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
McEnearney Associates, Inc.
4720 Lee Highway, Arlington, VA 22207
Licensed in Virginia