This regularly-scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based realtor and Arlington resident. Please submit your questions to him via email for response in future columns. Enjoy!
Question: How did Arlington’s condo market perform in 2020?
Answer: I ended up writing a lot about the condo market during the second half of 2020 because of the historically high number of units listed for sale from July to November, falling demand and falling market values (compared to the first half of the year). However, there were slightly positive signs in the last month of 2020 and early weeks of 2021 that the negative trends are reversing. Despite a second half that looked very different from the previous three years, 2020 overall was still a strong market for condos in Arlington. Let’s take a look at how things played out…
Prices Up, Volume Down, Pace Mostly Unchanged…
The average and median price of condos increased by 4.2% and 6.3%, respectively, a strong performance but a bit short of the nearly 8% growth in 2019. I wouldn’t be surprised to see no appreciation or slightly negative appreciation in 2021 as a result of changing housing priorities from COVID-19.
Despite the late surge of condos listed for sale, the number of condos actually sold in 2020 dropped 8.3% from 2019 and 19.3% compared to 2018.
The speed of the market remained relatively unchanged, with average days on market staying put at seven days and median days on market decreasing slightly from 19 days to 18.4 days. However, my preferred “speed” metric, the percentage of units selling within one week, dropped to 48% in 2020 from 52% in 2019 — but it’s still well above 29% from 2018.
Six Interesting Charts
Below, I put together a series of charts to visualize how the Arlington condo market performed in 2020 and how that performance compares to the 2015 to 2019 markets.
If you’d like to discuss buying or selling strategies, don’t hesitate to reach out to me at [email protected].
If you’d like a question answered in my weekly column or to set-up an in-person meeting to discuss local Real Estate, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at www.EliResidential.com. Call me directly at 703-539-2529.
Eli Tucker is a licensed Realtor in Virginia, Washington DC, and Maryland with RLAH Real Estate, 4040 N Fairfax Dr #10C Arlington VA 22203. 703-390-9460.
In loving memory of Joseph Robert Kapacziewski, who passed away in 2023 at the age of 41.
In loving memory of James Stuart Edmonds, who passed away in 2023 at the age of 84.
A man was shot in front of a lounge on Columbia Pike early this morning, continuing a string of violent incidents.
Good Friday evening, Arlington. Today we published articles that were read a total of 17124 times… so far. 📈 Top stories The following are the most-read articles for today —…
YULA’s ultimate frisbee spring season is now open for registration. We offer programs for middle and high schoolers – open to all players, whether they are new or have previous experience.Middle SchoolIn the Middle School league, mixed-gender teams practice once during the week and have games on Sunday afternoons. Spring league is a fun, safe, and positive environment. The season begins mid-March and wraps up with a tournament in early June. There are several options for practice days, so we can often work around schedule conflicts with other sports & activities.High SchoolThe High School program is organized by school of attendance and teams are classified by gender. New players will learn the basics in a supportive, welcoming environment. Experienced players will continue to develop their skills, and enjoy competition with other high school programs. The season concludes with a state level championship tournament in late May.All players are guided by experienced coaches who emphasize sportsmanship and good spirit. Ultimate is a fun sport with great camaraderie!YULA does not want finances to limit anyone from participating. Our middle school program offers a “Pay What You Can” cost structure and our our high school program is offering a $50 discount to new players.Visit our website to register and learn more. Sign up with a friend, but don’t delay, the season starts in March!http://www.yula-ulti.org
The Arlington-Aachen High School exchange is returning this summer and currently accepting applicants.
The sister-city partnership started in 1993 by the Arlington Sister Cities Association, which seeks to promote Arlington’s international profile through a variety of exchanges in education, commerce, culture and the arts. The exchange, scheduled June 17th to July 4th, includes a two-week homestay in Aachen plus three days in Berlin. Knowledge of the German language is not required for the trip.
Former participants have this to say:
_”The Aachen exchange was an eye-opening experience where I was fully immersed in the life of a German student. I loved biking through the countryside to Belgium, having gelato and picnics in the town square, and hanging out with my German host student’s friends. My first time out of the country, the Aachen exchange taught me to keep an open mind, because you never know what could be a life changing experience.” – Kelly M._
Valentine gifts for someone special or for yourself are here at George Mason University from noon -4pm on February 14, 2023. Satisfy your sweet tooth with Kingsbury Chocolates, find a handmade bag from Karina Gaull, pick up treats from Village