The Arlington Condo 2013 Market Review
The real estate for 2013 in The Arlington Condominium in Arlington, VA is best described as... Hot, Hot, Hot! A total of 49 units went to settlement last year, which is well above the trailing 5 year average of 35 units per year. While the upper level M model had the most sales again this year, the percentage was down from last year when basically half of all units sold in the community were the 875 square foot M units.
Prices were higher in 2013, with only a couple of short sales within the community, but something curious did happen. Normally, the upper level B & M models have had a higher sales price, but in 2013 both of the ground floor A & C models had a higher average sales price than the one level B model. A few nicely renovated ground floor units earlier in the year that helped to provide a pricing floor for these units and brought up the average.
The Spring market started earlier than normal last year, with 7 units going under contract in the month of February alone. Sales momentum stayed strong through the normally slower summer months and then finished up the year with a flourish in December with 6 settlements that month. At present there are just 2 units fully available in the complex; a 2bed/1bath C model and 3bed/2bath L model, both of which are located on Walter Reed Dr.
With buyers still out looking for a home to purchase before interest rates rise any further and a very low amount of inventory, this is a very good opportunity for you to sell your unit if you are ready. As a former resident of The Arlington with 17 settled transactions in the association, I am intimately familiar with all the wonderful aspects that make it a desirable place to live. The close proximity to Shirlington, I-395~Pentagon~DC, Clarendon, and Old Town Alexandria all contribute to the high quality of life that owners enjoy.
Please call me today to get the latest information on the community and let's start the process to help you reach your goals in 2014.