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 available for sale. Of those two available properties, one is a ground floor short sale, while the other is the larger 3 bed/2 bath L Model. In an average year, roughly 35 units will go to settlement.
This sudden burst within The Arlington is a big contrast with the entire 4th quarter of 2011 when there were only 6 settlements. However, it appears that the community was simply playing catch up with the rest of Northern Virginia properties priced under $330K. At the end of December, the available inventory at this price point stood at just 1.5 months, which would signify a sellers market. Now I don’t think that market has swung that far that fast, but it does show that there is a demand for properly priced for condition homes. The trick is pricing your home right and getting the proper exposure.
The Arlington is a garden style condominium development of 518 units that were originally built as apartments and then converted into condos in 1980. Spread over 24 acres, the community boasts 2 outdoor pools, 2 tennis courts, well over 500 trees (yes, they count and log all the major trees in the community), ample green spaces, unassigned surface parking in 17 parking lots and street parking on Wakefield Rd and S. 28th St. The close-in location is a community within the Shirlington real estate market and is conveniently located well within the Capital Beltway (I-495) and close to the Pentagon and Washington, DC.
If you are thinking of putting your unit in The Arlington, or elsewhere in Shirlington on the market this Spring, give me a call for a confidential consultation on your unit to see if it is ready for the current market conditions.