Each week, “Just Sold Condos” spotlights condos in Arlington that have sold over the previous week. The market summary is crafted by Rick Bosl, the Arlington Condo Expert, founder of ArlingtonCondo.com, and an agent with KW Metro Center. Contact Rick and make your next move the right move.
Welcome to Just Sold Condos in Arlington!
Last week was a shortened week for condo sales with the Fourth of July holiday in the middle. Still, there were 14 condo closings in Arlington. Settlements typically only take place on non-holiday, weekdays.
The highest priced condo to close last week was Unit #1001E at Lexington Square (in the 3835 9th Street N building), which sold for $780,000. This was a 3 BR/2 BA corner unit with just over 1,252 sq. ft., one parking space and a storage unit.
On the other end of the spectrum, the least expensive condo to sell was actually a cooperative (aka co-op) — a studio at River Place in the north building sold for $140,000. The studio was only 425 sq. ft. but nicely updated. For a pied-à-terre or student housing, it works out just fine.
A few sales from last week:
- Lexington Square — 3835 9th St. N #1001E, 22203 — $780,000
- Atrium — 1530 Key Blvd. #927, 22209 — $535,000
- West Village at Shirlington — 4111 S Four Mile Run Dr. #103, 22204 — $510,000
- Colonial Village — 1913 Key Blvd. #11572, 22201 — $308,900
- River Place — 1121 Arlington Blvd. #801, 22209 — $140,000
For a complete list, visit the ArlingtonCondo.com Just Sold Condos page.
Arlington is unique in that there are wide price ranges between neighboring buildings. In Rosslyn, you can have a studio at River Place selling for $140,000 just a few blocks away from a $4.75 Million condo at Turnberry Tower.
Last week also marks the end of the first half of 2024. What does the data say? Did you know ChatGPT 4.0 can now analyze spreadsheets? I exported all the 2024 condo listings from the first half and ran it through Chat.
I started with some basic stats that I could also verify (they do), like:
What are the average and median sales prices?
- Average sales price: $546,350
- Median sales price: $475,000
What is the average days on market?
- 57 Days
What are the number of listings for each status?
- Sold: 637
- Active: 111
- Under Contract: 82
- Expired: 75
- Cancelled: 30
- Withdrawn: 25
- Coming Soon: 3
- Temporarily Off: 3
Then I got a little creative and this is where ChatCPT 4.0 really shines. I asked it to tell me the top 5 selling condo buildings based on sales price, days on market and the close/original price ratio. Only use buildings with at least 3 sales.
Here is what I got back:
Cambridge Courts
- Average Sales Price: $331,000
- Average DOM: 25.67 days
- Average Close/Original Price Ratio: 1.051
Williamsburg
- Average Sales Price: $646,633
- Average DOM: 33.67 days
- Average Close/Original Price Ratio: 1.031
Southampton
- Average Sales Price: $698,125
- Average DOM: 28.25 days
- Average Close/Original Price Ratio: 1.025
Fairlington
- Average Sales Price: $567,620
- Average DOM: 35.34 days
- Average Close/Original Price Ratio: 1.025
The Arlington
- Average Sales Price: $417,100
- Average DOM: 43.56 days
- Average Close/Original Price Ratio: 1.022
Read more here to see what else Chat has to say about the first half of 2024.
Please note: While ArlingtonCondo.com provides this information for the community, they may not be the listing agent of these homes. Equal Housing Opportunity.
