This regularly-scheduled sponsored Q&A column is written by Adam Gallegos of Arlington-based real estate firm Arbour Realty, voted one of Arlington Magazine’s Best Realtors of 2013. Please submit follow-up questions in the comments section or via email.
Question: I’ve never been one to appreciate the “character” that others find so delightful in older homes and I don’t think I can afford brand new. What does a recently-built home cost near the Orange Line in Arlington?
I work with a lot of home buyers like yourself that would prefer something built within the last 10 years or so. These homes tend to have less wear & tear. They also closer to today’s standards of finishes, materials and energy efficiency.
Because you haven’t specified the type of home you are looking for, I’ll provide a breakdown across condos, townhomes and single family houses. Please understand that the home’s age is only one of many variable. Factors such as location and size also play a big part in determining the price.
Condos
- There are currently 43 condos on the market.
- Price range: $299,000 – $1,995,000.
- Popular buildings: Clarendon 1021, Phoenix, Station Square, Liberty Center, 1800 Wilson, Berkeley, Continental, Clarendon 3131, Hawthorn, Rhodes Hill Square, Odyssey (above) and Hartford.
- Luxury buildings: Turnberrry Towers, Gaslight Square, Waterview and Wooster & Mercer Lofts.
If you wanted to buy a one-bedroom in a popular building like the ones I’ve listed above, you should prepare to spend between $400,000 – $450,000 on average. If you are looking for a two-bedroom in a similar building you should prepare to spend between $600,000 – $700,000 on average. There are plenty of options above these price ranges, but this is what I would consider the sweet spot.
Townhomes
- There are currently 7 townhomes on the market.
- Price range: $785,000 – $1,240,000.
- Popular neighborhoods: Ballston Green, Bromptons, Lyon Village, Courthouse Heights and The Vista.
To truly be on the Orange Line you should prepare to spend at least $900,000 for a newer townhome.
Single Family Houses
- There are currently 9 houses on the market.
- Price range: $1,099,990 – $2,825,000.
- Popular neighborhoods: Lyon Park, Lyon Village, Ballston and Clarendon.
There are some outliers, but you should prepare to spend at least $1,300,000 for a newer single family home on the Orange Line.
Your Home’s Value
This does not pertain to this week’s question, but if you own a home in the Arlington area and want to find out the current market value, please try out our brand new tool for doing so: http://Ask-Adam.SmartHomePrice.com/
The views and opinions expressed in the column are those of the author and do not necessarily reflect the views of ARLnow.com.
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Arlington and its neighbors have become more segregated in the last 10 years while fair housing legislation at the state level faces significant roadblocks. Arlington’s fair housing enforcement, education, and commitment to equity practices in housing policy and programs are beginning to show signs of improvement but much more needs to be done.
Join the NAACP Arlington Branch, HOME of Virginia, and Equal Rights Center for the 2nd Annual Arlington Fair Housing Conference on April 15th to discuss the threats and opportunities to advancing fair housing policy across the state and within Arlington.
The half-day, in-person event will feature speakers from fair housing advocacy organizations and government agencies including the U.S. Department of Housing and Urban Development, and focus on fair housing policy trends in Virginia and Arlington County. The conference aims to advance the understanding of issues and policies related to equity and affirmatively further fair housing among local officials, advocates, and members of the public.
2nd Annual Arlington Fair Housing Conference
Is home ownership a goal of yours in 2023? Now is the time to make it happen! Grab a (virtual) drink with the area’s top Real Estate experts, learn all about the home buying process and on how you can get $1,500 towards your closing costs immediately!
Did you know the average Arlington renter will spend $150K in 5 years of renting? Stop paying down someone else’s mortgage! Join us for a Rent vs. Buy Happy Hour on Wednesday, April 5th at 6 p.m. via Zoom. If this time doesn’t work, we also are offering times convenient for your schedule!
A lot has happened in the local market since the beginning of the pandemic. Sip on your drink of choice and learn from Northern Virginia, Arlington and Washingtonian Magazines top producing agents! We will discuss the latest market updates, the home buying process and rent vs. buy cost savings. Please RSVP by clicking here.
Call/text Manavi at 703-869-6698 with any questions!
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