The View from South of the Potomac River: Trends in Real Estate for Shirlington, VA

Trends in Real Estate for Shirlington, VA

The Shirlington real estate market has been plugging along, steady eddy style for the past 4 years, with the number of units sold has staying within a narrow 5% range.  This is a contrast to the 2006-2007 years that marked the end of the market bubble in condominiums in our area. 

 Shirlington real estate maket sales trends

However, it is incredibly important to point out that 2011 was the first full year without any home buyer tax credit in a while, yet the Shirlington real estate market maintained sales on par with those years that were “goosed” by the credit.  

 

As we begin 2012, the main refrain for this market, and greater Northern Virginia real estate market, is “Where is the Inventory?”.  Based on the contract activity so far since the new year began, which has been hitting ball out of the park, the primary constraint in the market is the lack of inventory.  Open houses are seeing large crowds, nicely updated units are under contract within days or a few of weeks, and even those units that withered on the vine for whatever reason last year are getting offers.

 

For 2012, the local trend should be for a stable to moderate increase in prices, updated units garnering a premium, and buyers making a quality of life decision by purchasing in the closer-in locations and leaving the huge daily commute behind.  Even with small increases in mortgage rates, the Shirlington area offers such a rich living experience, on top of what metro Washington DC offers, that it will continue to be a neighborhood of choice in the future.

 

The Shirlington area is surrounded mainly by condominium developments, with some fee simple town home/row homes & apartment buildings, and has a main street section with:  restaurants, movie theatre, award winning live theatre at the Signature, County library, and boutiques.  Shirlington Village, which is the proper name, also hosts community activities from the Christmas Tree lighting to Octoberfest to a pet adoption festival, so that on any given weekend the streets and outdoor restaurant seating in filled with local residents.  Since it is not on a Metrorail line (but next to I-395 to get to the Pentagon & Washington DC), housing prices are lower per square foot than condos near the Orange line in North Arlington or the Yellow/Blue line to the East in Alexandria City.  For all these reasons, it is a preferred destination and location to buy a condo by first time home buyers, military/relocation, and empty nesters looking to downsize into a vibrant community setting.

If you are ready to make a move, please contact me today so that we can start the process of getting you to SOLD!

 

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 9 commentsAJ Heidmann ~ CRS • March 02 2012 04:39PM

Comments

Considering a purchase or sale of a home in the Shirlington VA area?  Contact Realtor® AJ Heidmann and put AJ's real estate knowledge to work for you today!

Posted by John McCormack, CRS, Honesty, Integrity, Results, Experienced. HIRE Me! (Albuquerque Homes Realty) almost 8 years ago

John - Thanks for the recommendation and stopping by!

Posted by AJ Heidmann ~ CRS, YOUR Alexandria & Arlington, VA Real Estate Expert (McEnearney Associates, Inc.) almost 8 years ago

Nice market report for Shirlington AJ, good to see your market fairly stable in recent years.

Posted by Al Raymondi, Ormond By The Sea Florida - Home and Condo Sales (Ocean View Realty Group in Ormond By The Sea Florida) almost 8 years ago

AJ - Our area saw an increase in sales due to the tax credit as well, the median price also increased in 2010.

Posted by Michelle Gibson, REALTOR (Hansen Real Estate Group Inc. ) almost 8 years ago

Al - Thanks for the compliment and local sellers are enjoying the stabilizing activity.

Michelle - We are working our way through the tax credit "goose" rather nicely... here's hoping that this early Spring market action continues.

Posted by AJ Heidmann ~ CRS, YOUR Alexandria & Arlington, VA Real Estate Expert (McEnearney Associates, Inc.) almost 8 years ago

AJ, Shirlington market activitiy sure looks like it is well on the road to recovery.  We are VERY busy here in Huntsville, but still have a fair amount of inventory.  Hope this trend of buyers getting off the fence continues.

Posted by Nick T Pappas, Madison & Huntsville Alabama Real Estate Resource (Assoc. Broker/Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, @HomesBirmingham & Providence Property Mgmnt, LLC Huntsville AL) almost 8 years ago

Nick - Here is hoping that we can get some additional inventory here and that you are able to work off some of the same down in your market.

Posted by AJ Heidmann ~ CRS, YOUR Alexandria & Arlington, VA Real Estate Expert (McEnearney Associates, Inc.) almost 8 years ago

Great to hear, AJ, that the Shirlington real estate market has proven over the past year to be strong enough to stand on its own without any influences of home-buyer credit - a very positive trend!

Posted by Karen Hawkins, MBA - Langley & Surrey, BC (Royal Pro Real Estate Network) almost 8 years ago

Karen - We will take it here locally... and hopefully get some nice inventory to increase the sales numbers for this year.  The buyers are out there, but not seeing much of what they were expecting in this HGTV world.

Posted by AJ Heidmann ~ CRS, YOUR Alexandria & Arlington, VA Real Estate Expert (McEnearney Associates, Inc.) almost 8 years ago

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