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, August 12-18, we had 33 condos and co-ops that went to settlement, ranging in price from $145,000 to $1,040,000. The median price was an even $417,000 and the median days on the market were 7 days.
What can you get around the median price of $417,000? In Arlington, you can get:
- 2 BR/1 BA condo at Colonial Village: 1748 N Rhodes Street #319, built in 1940 for $417,000 and a condo fee of $464/month. Located in the Courthouse area, this is a short walk to the metro.
- 1 BR/1 BA condo at West Village of Shirlington for $377,000. The complex of the West Village of Shirlington was originally built in 1966 as rental apartments and then completely gutted in 2005 and converted to condos.
- 2 BR/2 BA condo at the Carlyle House at 5300 Columbia Pike #1007 for $375,000. This Penthouse level unit boasts a large 1,325 square feet plus an extended balcony.
For a complete list of sales, visit ArlingtonCondo.com Just Sold Condos page.
What Didn’t Sell?
If you are following the real estate market, while it is important to watch what sells, it is also important to watch what doesn’t sell. Last week there were 8 condos removed from the market. Four were withdrawn, 1 expired, and 3 cancelled. When a listing is removed, it can have one of three status’:
- Expired – The listing term has reached its end and the listing agreement is over.
- Cancelled – The listing term hasn’t reached its end, but the seller decided to cancel the agreement with the agent.
- Withdrawn – There is still a listing agreement in place but the seller has decided to take it off the market. A number of listings will be withdrawn in December around the holidays and then put back on the market a few months later.
For a complete list of what didn’t sell last week, visit ArlingtonCondo.com Just Expired Condos page.
Selling Your Condo in the Fall: Smart Move or Missed Opportunity?
If you’re considering selling your condo in Arlington, you might be wondering if the fall is the right time to do so. While most people associate spring with a bustling real estate market, fall has its own unique advantages that can make it an ideal season for selling.
Understanding Market Trends
One of the key trends to note is the uptick in activity after Labor Day. Historically, there is a noticeable jump in new listings come September, as evidenced by market data. This increase in listings suggests that sellers are capitalizing on the heightened buyer interest returning from their summer hiatus.
The chart below shows the number of new condo listings by month for the past ten years. The red arrows point to the bar for September and, as you can see, there is a noticeable jump.
Benefits of Selling in the Fall
Motivated Buyers
Come September, buyers who delayed their home search during summer vacations are back in action. They are often motivated to close deals quickly, especially before the holiday season sets in, making them more likely to make competitive offers.
Moreover, fall is also a transitional period when people start planning for the upcoming holiday season. This creates a sense of urgency among buyers who want to finalize their housing situation before the busy holiday season begins. As a seller, this means you have a higher chance of attracting serious and motivated buyers who are looking to make a move quickly.
To see more reasons and other considerations when selling, read the full post here: Selling Your Condo in the Fall Smart Move or Missed Opportunity.
Be sure to try the short assessment to test your readiness.
Please note: While ArlingtonCondo.com provides this information for the community, they may not be the listing agent of these homes. Equal Housing Opportunity.
