling your home or embarking on the journey to homeownership, The Davenport Group is here to provide unmatched expertise and support.

To learn more about the Arlington, VA real estate market or to register for our informative workshops, click the links below:

Embrace the opportunities of Arlington's spring market with The Davenport Group and navigate your real estate journey with confidence.


bottom of page