The View from South of the Potomac River

Trends in Real Estate for Shirlington, VA

The Shirlington real estate market has been plugging along, steady eddy style for the past 4 years, with the number of units sold has staying within a narrow 5% range.  This is a contrast to the 2006-2007 years that marked the end of the market bubble in condominiums in our area. 

 Shirlington real estate maket sales trends

However, it is incredibly important to point out that 2011 was the first full year without any home buyer tax credit in a while, yet the Shirlington real estate market maintained sales on par with those years that were “goosed” by the credit.  

 

As we begin 2012, the main refrain for this market, and greater Northern Virginia real estate market, is “Where is the Inventory?”.  Based on the contract activity so far since the new year began, which has been hitting ball out of the park, the primary constraint in the market is the lack of inventory.  Open houses are seeing large crowds, nicely updated units are under contract within days or a few of weeks, and even those units that withered on the vine for whatever reason last year are getting offers.

 

For 2012, the local trend should be for a stable to moderate increase in prices, updated units garnering a premium, and buyers making a quality of life decision by purchasing in the closer-in locations and leaving the huge daily commute behind.  Even with small increases in mortgage rates, the Shirlington area offers such a rich living experience, on top of what metro Washington DC offers, that it will continue to be a neighborhood of choice in the future.

 

The Shirlington area is surrounded mainly by condominium developments, with some fee simple town home/row homes & apartment buildings, and has a main street section with:  restaurants, movie theatre, award winning live theatre at the Signature, County library, and boutiques.  Shirlington Village, which is the proper name, also hosts community activities from the Christmas Tree lighting to Octoberfest to a pet adoption festival, so that on any given weekend the streets and outdoor restaurant seating in filled with local residents.  Since it is not on a Metrorail line (but next to I-395 to get to the Pentagon & Washington DC), housing prices are lower per square foot than condos near the Orange line in North Arlington or the Yellow/Blue line to the East in Alexandria City.  For all these reasons, it is a preferred destination and location to buy a condo by first time home buyers, military/relocation, and empty nesters looking to downsize into a vibrant community setting.

If you are ready to make a move, please contact me today so that we can start the process of getting you to SOLD!

 

AJ Heidmann ~ CRS,  ABR

Cell 703-474-1260 ~ Office 703-717-6324 ~ Fax 703-839-8283

AJ@AJHeidmann.com

www.AJHeidmann.com

McEnearney Associates, Inc.

4720 Lee Highway, Arlington, VA  22207

Licensed in Virginia

Comment balloon 9 commentsAJ Heidmann ~ CRS • March 02 2012 04:39PM
Trends in Real Estate for Shirlington, VA
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The Shirlington real estate market has been plugging along, steady eddy style for the past 4 years, with the number of units sold has staying within a narrow 5% range. This is a contrast to the 2006-2007 years that marked the end of the market… more
It’s all about Inventory… or Actually the Lack Thereof
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Here in the close-in Northern Virginia market, (which is composed of Fairfax & Arlington Counties and Alexandria, Fairfax & Falls Church Cities), the lack of quality inventory is THE story now. This is particularly true in the.. more
Shirlington Real Estate Report ~ January 2012
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~ January 2012 ~ The Shirlington real estate may have limped in with just 9 condos going to settlement in January, which was below the 13 units that sold in January 2011, though it is historically a slow month following the holidays. What… more
Thoughtful Thursday
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I had previously written about an EMT of the Alexandria Fire Department that died last week in the line of duty, Tribute to Fallen EMT at Fire Station 206 in Alexandria His memorial service starts in about 15 minutes and a huge turnout is… more
Traffic Alert ~ Funeral Service for Joshua Weissman EMT ~ Seminary…
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Tomorrow the City of Alexandria and family, as well as firefighters from around the country, will says good bye to Joshua Weissman. Joshua is the EMT that perished in the line of duty last week Tribute to Fallen EMT at Fire Station 206 in… more
Tribute to Fallen EMT at Fire Station 206 in Alexandria
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This is the scene at Fire Station 206 at the intersection of Seminary Road & N Pickett St in the City of Alexandria, which is located just around the corner from our home. The ambulance draped in black, along with flowers… more
Thanks for Holding Open Houses on Sunday ~ They Are Effective!
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There have been quite a few posts in the couple of weeks regarding the efficacy of doing an open house, if you do one at all, that really brought a lot of comments. I'll get to that later, but most of all I want to say THANK YOU to the several… more
Palazzo at Park Center 2011 Market Report
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We have closed the books on the sales for 2011 in the Palazzo at Park Center with 18 units reaching settlement. These units were spread among three of the four available layouts in the building, with just the larget unit, the Verona not… more
January Market Report for The Arlington
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January came in like a Lion! Let’s just hope that the Spring market for the Shirlington real estate market doesn’t go out like a lamb. For the month of January, 6 units went under contract in The Arlington, leaving just 2 properties fully… more
Are Your Resolutions on the Fence ~ Time to Take the Plunge!
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Being 22 days into the New Year, with a layer of ice coating lawns across Arlington County, the opportunity to work on that resolution to get/stay in shape may seem a bit far fetched. Swimming is a great way to get your physical activity in, but… more