About the Arlington Virginia Real Estate Market
What to Expect
Arlington VA is one of the most popular places to live in the United States. Let's take a look at the Arlington VA real estate market right now and what to expect in 2022.
The Arlington VA Real Estate Market Snapshot 2022
The average price for a home in Arlington VA is expected to reach $675,000 by 2023. This is due to several factors such as job growth, low-interest rates, and an influx of new residents.
Zillow is predicting that the Arlington VA real estate market will be a "hot" market in 2022. This means that there will be more buyers than sellers and homes will sell quickly.
If you are thinking of buying or selling a home in Arlington VA, it is important to consult with a real estate agent to get the most up-to-date information. Arlington VA is a competitive real estate market, and you want to make sure you are prepared.
Arlington's current home sales for May 2022 are down -17.0% from last year while the Arlington median home value is up +11.0%. Comparing Arlington's current home sales to other areas in Northern Virginia, it is still doing better than most with a decrease of only -17.0%.
Some experts are attributing Arlington's drop in home sales to the fact that many Arlington buyers are now looking for homes in Loudoun and Prince William counties where they can get more space for their money.
Factors affecting supply and demand
These key factors are affecting the demand and supply of homes currently in Arlington. Mortgages rates have increased, rising home prices, record-high inflation, and increasing population.
Mortgages rates have increased again: With inflation still posing a threat to the economy, mortgage rates have risen once again this week. The average rate on 30-year mortgages climbed to 5.36 percent, up from 5.27 percent last week.
Rising home prices: Home prices in Arlington have increased by 11 percent since last year and are predicted to rise even more in the future. Experts expect home prices to continue rising in 2022 but at a slower rate than in the past 18 months. The prices for homes will increase at a slower pace due to higher mortgage interest rates.
Record-high inflation: Inflation rates are at a record high, which is discouraging some Arlington buyers. The current inflation rate for the United States is 8.6% for the 12 months ended May 2022, the largest annual increase since December 1981 and after rising 8.3% previously, according to U.S. Labor Department data published June 10. Many homebuyers not just in Arlington are finding it challenging to afford a home.
Increasing population: Arlington's population is growing rapidly, and this is one of the key factors that is driving up demand for homes. The U.S. Census Bureau estimates Arlington's population will reach 241,000 by 2030, an increase of 31 percent from 2010. This growth is due to Arlington's proximity to Washington, D.C., and the many job opportunities in the area.
Are you looking to buy or sell a home in the Arlington, VA area? Contact Winkelmann Properties today! (703) 850-5223.
The Pros and Cons of Living in Arlington, Virginia
If you're considering a move to Northern Virginia, Arlington is likely at the top of your list. And for good reason - it's close to D.C., has great public schools, and is full of young professionals.
But like any city, it has its pros and cons.
Table of Contents:
Location and Size
Arlington, Virginia is a mid-sized city located in the Washington, DC. Metropolitan area. It is the smallest self-governing county in the United States by land area.
The city is home to a number of historical landmarks and is a popular destination for tourists. Arlington is also a major center for the arts and culture.
The city has a diverse economy and is home to a number of Fortune 500 companies. The cost of living in Arlington is high, but the city offers a number of amenities that make it an attractive place to live.
Arlington's Demographics
Arlington is a culturally diverse community located just minutes from Washington, DC.
With a population of over 230,000, Arlington is the seventh-largest city in Virginia. The city is home to a variety of businesses, including many government agencies and contractors.
Arlington is also home to a number of colleges and universities, including George Mason University, Marymount University, and Virginia Tech. The median household income in Arlington is $85,576, and the median home value is $619,100.
The cost of living in Arlington is high, but this is offset by the city's many amenities and its proximity to Washington, D.C. Arlington is a safe and family-friendly community with a variety of housing options.
Arlington is a great place to live for anyone who wants to be close to the action of Washington, DC.
Without living in the city itself. The city is home to a number of businesses and government agencies, as well as a variety of colleges and universities.
Arlington is also a safe and family-friendly community with a variety of housing options.
Key Takeaway: Arlington is a great place to live for anyone who wants to be close to Washington, D.C. without living in the city itself. The city is safe, family-friendly, and has a variety of housing options.
The Cost of Living in Arlington
When it comes to the cost of living, Arlington is not the cheapest place to live in Virginia. In fact, it's one of the most expensive places to live in the state.
The median home price in Arlington is over $700,000, and the median rent is over $2,000. That being said, there are still many people who choose to live in Arlington because of the many benefits the city has to offer.
Arlington is a great place to live if you're looking for a job. The city has a low unemployment rate, and the average salary is higher than the national average.
There are also many great schools in Arlington, which is why it's a popular choice for families. If you're looking for a place to retire, Arlington is a great choice.
The cost of living is high, but the city has a lot to offer retirees. There are many golf courses, parks, and other amenities that make Arlington a great place to live.
Overall, Arlington is a great place to live. It's not the cheapest place to live in Virginia, but it has a lot to offer.
If you're looking for a job, a great school system, or a place to retire, Arlington is a great choice.
Key Takeaway: Arlington is a great place to live if you're looking for a job, a great school system, or a place to retire.
Things to Do in Arlington
Arlington is a beautiful and historic city located in Northern Virginia. It is home to many national landmarks and is just a short drive from Washington, DC.
There are plenty of things to do in Arlington, whether you're looking for culture, history, or just want to enjoy the great outdoors.
One of the most popular attractions in Arlington is the Arlington National Cemetery. This national cemetery is the final resting place for over 400,000 American service members and their families.
Visitors can take a tour of the cemetery, visit the Tomb of the Unknown Soldier, or attend a memorial service. The Pentagon is another popular Arlington attraction.
This iconic building is the headquarters of the United States Department of Defense. Visitors can take a tour of the Pentagon, or even visit the 911 Memorial.
If you're looking for a more cultural experience, Arlington is home to many museums and art galleries. The Museum of Contemporary Art Arlington is a great place to start, and the National Gallery of Art is just a short drive away.
There are also many historical landmarks in Arlington, such as the Arlington House and the Iwo Jima Memorial. No matter what you're looking for, Arlington has something to offer everyone.
From historical landmarks to great museums, there's something for everyone in this vibrant city.
Key Takeaway: Arlington is a beautiful and historic city with plenty of things to do.
Education in Arlington
If you're looking for a place to get a great education, Arlington, Virginia is the place for you. The public school system is excellent, and there are also many private schools to choose from.
The cost of living is high in Arlington, but you'll find that the quality of life is worth the price. Housing prices are some of the highest in the nation, but you'll be able to find a comfortable place to live if you're willing to pay a little extra.
High schools
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Washington-Liberty High School (formerly Washington-Lee High School)
Alternative programs
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Arlington Community High School - a fully accredited alternative high school for students whose life circumstances have interrupted their schooling; formerly known as Arlington Mill High School
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Arlington Tech – a high school program with project-based learning
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H-B Woodlawn - an alternative secondary program where students control much of their education and do not have “continuous adult supervision.”
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Langston High School Continuation Program - offers students flexibility in the way and timeframe in which students can earn a high school diploma.
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New Directions - a program designed for 30-35 students with behavioral difficulties that provides support for responsible decision making and on-time graduation
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Eunice Kennedy Shriver Program (formerly the Stratford Program) - a secondary school for Arlington Public School students who have special needs.
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Thomas Jefferson High School for Science and Technology (TJHSST)
Conclusion
Overall, Arlington is a great place to live. It's close to D.C., has plenty of things to do, and is full of young professionals.
However, it can be expensive and crowded. If you're considering a move to Arlington, weigh the pros and cons carefully to see if it's the right fit for you.
If you're looking for a great place to raise a family, Arlington is the perfect choice! With top-rated schools and plenty of amenities, it's no wonder why so many people are moving here. Winklemann Properties can help you find the perfect home in this sought-after area – contact us today to get started!