The median price for homes in Arlington increased 6.3% to $242,000 in 2020, the Arlington Board of Realtors said Monday, citing data from the Real Estate Center at Texas A&M University.
“That increase remains in line with the 6.4% increase for all homes in the Dallas-Fort Worth-Arlington Metroplex throughout 2020,” the Board of Realtors said.
Sales of homes in Arlington were down 1.4%, the Board of Realtors said. Arlington’s monthly housing inventory was down to 0.7 months, compared to 1.5 months in 2019, the Board said.
“The Real Estate Center cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced,” the Board said.
“The lesson learned from the housing market in 2020 is buying a home is always a good financial move,” Taylor Oldroyd, president and CEO of the Board, said.
“Much can be said about the disruptive challenges of 2020, but homebuyers fared well and will continue to do so, as investors and buyers take advantage of low rates, and the fact that real estate purchases are vital to wealth creation and financial freedom.”
Nearly 53% of all Arlington homes sold in 2020 were priced between $200,000 and $299,999, the Board said. Homes spent an average of 31 days on the market and 33 days to close, one day less than 2019. In addition, active listings decreased 25.2 percent to 506 listings in 2020.
- 2020 Arlington Statistics At-A-Glance, compared to 2019
- 4,409: Homes sold, down 1.4%
- $242,000: Median price, up 6.3%
- 0.7: Monthly housing inventory, down from 1.5 months
- 31: Average number of days on market
- 33: Average number of days to close
Locally, median prices were up for Dallas-Fort Worth-Arlington MSA (6.4% to $291,000), Tarrant County (6.2% to $257,000), Johnson County (9.4% to $240,730) and Mansfield (11.4% to $331,993). The statewide median housing price climbed 7.9% to $259,000.