The View from South of the Potomac River: The Arlington Condo, Arlington VA ~ 1st Quarter 2014 Market Review

The Arlington Condo, Arlington VA ~ 1st Quarter 2014 Market Review

As the 1st quarter of 2014 draws to a close, 8 units in The Arlington Condominium had successfully reached the settlement table, with another 3 units under contract.  Though it is early to draw a trend, 2014 should do well above the 5 year rolling average of 30 sold units per year, especially when considering the unusually cold and snowy weather we have had so far this year. 

With the limited data points, it is interesting to see that the loan M model sold for an unusually low net sales price of $254K, which was due to the dated condition of the unit in question.  Normally the M unit has the highest sales price out of the 4 models in a 2bed/1bath configuration due to the 2 level layout that provides a great separation of public & private space. 

The ground floor level C models have continued the trend of 2013 where these units, and A models, were selling at prices above the upper level units.  Whether this is attributable to buyers avoiding steps or the individual level of upgrades in the units, it does bear watching for the remainder of the year... especially if you are considering that sale of your ground floor unit.

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 Q1 2014

  Model      # Sold           Sales Range               Ave. Price       Ave. Subsidy

  A Lower          0                    -                           -                      -

  B Upper            3            $260,000-$313,000        $291,000           $  0

  C Lower         2         $289,000-$310,000        $299,500          $6,325

  L Lower         2       $350,000-$402,000       $376,000           $7,710

  M Upper         1              $260,000                $260,000          $6,000

 Source: MRIS closed sales 1/1/14 – 3/28/2014  

 Originally built as an apartment complex in 1950, I'm told it was not the nicest area back then, The Arlington was converted into condominiums in 1980 and now enjoys the close proximity of Shirlington.  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.

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,  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 12 commentsAJ Heidmann ~ CRS • March 28 2014 11:47AM

Comments

AJ looks like you have a very strong Spring Market ahead if this keeps up!, Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) over 5 years ago

Endre - The year has started out very nice, especially with the weather (Northern VA isn't really used to cold & snow like this).  I expect once the snow melts, The Arlington will continue to have robust sales.

Posted by AJ Heidmann ~ CRS, YOUR Alexandria & Arlington, VA Real Estate Expert (McEnearney Associates, Inc.) over 5 years ago

AJ - Great real estate market update for The Arlington Condo's.

Posted by Michelle Gibson, REALTOR (Hansen Real Estate Group Inc. ) over 5 years ago

AJ, with this detailed market update you are definitely establishing yourself as a knowledgeable Realtor in The Arlington condo complex!  Sellers would do well listing with you and buyers would do well seeking you out for the best buys!

Posted by Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES, Florida Waterfront and Country Club Living (Tropic Shores Realty - Ich spreche Deutsch!) over 5 years ago

AJ your knowledge of this the Arlington Condo complex is impressive.   Interesting market report. 

Posted by Sondra Meyer:, See It. Experience It. Live It. (Star View Real Estate ) over 5 years ago

AJ Great information about condos in Arlington VA! Looks like it will be a great year!

Posted by Carla Freund, Carolina Life RealEstate & Relocation 919-602-8489 (Keller Williams Preferred Realty) over 5 years ago

AJ, it sounds like the Arlington sales are moving along well!

Posted by Connie Harvey, Realtor - Nashville TN Real Estate (Pilkerton Realtors) over 5 years ago

AJ: There are numerous excellent information in this article. I am looking forward to reading more from you.

Posted by Maria Gilda Racelis, Home Ownership is w/in Reach. We Make it Happen! (Home Buyers Realty, LLC-Manchester, Bolton. Vernon,Ellington) over 5 years ago

Excellent information! What is Avenue Subsidy?

Posted by Sun City Grand Homes Surprise AZ Real Estate Leolinda Bowers Designated Broker Leolinda Realty, Sun City Grand in Surprise Arizona (Leolinda Realty) over 5 years ago

Al, right now it must be gorgeous.  My recollection is that there are bunches of flowering tress.  And the proximity to Shirlington is a huge plus.  I do like this complex. 

Posted by Patricia Kennedy, Home in the Capital (RLAH Real Estate) over 5 years ago

Michelle - Thank you

Sivia - Actually having lived in the complex is a huge plus...

Sondra - Thanks for stopping by and the compliment

Carla - We're hoping for another great year

Connie - They are steadily moving along... and hoping it continues

Maria - Thank you so much

Leolinda - Average Seller Subsidy

Patricia - It is a great area... and so close to DC that it has a small commute

Posted by AJ Heidmann ~ CRS, YOUR Alexandria & Arlington, VA Real Estate Expert (McEnearney Associates, Inc.) over 5 years ago

Nice analysis of a very specific market that you obviously know well as a former resident.  

Posted by Elizabeth Bouchard, Associate Broker in Northern Virginia (Long & Foster Realtors) about 5 years ago

Participate