They each saw year-over-year declines, but Arlington’s was smaller and, as a result, the county posted the largest average per-square-foot price for real estate across Northern Virginia in August, while Fairfax County posted an increase for the month.
At an average of $456 per square foot, Arlington was down 3.4 percent from $472 a year before, but Falls Church (which had seen a per-square-foot cost of $530 in August 2017) was down 18.3 percent to $433 and second place in the new ranking.
Figures were reported Sept. 11 by RealEstate Business Intelligence, based on data from Bright MLS.
Alexandria, which placed third in Northern Virginia at $374, was down $22 per square foot, or 5.6 percent, for the month. But most other local jurisdictions saw increases: Fairfax County rose 2.9 percent to $318; Loudoun County was up 5.1 percent to $227; Prince William County was up 6.4 percent to $216; and Stafford County was up 2.9 percent to $177.
The District of Columbia led all jurisdictions across the region; its per-square-foot cost of $548 was up 6.4 percent from a year before.
In Maryland, Montgomery County saw an increase of 2.1 percent to $293, while Prince George’s County was up 3.8 percent to $190.
For the first eight months of the year, Arlington led Northern Virginia jurisdictions with a per-square-foot cost of $469, followed by Falls Church ($436), Alexandria ($388) and Fairfax County ($318).
Figures represent most, but not all, homes on the market. All figures are preliminary and are subject to revision.