The View from South of the Potomac River: The Shirlington Report ~ June 2010

The Shirlington Report ~ June 2010

The Shirlington Report

~ JUNE 2010 ~ 

After a break from blogging and moving to our new brokerage firm, McEnearney Associates, Inc. in Arlington, it's time to catch up on the goings-on in the Shirlington condo market.  By weeks end, I have you back up to speed on the sales and rental markets in this fabulous area to live, just outside of DC in Northern Virginia and just down I-395 from the Pentagon.

It was an extremely busy month for settlements of Shirlington real estate with 40 units reaching the settlement table under the extended Home Buyer Tax Credit.  The end of June was the original settlement deadline for the credit, so those individuals that could close did as shown by the lack of fully under contract units in the graph below.  The extension of the settlement date, but NOT the contract date, allowed buyers that encountered slow service from their lenders or that are waiting on 3rd party approval for a short sale to hopefully joined the settled group in the coming months.  Those units still active on the market have on average 148 days on the market, so they were picked and passed over for better priced/located/prepared listings.  As we move forward it will be interesting to see if the list prices will move down to attract a contract. 

Graph of Shirlington Real Estate market, 6/10

 

 

 

 

 

 

 

 

 

 

 

Sales were skewed towards the upper end of the price range for Shirlington with 60% of sold units occurring above $350K, while most of the inventory still available is priced under the $350K.

Graph of sold property in Shirlington, VA, June 2010

 

* Information taken from the MRIS system deemed reliable, but not guaranteed.

** For the purposes of this report, the Shirlington area includes the following condominium associations: Courtbridge I & II, Heatherlea, ParkFairfax, Shirlington Village, The Arlington, Windgates I, II & III, and all Fairlington communities.

 

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 5 commentsAJ Heidmann ~ CRS • October 05 2010 02:24PM

Comments

HOLY COW that is a lot of closings compared to active listings in Shirlington!

Posted by Renée Donohue~Home Photography, Western Michigan Real Estate Photographer (Savvy Home Pix) over 9 years ago

Renee,

Granted this is back in June with closings coming from the tax credit surge, but we did clean out a lot of inventory that month.  Since then, the total inventory of active listings has grown to above normal, with the limited number of buyers willing to pull the trigger, they are selecting units done to death or rock bottom bargains. 

To be fair, the close-in Northern Virginia market is probably in the top 5-10 markets nationally, due to the military and federal government presence, and people are always coming & going.

Posted by AJ Heidmann ~ CRS, YOUR Alexandria & Arlington, VA Real Estate Expert (McEnearney Associates, Inc.) over 9 years ago

Just stopped by to say that I

Happy Fourth of July!

Posted by Not a real person over 8 years ago

I was going to say "Congratulations on the new digs" but I see that this post is over a year old, now. Hope everything is okay.

Posted by EC, JF, Double R and Zoey the Cool Cat (Russel Ray Photos) over 8 years ago

Dear Santa:

I know you have a lot on your mind today, but when you finish delivering all those goodies, stop back by AJ & Jodee's place and they will help you find that summer home you and the Mrs. have been wanting.

Merry Christmas!

Eric

Merry Christmas!

Posted by EC, JF, Double R and Zoey the Cool Cat (Russel Ray Photos) about 8 years ago

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