The View from South of the Potomac River: AJ Heidmann ~ CRS, YOUR Alexandria & Arlington, VA Real Estate Expert (McEnearney Associates, Inc.)

Palazzo at Park Center in Alexandria, VA ~ 2013 Market Review

Palazzo at Park Center

2013 Market Review

Alexandria, VA 22311

The Palazzo at Park Center in Alexandria, VA had very good 2013, as reflected in the sales numbers for the community.  Average prices were up year over year for all models with the exception of the Milan model, which declined 1% versus 2012 (which was due to one of the two units sold being in poor condition).  The stand out for the year was the Venice model, 2 bedroom / 1 bath unit, which say the average says price increase by 13% against last years number.  In addition, seller subsidies declined across the board in 2013.

Inventory has moved a bit higher in the past 3 months for the greater Shirlington area, but the absorption rate for current sales, still leaves less than a 2 month supply on the market as a whole.

Palazzo at Park Center 2013 Market Review

In the Palazzo, at present there is just one unit listed in Active status in the local MLS; a 1 bedroom / 1 bath Florence model in building #2.  Even with the new year, contract activity across the area is still fairly brisk, as buyers look to get a home under contract before interest rates move any higher.  This means that now is very good time to go onto the market, while there is little competition, and many sellers wait until Spring to list their unit.

The Palazzo at Park Center is one of the newest garden style condominiums in the greater Shirlington area, but what makes it stand out are two valuable amenities that are seldom seen in the area;  underground garage parking and elevator service to every floor.  You have to understand... Alexandria City and neighboring Arlington County are old.  There just isn't a lot of open land for new construction of housing.  Most condo associations in the area were built from the 1940's to the 1980's, which usually means walk up units with uncovered surface parking lots.  If either of these two amenities are must haves, then the Palazzo at Park Center needs to be on your "To See" list.

Having been an owner in the Palazzo since 2010, I understand what a great value it presents to buyers, and have been the #1 listing agent for the community over the past two years.  If you are considering the sale or lease of your Palazzo unit, please give me a call to find out the latest information on the community and then we can map out a strategy to reach your goal.

 

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 3 commentsAJ Heidmann ~ CRS • January 06 2014 02:55PM
Palazzo at Park Center in Alexandria, VA ~ 2013 Market Review
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Palazzo at Park Center 2013 Market Review Alexandria, VA 22311 The Palazzo at Park Center in Alexandria, VA had very good 2013, as reflected in the sales numbers for the community. Average prices were up year over year for all… more
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Showing Homes on New Year's Day Yesterday was a great day for me, starting out the year showing homes for sale. With sunny skies and a bit of nip in the air, I set out with some long time friends and new clients that have outgrown their… more
Palazzo at Park Center in Alexandria, VA ~ Another unit SOLD! #4413
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UNIT #4413 ~ SOLD! Another unit SOLD in the Palazzo at Park Center and Christmas came a couple of days early for the previous owners with a completed settlement. This fantastic top floor, 2bed/2bathroom Naples model with 962 square… more
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The first measurable snow of the year fell in Alexandria, VA today… with about an inch combined snow and sleet turning everything slick & slippery. What to do on a day like today… build a snowman of course! .. more
Palazzo at Park Center in Alexandria, VA ~ Unit #4413 Under Contract
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UNDER CONTRACT Palazzo at Park Center, Alexandria, VA This fantastic top floor, 2bed/2bathroom Naples model with 962 square feet is now under contract in the Palazzo at Park Center in Alexandria, VA. It features hardwood… more
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Palazzo at Park Center in Alexandria, VA ~ Aother SOLD unit! #2305
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Another SOLD Unit in the Palazzo at Park Center The sales journey for another unit owner in the Palazzo at Park Center in Alexandria, VA has come to a successful ending. This Venice model, which is supremely located within the… more
Palazzo at Park Center in Alexandria, VA ~ OPEN HOUSE 11/14 1-4PM
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OPEN HOUSE ~ SUNDAY 11/17 from 1-4PM Open house this Sunday in the Palazzo at Park Center! Please come see this top floor, 2bedroom / 2bath Naples model for yourself. The unit features include hardwood floors throughout… more
Palazzo at Park Center Alexandria, in VA~JUST LISTED~2 Bed/2 Bath Unit
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JUST LISTED ~ $310, 000 Palazzo at Park Center, Alexandria, VA OPEN SUNDAY NOVEMBER 10th 1-4 PM A fantastic top floor, 2bed/2bathroom Naples model with 962 square feet is now on the market in the Palazzo at Park Center in… more
Palazzo at Park Center in Alexandria, VA ~ UNDER CONTRACT
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UNDER CONTRACT in the Palazzo at Park Center This fantastic corner, Venice model that overlooks the pond & mature green space in the Palazzo at Park Center is now under contract and moving to settlement! Due to the enviable… more