Here are some of the major takeaways from the article:
- In May, the average home price in Arlington County — the future home of Amazon’s second headquarters known as HQ2 — was $713,000, up about 7 percent from a year ago. And in April, the average price hit $742,000, or more than 11 percent above the same month in 2018.
- The spikes are not limited to Arlington, which this year saw average home prices reach above $700,000 for the first time. In nearby Fairfax County, the average sales price saw a year-over-year gain of 6 percent in May, while the increase was about 7 percent in Alexandria for the same period.
- For the past two months, the number of homes sold in NVAR’s coverage area — which includes Arlington County, Fairfax County, Fairfax, Falls Church, Alexandria and Vienna — have held at a 14-year high. The average home lasted just 27 days on the market, down 42 percent from a year ago.