The View from South of the Potomac River: The Shirlington Report ~ February 2012

The Shirlington Report ~ February 2012

 

~ The Shirlington Report ~

The Shirlington real estate report for February shows the impact of the huge jump in contract activity in January. There were 17 units that reached the settlement table, which was just one unit shy of the results in February 2011.  Coincidentally, there were 17 new listings in February, so the net number of available units is the same as in January at 37.

I hate keep singing the same refrain (and re-use verbiage from the previous months’ report), but here it is.  Inventory… or more correctly the lack of inventory is an issue currently, with the Shirlington real estate market having less than 2 months of inventory at the curent sales pace.  Open house activity remains robust and rates remain near historic lows, so that competition remains light for properly priced and well presented units.

                         Shirlington real estate market report for February 2012                

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 a few empty nesters looking to downsize into a vibrant area.

                  shirlington real estate market by price range           

The distribution of sold units in February is almost a mirror image of the January graph.  Just 1 unit settled in the $300K - $400K range versus more than 50% of units in January coming in this range.  Additionally, the high end of the area rebounded smartly this month after having just 1 unit settle in January.  

 

                   shirlington real estate market, rolling 6 months             

With that in mind, you have to be properly priced for condition in today’s market and avoid “testing” the market for a higher price. The market has very little sympathy or patience for a "good try"; so you need an agent that has proven experience in Shirlington and can help you interpret the market to get you settled.

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 11 commentsAJ Heidmann ~ CRS • March 06 2012 12:56PM

Comments

AJ - I don't think  you're singing the same ole song my friend.  The market and interest rates are what they are! Homes are available to be bought and interest rates are historically low!  Now is the time to get off the waiting fence and become a home owner!

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

John - The Shirlington Real Estate Market & I agree with you... It is a good time for owners to make their long delayed move-up purchase.  While for buyers, low interest rates and the increased affordability of homes versus the past 5-6 years make a compelling story.

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

AJ, your report very clearly identifies one of the key reasons a knowledgeable real estate professional is a home-buyer and home-seller's best friend - you need to know how to interpret the data! You've done a wonderful job at laying out the information in clear charts and then explaining what that means to the public - well done!  It certainly seems like a great time to get my Shirlington VA home on the market!

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

Wow AJ, that first graphic is so telling.  With over half of the properties sold or under contract, Shirlington buyers and sellers need to call you right away so they can start their real estate experience off right.

Posted by Kristen Wheatley, Supporting Success - Best Job in the World! (Better Homes & Gardens | The Masiello Group) about 8 years ago

Your market reports are so much more informative than some, and that is a good reason to call you to list property!

Posted by Don Sabinske, Sabinske & Associates Inc. (Don Sabinske, Sabinske & Associates Inc.) about 8 years ago

Hi AJ -- great charts with personal commentary that explains the numbers behind the graphics.  Nicely done.   

Posted by Michael Jacobs, Los Angeles Pasadena 818.516.4393 about 8 years ago

Karen - Thanks, knowing how to interpret the data into actionable knowledge is definitely what I strive to do.

Kristin - Agreed, the lack of inventory is the driving factor right now.

Don - Information has value, versus data without context

Michael - Thanks, I lived in the Shirlington area for 6 years, so it has a special meaning to me.

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

Nice work keeping everyone up to speed with what is going on in your local market!

Posted by Bill Gassett, Metrowest Massachusetts Real Estate (RE/MAX Executive Realty) about 8 years ago

Bill - Thanks for stopping by and that's what we need to do as much as possible.

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

AJ - Great real estate market report for Shirlington, love the graphs.

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

Michelle - Thanks for stopping by and the compliment.

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

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