(Updated at 11 a.m.) An athletic club and coworking space totalling more than 100,000 square feet says it will be opening this summer in Clarendon.
Construction on Life Time at 1440 N. Edgewood Street has been underway for some time, following the August 2021 announcement that it was coming to a renovated office building that’s part of The Crossing Clarendon retail center.
Beyer Calls for Clarence Thomas to Resign — From Rep. Don Beyer (D-Va.): “If true, the reported existence of a hidden financial relationship between a conservative donor and a Justice of the U.S. Supreme Court is inexcusable and unacceptable. Justice Thomas should resign.” [Twitter]
Ferguson Running for Another Reelection — “He waited until the coast was clear – no intra-party challenges having materialized by the filing deadline – and on April 12, Clerk of the Circuit Court Paul Ferguson announced his bid for a third eight-year term serving Arlington and Falls Church.” [GazetteLeader]
This regularly scheduled column is written by Eli Tucker, Arlington-based Realtor and Arlington resident. If you would like to work with Eli and his team in Northern Virginia and the greater D.C. Metro area, you can reach him directly at [email protected].
Question: Does the cost of renting a home in Arlington increase at a similar rate as the cost of buying a home in Arlington?
Answer: The cost of renting and buying a detached home increases at a similar rate, but the cost of renting a condo has outpaced the cost of buying a condo.
Condo Rents Rising Faster than Condo Prices
Since 2020, the cost of renting a detached home in Arlington increased at a similar rate as the cost of buying a detached home; 26% and 28%, respectively.
However, the cost of renting a condo increased significantly faster than the cost of buying a condo; 21% and 6%, respectively.
Sale Price to Rental Rate Multiple Shifts with Interest Rates
The table below shows the average price and $/SF of buying a detached home or condo relative to the average annual rent for a detached home or condo, in Arlington. Higher multiples show that buying is becoming more expensive relative to renting.
Takeaway: Condo buyers are more rate sensitive than detached home buyers and are more likely to rent (higher rental demand = strong condo rent appreciation) than buy (weakened purchase demand = low condo value appreciation) when interest rates increase. Notice how quickly the sale price to rental rate multiple drops from 2020/2021 to 2022/2023 (rates skyrocketed spring/summer 2022). (more…)
Good Thursday evening, Arlington. Today we published articles that were read a total of 13394 times… so far.
The following are the most-read articles for today — Apr 13, 2023.
The Rosslyn Farmers Market brings fresh, locally grown food to the heart of the neighborhood on Wednesdays from 2-6 p.m. beginning on May 6. Located at Central Place Plaza (1800 N Lynn St) and operated in partnership with FRESHFARM, this thoughtfully curated mid-week market connects the community with regional farmers and food producers offering seasonal produce, baked goods, ready-to-eat items, and other local essentials.
Just steps from the Rosslyn Metro station, the market is a convenient destination for Arlington residents, commuters, and visitors searching for a farmers market near Washington, D.C. From farm-fresh vegetables to artisanal breads, the Rosslyn Farmers Market makes it easy to restock your pantry or fridge with dinner-ready staples right in the middle of the workweek.
A student at Gunston Middle School was found in possession of two bullets today.
The Thursday morning discovery prompted a call to police amid concern for student safety. However, an investigation ultimately found “no imminent threat to the safety of the school community.”
*Mamistad Groups meet IN PERSON-only the introductory Zoom call is virtual. :)
Pregnancy and new mom groups are a lifesaver when it comes to normalizing those feelings we just can’t be prepared for.
This past week saw 49 homes sold in Arlington.
The least expensive condo, single-family home or townhouse sale over the past seven days was $214,900 while the most expensive was $2,787,500.
(Updated at 4:25 p.m.) Someone broke into a woman’s apartment in Courthouse, went into her bedroom and touched her inappropriately, according to Arlington County police.
The incident happened in the early morning hours of Wednesday, police said. A resident tells ARLnow that it happened at the Courthouse Plaza Apartments, at 2250 Clarendon Blvd.
All three candidates looking to replace Sheriff Beth Arthur, who retired at the end of last year, say they want to end solitary confinement.
This unifying policy position surfaced during a forum hosted by the nonprofit Offender Aid and Restoration last Thursday.
The newest Adoptable Pet of the Week is Leoni!
This girl is looking for a loving home to live out her retirement years in. She is currently in foster through the Animal Welfare League of Arlington.
Empanada eatery Peruvian Brothers is set to return to Arlington this summer.
The fast-casual Peruvian restaurant owned by two brothers is planning to open in the first phase of Amazon’s HQ2 sometime in the summer, co-owner Giuseppe Lanzone told ARLnow. That timeline appears to follow Amazon’s schedule for opening its gleaming new office complex at 1400 S. Eads Street.
