Arlington County has the lowest unemployment rate in DC Metro Area

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Real Estate Agent with Century 21 Redwood Realty, Arlington Virginia

It should come as no surprise, but Arlington County Virginia boasts the lowest unemployment rate in the DC Metropolitan area.   Our current unemployment rate is 3.6% - down from 3.8% from December 2010 and down from 4.3 from 2009.   We have an incredibly strong real estate market as well. See the full Bureau of Labor Statistics report here.    Our median price for January 2012 over January 2011 is up a whopping 15% from $438,000 to $513,000. That is a remarkable jump for a slow time of year.

If you are thinking of making a move to Arlington County Virginia and want a local expert opinion on the real estate market give me a call for a consultation to discuss your options.   Our real estate market is not like the national news - we currently have an inventory shortage and a very strong seller's market.   Likewise if you are thinking of selling, believe me, now IS a good time if you have either owned your home for a while or paid down your mortgage.  I just had a buyer win out in a multiple offer situation on a home in North Arlington this weekend - it sold for significantly over asking price.   Homes are selling fast for at or over asking price if priced and staged correctly.  I can advise you through this complicated marketplace as either a buyer or seller.

Bureau of Labor Statistics

 

 

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Rainmaker
1,232,333
Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

Unemployment rates are a fuzzy statistic.  It depends on whether they report U6 or U3.  Measured as they do now, the unemployment rate under Bush would have been 2.1%.  It would be interesting to know which figure they are using for this chart.

Feb 14, 2012 06:25 PM #1
Rainmaker
260,089
Coral Gundlach
Century 21 Redwood Realty, Arlington Virginia - Arlington, VA

Thanks Jay, I just put in a link to the full report at the BLS.  

Feb 15, 2012 06:39 AM #2
Rainmaker
1,232,333
Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

Yeah, it's the "new" way of calculating it.  The real numbers are much higher.  For instance, they consider 15 hours a week to be "employed."  That's new!  And that's news!

That's why you hear on the "news" it mentioned that the "real unemployment rate" is such and such.  They know, but they don't report.

Feb 15, 2012 07:25 AM #3
Rainmaker
260,089
Coral Gundlach
Century 21 Redwood Realty, Arlington Virginia - Arlington, VA

Maybe so, but they are going down across the board, and that is a good thing!

Feb 15, 2012 11:06 AM #4
Rainmaker
1,232,333
Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

This area is somewhat insulated from the big swings as there is so much gubment employment. 

But black unemployment here and nationwide is huge.  The same with teenagers here and nationwide.  Those are problems that gubment jobs can't help so much.

Feb 15, 2012 06:09 PM #5
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Rainmaker
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Coral Gundlach

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