Each week, “Just Reduced” spotlights properties in Arlington County whose price have been cut over the previous week. The market summary is crafted by Arlington Realty, Inc. Maximize your real estate investment with the team by visiting www.arlingtonrealtyinc.com or calling 703-836-6000 today!
Please note: While Arlington Realty, Inc. provides this information for the community, it may not be the listing company of these homes.
There are 365 days per year (unless it’s a leap year, of course). And, for this week’s Just Reduced column, we have $365,000 in price reductions to share! Add ’em all up and that’s what you’ll be saving off the collective original list price, folks.
But, as a friendly reminder, these preliminary savings can be only the beginning.
From the Just Reduced price and if you have a polished team on your side, you can negotiate even lower. And, if the home you’ve been eyeing hasn’t been reduced just yet, your team can help you negotiate on that front, too.
While the market may be wild right now, there are plenty of opportunities to achieve your unique real estate dreams. When you’re ready to roll, the time-tested team at Arlington Realty, Inc. is ready to advocate on your behalf.
And now on to this week’s Just Reduced figures…
As of April 12, there are 136 detached homes, 53 townhouses and 326 condos for sale throughout Arlington County. In total, 31 homes experienced a price reduction in the past week, including:
- 4112 Lee Highway N., 22207 — NOW: $1,799,990 (Reduced $75,000 on 4/8)
- 1132 N. Stuart Street, 22201 — NOW: $1,475,000 (Reduced $25,000 on 4/8)
- 1530 Key Blvd #906, 22209 — NOW: $1,225,000 (Reduced $125,000 on 4/5)
- 4819 9th Street S., 22204 — NOW: $899,980 (Reduced $50,000 on 4/8)
- 1806 N. Cleveland Street, 22201 — NOW: $850,000 (Reduced $75,000 on 4/5)
- 3409 Wilson Blvd #606, 22201 — NOW: $669,999 (Reduced $10,000 on 4/5)
- 3830 9th Street N. #302E, 22203 — NOW: $434,950 (Reduced $5,000 on 4/4)
Please note this is solely a selection of Just Reduced properties available in Arlington County. For a complete list of properties within your target budget and specifications, contact Arlington Realty, Inc.
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 Q1 compare to other quarters, and what does that mean for Q2?
Answer: The housing boom has been front-and-center in the national news cycle for about six months now, and Q1 blessed many homeowners and builders with amazing results, while inflicting similar levels of frustration on buyers.
Despite the national, regional and local craziness, the Arlington single-family home (SFH) and townhouse (TH) markets actually didn’t look that different in Q1 2021 compared to the last couple of (post-Amazon HQ2) years, so the pandemic-related housing boom hasn’t created nearly the systemic shock here as it has in other local markets like Fairfax County and Loudoun County. Months of Supply (measure of supply and demand) for SFH is down 36% YoY for Q1 in Arlington, but over 50% in Washington D.C., Fairfax County and Loudoun County with Loudoun County SFHs down an incredible 73.9% YoY in Q1.
Arlington Quarterly Market Performance
First, let’s take a look at a breakdown of the Arlington SFH/TH quarterly market performance, with some highlights bulleted below:
- If you’re buying a SFH/TH that has been on the market for 10 days or less, prepare to pay an average of 2-3% over the asking price. 12% of buyers since 2020 have paid 5% or more over the asking price.
- Since 2020, about two-thirds of SFH/TH properties go under contract in 1-10 days and only 21% have stayed on market for more than 30 days.
- You can expect price escalations on hot properties to be even further above the asking price in Q2 compared to Q1, based on historical data. The only exception to this was in 2020 because Q3 functioned like Q2 due to a delayed spring market caused by the pandemic.
- Expect about one-third of 2021’s SFH/TH properties to be listed for sale in Q2, the most of any quarter by a significant margin.
- Among SFH/TH properties that went under contract in 1-10 days in Q1, the average sold price of those homes increased 11.8% over Q1 2020. Last year there was a 5.7% increase in average sold price of hot properties compared to Q1 2019.
Northern Virginia and Washington D.C. Market Performance Comparison
As noted earlier, the pandemic created a much sharper change in the real estate markets outside of Arlington because Arlington had already experienced similar changes due to Amazon’s HQ2 announcement in November 2018. Below are some charts comparing the SFH markets (and one comparing the condo markets) in Washington D.C., Arlington, Fairfax County and Loudoun County, with some highlights bulleted below:
- In 2018 and most of 2019, Months of Supply for SFH in Washington D.C., Fairfax County and Loudoun County was 2-3x higher than Arlington (indicating a more favorable market for buyers). In Q1 2021, Fairfax County and Loudoun County had about half the Months of Supply as Arlington and Washington D.C., clearly a sign of buyer preferences for more space, lower $/SqFt and de-prioritization of commute time and walkability.
- The most dramatic pandemic-related market shift for Arlington has been the condo market going from the most favorable market for sellers pre-pandemic to a near tie with Washington D.C. for least favorable, by a significant margin.
- Fairfax County stands out for the huge drop in active SFH home listings, dropping from an average of nearly 2,000 listings/quarter in 2018 to less than 500 in Q1 2021.
- The data suggests relatively little change in average prices in Q1 2021 in Arlington and Washington D.C., but I think this is more about the data composition than a reflection of actual pricing because everything I’ve experienced in the market suggests strong price growth in Q1 2021.
- Median days on market for SFH has been below 10 days in all four markets since the pandemic began.
If you’d like to discuss buying, selling, investing, or renting, 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.
The Townes at South Glebe by the Christopher Companies boasts a location in the desirable and historic city of Arlington and across the Potomac River from Washington D.C.
These brand-new townhomes offer the perfect blend of modern luxury and urban convenience, nestled next to Army Navy Country Club and near everything the D.C. region has to offer.
These homes will provide new homebuyers quality designer exteriors and three to four levels of spacious living, while featuring the most stunning interior appointments.
Stop by our website to learn more and take a virtual tour.
This neighborhood is home to some of D.C.’s top-ranking centers of education — but does that mean that moving here is the smart choice?
Like all of Arlington, the real estate market in Yorktown is very strong right now. We are seeing a ton of traffic as people are moving up from Arlington condos to the single-family homes in this bucolic locale. So join the Keri Shull Team today as we share everything you need to know about the in-demand Arlington neighborhood of Yorktown.
And, as always, if you have any questions about Arlington real estate, contact the Keri Shull Team, the No. 1 top-selling real estate team in the Washington, D.C. area.
Not to be confused with the census-designated place of the same name near Newport News, the Yorktown we are covering in this guide is a neighborhood in the northern stretch of Arlington, Virginia.
Although Yorktown itself offers a quiet slice of suburbia, the neighborhood is not far from the action in Arlington. Yorktown sits to the northwest of Ballston, one of the main centers for commerce and entertainment in Northern Virginia. This means the area is perfect for people who work in Arlington or attend school at one of the prestigious institutions along the Orange Line.
Living in Yorktown
Speaking of homes, most of the houses for sale in Yorktown are single-family homes. This means that, although the neighborhood offers easy access to the rest of Arlington and the D.C. area via Lee Highway, Yorktown retains a tranquil, suburban feel.
Yorktown is well-known for its great education options. Yorktown High School consistently ranks in the top 100 public schools in the entire nation, and Marymount University is immediately adjacent to the neighborhood.
Even though most of Yorktown is dedicated to residential spaces, there are still great options for dining and recreation in the area. The main retail center in Yorktown is Lee Harrison Shopping Center, which features both local favorites and national chains.
Owning a Home in Yorktown
So, why are homes in such high demand in Yorktown? Yorktown’s market remains hot because it’s the neighborhood that has it all. With both a family-friendly atmosphere and easy access to all of the nightlife and entertainment in Arlington, this community is thriving right now.
Getting Around NoVA
Although there is not a Metro stop in Arlington’s Yorktown neighborhood, residents are still able to get around with ease. The southern border of Yorktown is defined by Old Dominion drive, an important throughway for NoVA traffic. This means commuters living in Yorktown can easily access everything that the D.C. area has to offer.
Plus, with a respectable Walk Score of 71, it is very possible to take care of daily errands via foot, all without sacrificing the quiet of suburbia.
The Verdict on Yorktown
Yorktown residents get to enjoy the utmost privacy and tranquility that comes with suburban living. However, thanks to the proximity of downtown Arlington and other NoVA cities, you don’t have to sacrifice amazing entertainment, dining and recreation.
Finally, the neighborhood is replete with natural beauty. Greenbrier Park and Rock Spring Park, in particular, are amazing spots to get some fresh air.
On top of this, we are seeing an increasing interest in single-family homes in 2021, with more and more condominiums going on the market as families outgrow their homes. This means that people are moving away from high-rise neighborhoods like Rosslyn or Ballston and into more suburban locals — such as Yorktown.
This means that if you want to find a home in Yorktown, you need to have every advantage that you can get!
Finding a Home in Yorktown
At the Keri Shull Team, we have hundreds of off-market properties that you cannot find online or anywhere else… and we want to give you priority access to these homes before they even go on the market!
And if you are selling a house in Arlington, it’s more important than ever to make sure you are taking the proper precautions to protect your investment. The best way to do that is to speak with a top-tier real estate agent and create a completely customized home selling strategy.
So what are you waiting for? Just schedule a free, no-pressure consultation with one of our Real Estate Needs Analysts!
This sponsored column is written by Todd Himes, beermonger at Arrowine (4508 Lee Highway). Sign up for the email newsletter and receive exclusive discounts and offers. Order from Arrowine’s expanding online store for curbside pickup.
This has happened to us all, I am sure.
It’s a little after noon one weekday, and you see the notification pop up on a group text you’re in with a few old coworkers: “I’m adapting Julia Child’s Beef Bourguignon recipe to beer and not sure what type to sub in for the wine.” Will this beer cook down to be too bitter? Would a sour mirror the acidity found in the wine? Could this beer be too light and be overpowered by the beef? Maybe. The answer to all of these questions really is maybe.
Cooking with beers can be tricky, but there are a few general guidelines you can follow to set yourself up for success.
First, don’t cook with something you wouldn’t want to drink on its own. If you didn’t like it the way it was brewed to be enjoyed, then you’re probably not going to like what it does in your recipe.
Secondly, don’t start off too bitter — not just hops but intensely roasty beers as well. Long cooking times and reductions will concentrate and intensify those bitter flavors. I strongly suggest skipping over coffee beers, too. The high heat brings out extra bite in the coffee like an over extended brewing time would.
Lastly, it’s better to skip anything you’d describe as subtle or delicate flavor-wise, as those flavors can be masked by other ingredients or lost in the cooking process.
So now that we got the negatives out of the way, let’s talk about the things you can and should definitely try.
Sweeter malty beers will concentrate over time and make an excellent choice for braising and stews. I love De Struise Pannepot, a really unique take on a Belgian Dark Strong Ale that veers towards Imperial Stout. One of the most decadent things I have ever eaten was at Nuetnigenough in Brussels where they served braised beef cheeks that had slow cooked in that beer.
Rich chocolatey stouts can be incredible in baked goods like brownies.
Steamed Mussels in Lambic are always delicious as well. I’ve enjoyed anything from a classic Gueuze with butter and garlic to Framboise with bacon. Recently, when it was a little too cold to break out the smoker, I even added a bit of Aecht Schlenkerla Rauchbier Urbock to some onions, mustard and a pork shoulder and was very pleased with the results after a few hours in a 275°F degree oven. The smokiness wasn’t overpowering at all, and it even cooked down to a rich umami-packed sauce that would be just as good in vegetarian chili as it was here.
Anybody out there have a great recipe for cooking with beer they want to share with me? I’ve been wanting to try swapping out a little bit of the water in my pizza dough recipe for a crisp pilsner.
Oh, and if you’re curious what I suggested for the Bourguignon, I pushed for an Oud Brun with its maltiness and tart acidity, but those are getting harder and harder to find. I couldn’t even offer a classic example here, but the friend in question settled on a Right Proper Baron Corvo, which is a pretty damn good choice I’d say.
Address: 1730 Arlington Blvd #507
Neighborhood: The Weldon Condominium
Take your first step on the housing ladder with this light-filled one-bedroom condominium near everything you want in Arlington.
The large living and dining area overlooks a quiet, treed hillside and provides space for media, dining, reading, relaxing, and working and learning from home. A second desk area is available in the bedroom, and the generous closet space is a plus. The kitchen features light-wood cabinets, granite tops and stainless appliances, while the bath has classic white tile and a large vanity. The heating and cooling system is nearly new. Fresh, neutral decor and gleaming floors enhance the home’s appeal.
Two reserved parking spaces come with the condo, and the low condo fee of $445 per month includes all utilities. Enjoy the Weldon’s exercise room, rooftop deck with panoramic views of the Washington and Rosslyn skylines, and a secure lobby for package deliveries. As a bonus, you can see the caisson horses graze on the hillside at Fort Myer.
Jog to the Iwo Jima Memorial to hear the Netherlands Carillon, and stop at the venerable Quarterdeck for a sandwich and beverage on the way home. Walk or bike to the Courthouse Metro Station and for shops, restaurants, farmers market and nightlife. You’ll have an easy commute to Washington, the Pentagon, National Airpot, Fort Myer/Henderson Hall, Rosslyn-Ballston corridor, and Pentagon and Crystal Cities at National Landing.
Looking for a home? There are plenty of houses and condos open for viewing this weekend.
3201 Military Road
6 BD/6 BA, 2 half bath single-family home
Agent: KW United
Open: Sunday, 1-4 p.m.
3911 Lorcom Lane
5 BD/5 BA, 1 half bath single-family home
Open: Sunday, 1-4 p.m.
3179 17th Street N.
5 BD/4 BA, 1 half bath single-family home
Agent: Long & Foster Real Estate
Open: Sunday, 1-4 p.m.
1807 N. Underwood Street
4 BD/4 BA single-family home
Agent: McEnearney Associates
Open: Sunday, 12-3 p.m.
1521 23rd Road S.
3 BD/3 BA single-family home
Agent: Long & Foster Real Estate
Open: Sunday, 1-4 p.m.
1411 Key Blvd, #304
2 BD/2 BA condo
Agent: Long & Foster Real Estate
Open: Saturday, 1-3 p.m.
1327 S. Glebe Road
4 BD/3 BA, 1 half bath townhome
Agent: Keller Williams Capital Properties
Open: Sunday, 1-4 p.m.
Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Andors Real Estate Group.
Last week I wrote about Easter being a busy week in real estate. While it was true this year, it was slower than surrounding weeks, comparatively speaking.
Plenty of real estate transactions occurred, including abundant “bidding wars,” but the numbers softened by 20% to 30% in some of the key metrics I measure weekly.
We had fewer new listings, fewer ratified contracts, and available inventory increased. It’s too early to tell, but I’m sure this won’t be a lasting trend — demand is simply too high!
Arlington’s small geographic area is largely made up of detached homes, and these homes are the most in demand by a wide margin. We’ve got virtually no new land available for large-scale developments, so this is a matter of scarcity, even if sellers of existing homes decided to list their properties in large numbers.
Developers can certainly go vertical where zoning allows, but there is no shortage of available condominiums to purchase.
I expect land value to continue to increase at a rapid pace in the short- and mid-term, all while the average stock of housing continues to age. Smaller, older homes are on the chopping block as builders continue to work in the upper price brackets, despite the desire of many to call the smaller houses their home. The economics of Arlington real estate has developers continuing to produce a steady stock of new homes for sale, but the prices are multiples above the average resale in Arlington.
Sellers listed 96 homes for sale this past week, down 12 from the week before, while buyers ratified 59 contracts in the same timeframe — 37 fewer than the week prior; 28 of the homes that went under contract were on the market for seven days or less.
This week, there are 427 available properties for sale throughout all of Arlington and across all property types — one more to choose from compared to last week. Of these, 92 are detached homes — making up just 21% of the available inventory. There are 46 townhome/semi-detached homes, and condominiums make up 289 of the available units in Arlington, or 67%.
A quick comparison to last year: For the same week, sellers listed 60 homes and buyers ratified 38 contracts. There were also only 239 available properties for sale this week last year.
The average list price for currently available properties is $808,341 and the median is $575,000. Currently available properties in Arlington have an average of 67 days on market (DOM) and a median of just 35.
Click here to search currently available Arlington real estate. If you see a home you’re interested in purchasing, give us a call.
Call the Andors Real Estate Group today at 703-203-1117 to talk more about buying or selling Arlington real estate. Below are eight new listings I think you might like to check out:
- 1112 S. Highland Street #2, Arlington, VA 22204 — $499,900
- 2400 Clarendon Blvd #214, Arlington, VA 22201 — $574,999
- 1220 N. Filmore Street #806, Arlington, VA 22201 — $618,900
- 1211 S. Eads Street #606, Arlington, VA 22202 — $639,000
- 2016 21st Street N., Arlington, VA 22201 — $789,800
- 1820 24th Street S., Arlington, VA 22202 — $915,000
- 1026 21st Street S., Arlington, VA 22202 — $925,000
- 3128 Key Blvd, Arlington, VA 22201 — $1,499,000
Virginia Tech’s Evening MBA program is among the best in the country, according to a 2022 survey of the nation’s top graduate schools by U.S. News & World Report.
In the newly released rankings of Best Part-time MBA programs, Virginia Tech’s Falls Church-based program is ranked No. 28 overall and No. 1 in Virginia.
In addition, Virginia Tech’s Arlington-based Executive MBA was named the nation’s fifth best by GreatBusinessSchools.org.
“The rankings reflect our commitment to providing students with top-quality education, immersive experiences, and a robust network that will strengthen their career prospects for years to come, all at a high-value tuition rate,” said Dana Hansson, director of MBA programs at Virginia Tech.
In January, Virginia Tech announced it will expand this commitment by offering a fully online MBA program.
“Accommodating students with virtual learning over the last year across all of our MBA formats allowed us to explore fully online delivery as a permanent option through the recently announced Online MBA. This new program seats its inaugural cohort this summer, and we’re already encouraged by the level of interest and strength of the applications we’ve received,” said Hansson.
The online program will build on the strength of Virginia Tech’s already established programs, said Parviz Ghandforoush, Associate Dean for Graduate Programs at Virginia Tech’s Pamplin College of Business.
“The new format allowed us to combine some of the tried and true features of our established in-person MBA formats and online master of information technology to craft the best possible educational experience for students who value consistent interaction with their classmates and also want the flexibility of an online program,” Ghandforoush said.
Program leadership is encouraged by the latest recognition for its Evening and Executive formats and looks forward to expanding its suite of part-time programs.
“Our strategic focus since 2013 has been to provide working professionals with flexible options that fit into their personal and professional lives. We’re excited to provide this new opportunity to professionals across the globe who want to further their careers and join our talented group of students and alumni who are proud to call themselves Hokies,” Hansson said.
Learn more about Virginia Tech MBA Programs at mba.vt.edu.
Title insurance is boring, but Allied Title & Escrow is here to decode the jargon and make it (somewhat) more interesting. This biweekly column will explore the mundane (but very necessary!) world of title insurance while sharing interesting stories of two friends’ entrepreneurial careers.
For many people across Northern Virginia, buying a home is one of the biggest investments they will make in their lifetime. That’s why it is so important to make sure that your investment is protected.
Believe it or not, there are many reasons why title insurance and working with a reputable title company is so important. Here are the most common and unexpected reasons you absolutely need title insurance.
1. Proper Record-Keeping
When you use a title and escrow company to process your sale, this means there is a proper record for who owns the home and land. This helps protect your investment while you own it and when you want to sell it.
2. Avoid Scam Artists
Even in this day and age, there are scam artists that can forge documents and pretend to own a property. These types of people may approach you as not wanting to go through the proper channels to buy a home.
You could find later that they were not the legal owners of a home and therefore you are not the legal owner despite any money exchanged.
3. Undisclosed Estate Issues
Even if a home is not sold directly as a result of an estate sale there could be issues with a will regarding who owns a home. If someone doesn’t have full ownership rights, they can’t sell the home legally. Title insurance can help protect you from undisclosed issues down the road.
4. Fencing or Illegal Building on Your Property
Whether you have a lot of property or a small piece of property, encroachment of fencing or buildings onto your property can be an issue. Just because a building or fence is there does not mean that it was permitted, approved or on the property line. A good title and escrow company can help you understand what you own and what you need to protect.
5. Legal Disputes
Anything from divorce, bankruptcy or disputes regarding payments on renovations can put the title of a house at risk. If you buy a house with outstanding lawsuits or potential lawsuits, you might have legitimate liability as a new buyer if you don’t have title insurance.
In any industry errors and omissions can happen. Title insurance protects you from overlooking something regarding your property and its legal ownership.
An example is that it’s possible that an heir was never put on the deed and as a result that person could come back years later saying they own 50% of your property. If you don’t have title insurance you could have to pay the heir out of your own pocket which could be worth hundreds of thousands of dollars.
Whether it is a boundary issue or defects in the title, title insurance can provide you with some peace of mind and help secure your largest investment.
Pro tip: Always choose the enhanced policy over the standard policy when purchasing a single-family home or a newly constructed condo. The enhanced policy protects you against boundary disputes and also increases the policy’s value 10% a year for 5 years. An example is a $1M house would be covered $1.5M within 5 years.
Have questions related to title insurance? Email Latane and Matt at [email protected]. Want to use Allied Title & Escrow when you buy a home? Tell your agent when you buy a house to write in Allied Title & Escrow as your settlement company!
We’re a quarter of the way through 2021 — we can’t believe it either — and Arlington’s real estate market shows no signs of slowing down.
This past week, a whopping 96 properties were reported sold across the county, including a $3 million six-bedroom home in Bellevue Forest.
Looking at the big picture, as of April 4, there were 583 homes listed for sale in Arlington, according to Homesnap. This includes 404 condos, 133 detached homes and 46 townhomes.
“The median list price is $575,000 and the median sales price is $625,000,” Homesnap reports. “There have been 198 new listings in the last 4 weeks and 263 sales.”
Here’s a look at a few of the properties sold in the past seven days:
- 3616 Roberts Lane — 6 BD/6.5 BA single-family home — $3,000,000
- 1881 N. Nash Street #2309 — 3 BD/3.5 BA condo — $2,580,000
- 2750 N. Nelson Street — 7 BD/7.5 BA single-family home — $2,070,000
- 3021 N. Peary Street — 4 BD/2 BA single-family home — $1,415,000
- 3524 8th Street N. — 3 BD/3 BA single-family home — $980,000
- 1504 N. Scott Street — 3 BD/1.5 BA townhome — $707,000
- 2841 S. Buchanan Street — 3 BD/2 BA condo — $586,400
- 1111 Arlington Blvd #117 — 1 BD/1 BA condo — $135,000