The books have been closed on real estate sales in The Arlington for 2012. For the year, a total of 37 units reached the settlement table, which is well above the rolling 5 year average of 30 units and just 1 shy of the 2010 high water mark of 38 units for that same period.
Of particular note is the number of upper level units, B & M models, which accounted for 75% of all sales, and the M models accounted for 48% of sales by themselves. These percentages represent the high mark over the past 5 years, with M units in 2008 having a slightly lower percentage of sales. The M unit is the largest unit in the association in a 2Bed/1Bath configuration over two levels, so it lives very much like a town home and consistently carries a higher average sales price over the other configurations.
The Arlington Year End Report for 2012
Model # Sold Sales Range Ave. Price Ave. Subsidy
A Lower 5 $251,000-$317,000 $283,780 $5,994
B Upper 10 $249,900-$300,000 $283,920 $2,120
C Lower 3 $235,000-$307,000 $271,500 $4,167
L Lower 1 $299,000 $299,000 $0
M Upper 18 $249,900-$300,000 $295,544 $3,255
The Arlington was originally built as an apartment complex in 1950 and then converted into condominiums in 1980. At the conversion, decks and patios were added as options for individual unit owners to buy and the common basement laundry rooms were divided to create a lower level for the L units, which normally have 3 bedrooms and 2 bathrooms.
Location wise, The Arlington is located within a mile of Shirlington; with all of it’s restaurants, shops, theatre, and movies and is just off of I-395 at the King St/Route 7 exit. This puts it within a few miles of the Pentagon and Washington, DC, via I-395 and multiple bus lines to the Pentagon Metro. This close-in location has become more desirable as the amount of traffic builds on roads through out Northern Virginia and allows for a high quality of life with a minimal commute.
As a proud former resident of The Arlington, it is a great community to call home and my family still maintains the friendships that were created there. If now is the time for you to sell your unit in The Arlington or you are considering it for your next home purchase, please feel free to contact me today.