The View from South of the Potomac River: The Arlington Condo, Arlington VA ~ Mid-Year 2013 Update

The Arlington Condo, Arlington VA ~ Mid-Year 2013 Update

At the mid point of the 2013, 24 units in The Arlington Condominium had successfully reached the settlement table.  At this pace, 2013 should do well above the 5 year rolling average of 30 sold units per year. 

What stands out here is the average price for the “A” units, showing that they had the highest average at $309K.  As the smallest unit in the association and located on the ground floor, they tend to bring in a lower sales price, but due to several (surprisingly high) sales they have outperformed the upper level “M” model.  The M model is the largest unit in the association in a 2Bed/1Bath configuration, is on two levels so it lives very much like a town home, and has carried a higher average sales price over the other configurations (up until now).

 

 

The Arlington Mid Year Report

  Model      # Sold         Sales Range               Ave. Price     Ave. Subsidy

  A Lower          4       $305,000-$313,000       $309,000          $1,250

  B Upper          7        $277,500-$308,000       $296,000          $1,971

  C* Lower        2        $280,000-$296,000       $288,000             $  0

  L Lower          3      $365,000-$382,500       $376,500             $  0

  M Upper         7       $275,000-$315,000       $303,071          $3,286

 *Excludes 1 unit without a functional kitchen        Source: MRIS closed sales 1/1/13 – 6/30/13  

 

Location wise, The Arlington is located less than a mile from Shirlington; with all of it’s shops, theatre, restaurants, movies, and is just off of I-395 at the King St/Route 7 exit.  This puts it within a few miles of the Pentagon and Washington, DC via I-395 and multiple bus lines to the Pentagon Metro.  This close-in location provides for a higher quality of life versus due to lower commuting times.

Originally built as an apartment complex in 1950, The Arlington was then converted into condominiums in 1980.  At the conversion, decks and patios were added as options for individual unit owners to buy and the common basement laundry rooms were divided to create a lower level for the L units, which normally have 3 bedrooms and 2 bathrooms.

As a proud former resident of The Arlington, it is a great community to call home and our family still maintains the friendships that were created there.  If now is the time for you to sell your unit in The Arlington or you are considering it for your next home purchase, please feel free to contact me today.

  

AJ Heidmann ~ CRS, CDPE, ABR

Cell 703-474-1260 ~ Office 703-717-6324 ~ Fax 703-839-8283

AJ@AJHeidmann.com

McEnearney Associates, Inc.

4720 Lee Highway, Arlington, VA  22207

Licensed in Virginia

 

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 6 commentsAJ Heidmann ~ CRS • August 07 2013 09:59AM

Comments

Good morning AJ -

Thanks for sharing the updated information on the Arlington Condominium mid year market.  I'm seeing many interested in Condo's in our area as well.  For some it's a great lifestyle.

Posted by John McCormack, CRS, Honesty, Integrity, Results, Experienced. HIRE Me! (Albuquerque Homes Realty) almost 7 years ago

Great information AJ!

Thank you for putting it together and doing such a good BLOG to help us learn what's going on in that market.

 

Thank again. Sincerely,

Cooper Jacobs Real Estate

Posted by Cooper Jacobs, Real Estate Brokers - Seattle (Looking For A Seattle Realtor? COOPERJACOBS.COM) almost 7 years ago

John - Thanks for stopping by and I'm glad to hear that the condo market is picking up in Albuquerque.  Being so close-in to DC & the Pentagon really make this association very desirable.

Cooper - I appreciate your comments and best of luck with the Seattle market.

Posted by AJ Heidmann ~ CRS, YOUR Alexandria & Arlington, VA Real Estate Expert (McEnearney Associates, Inc.) almost 7 years ago

Sounds like those Arlington condos are moving quick!

Posted by Renée Donohue~Home Photography, Western Michigan Real Estate Photographer (Savvy Home Pix) almost 7 years ago
AJ -- The Arlington condo market is cranking and you're right -- at this pace 2013 should outperform the 5 yr average. Keep up the good work!
Posted by Barbara Altieri, REALTOR-Fairfield County CT Homes/Condos For Sale (Kinard Realty Group Fairfield and New Haven County CT Real Estate) almost 7 years ago

Renee - I just wish I had more inventory, as properly priced units are flying off the shelf.

Barbara - Thanks for stopping by... I settled another on yesterday so I think the will definitely end up well above the average.

Posted by AJ Heidmann ~ CRS, YOUR Alexandria & Arlington, VA Real Estate Expert (McEnearney Associates, Inc.) almost 7 years ago

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