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.
As of September 2, there are 110 detached homes, 31 townhouses, and 148 condos for sale throughout Arlington County. In total, 16 homes experienced a price reduction in the past week, including:
Please note that 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 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 Eli@EliResidential.com.
Eli and his team believe that your real estate needs should be managed by advisors, not salespeople. Their mission is to guide, educate, and advocate for their clients through real advice, hands-on support, and personalized service.
You’ve seen the headlines and likely read a range of varying/conflicting information about the new laws affecting buyers and buyer agent commission. I will spend time discussing the new laws and answering your questions at our Ask Eli Home Buyer Workshop next week at the Arlington Central Library on Wednesday, September 11. Food and drinks will be provided!
The workshop is a free and will cover:
New laws affecting buyer agent representation and commission
How to use data and strategy to maximize your home purchase
How to use market trends to your advantage
The latest on interest rates and mortgage programs/products
Common mistakes to avoid and some tips for success
Who is it for?
Anyone curious about the agent commission changes and how they could impact you
Any buyer type from first-time buyer to experienced buyers
Ready to purchase now or planning 18-24 months out
Home buyers in Northern VA, DC, or the Maryland Suburbs
You or anybody you know who would benefit
Where and When?
Wednesday September 11 from 6-7:30 p.m.
Arlington Central Library (1015 N Quincy Street), Bluemont Room
Registration is now open, and space is limited. Click the graphic below to RSVP. Bring your appetite and your home buying questions! I’d love to see you there. Feel free to email me at [email protected] with any questions about the event.
Home Buyer Workshop
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 discuss buying, selling, renting, or investing, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at 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.
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 19-25, we had 30 condos and co-ops that went to settlement, ranging in price from $144,000 for a studio at River Place to $1,550,000 for a 3 BR/2 BA unit at Memorial Overlook. The median price was $516,500 and the median days on the market were 13 days.
How are buyers paying for their condos and co-ops? Well, the vast majority of the buyers used conventional financing (21 out of 30) and the number two method was cash, which was used in 7 out of the 30 deals that closed. Show me the money!
Money
Year to date so far shows 828 condo and co-op sales in Arlington. What was the financing breakdown?
This sponsored column is by Law Office of James Montana PLLC. All questions about it should be directed to James Montana, Esq. and Janice Chen, Esq., practicing attorneys at The Law Office of James Montana PLLC, an immigration-focused law firm located in Falls Church, Virginia. The legal information given here is general in nature. If you want legal advice, contact us for an appointment.
On August 19th, the Parole in Place program opened. On August 23rd, ten states filed a lawsuit against the Department of Homeland Security, seeking an injunction to freeze the program and a declaratory judgment that the program is unlawful.
On August 26th, the federal judiciary issued its first reply to the litigants: an administrative stay. The purpose of this advertorial is threefold: First, we’ll explain how this stay will affect current and future Parole in Place applicants; second, we’ll explain the nature of the administrative stay; and third, we’ll offer some guarded predictions about the future of the Parole in Place program.
As a reminder, the Parole in Place program had a particular, and technical, purpose: allowing spouses of U.S. citizens who have been in the country for more than ten years to be ‘admitted’ for immigration purposes without departing the country. (For additional background on program and its eligibility requirements, see our handy ARLnow explainer, here.)
If approved, beneficiaries of the parole in place program would be eligible for work authorization, and, in many cases, to apply for green cards.
The gavel went “thwack!” in between Statutes of Liberty’s publication dates.
The Federal Judge in this case is J. Campbell Barker of the Eastern District of Texas, Tyler Division. Judge Barker was nominated to the bench by President Trump, and is known as a conservative jurist, but it would be wrong to describe him as unqualified or as an ideological pick; Judge Barker graduated first in his class from the University of the Texas School of Law, clerked both at the Federal Circuit and Second Circuit Courts of Appeal, and served as a prosecutor in the Eastern District of Virginia.
With all of that said, it is no accident that the plaintiffs have their case before Judge Barker — it’s a matter of geographic gamesmanship. Federal litigation is assigned randomly to a judge who sits within the filing district. There are just two judges who sit in the Tyler, Texas district — Judge J. Campbell Barker, and Judge Jeremy Kernodle, also a Trump appointee of a similar age and a similar political background. The plaintiffs doubtless filed there because they believed, rightly or wrongly, that they would receive a sympathetic hearing.
In a rapidly written opinion, Judge Barker stayed the Parole in Place program for fourteen days. He set an extremely rapid schedule for motions practice — which we’ll excerpt, here, for the benefit of any litigators in the audience:
August 28, 2024 — Deadline to file any motions related to venue or forum.
August 30, 2024 — Deadline to respond to any such motion.
September 2, 2024 — Deadline to reply on any such motion.
(August 30th is a Friday and September 2nd is a Monday. Enjoy your weekend, litigators!)
Judge Barker’s opinion also dispenses with initial disclosures and most fact discovery in the interest of speeding the course of decision-making, an indication that he wants to come to a decision pretty quickly on the merits of the case.
We predict that Judge Barker will issue a preliminary injunction that preserves the main features of the administrative stay — new Parole in Place applications can be accepted, but no Parole in Place applications may be approved while the injunction is in place. The litigation will then continue through the summary judgment stage, which might — might! — be concluded as soon as late October 2024, just in time for the election.
What does this mean for Parole in Place applicants? Practically speaking, it means that, for Parole in Place to be granted to any applicant who doesn’t have it now, two conditions must obtain:
Vice-President Harris must prevail in the Presidential election contest. If President Trump is re-elected, he will immediately revoke the Parole in Place program, deny pending applications as moot, and cease to defend the legality of the program in court.
The Biden (and, later, the Harris) Administration must prevail in what will likely be protracted federal litigation. Judge Barker’s stay is just the first shot in what is likely to be a long process, not dissimilar to the DACA litigation — and that eventually made it to the desk of Chief Justice Roberts.
Should those who are eligible still apply, given that the application window remains open but that no applications can currently be approved — and that the above two conditions will have to obtain for any approvals to be issued?
We think the answer depends on your particular situation. Applicants who stand to benefit from parole in place with little downside risk should probably apply. Those who might be a priority for deportation in a future administration should probably hesitate to do so — giving the government your full contact information and admitting, under penalty of perjury, that you entered the United States without inspection isn’t the best way to start removal proceedings.
As always, we are grateful for your questions and comments, and will do our best to respond.
This vibrant corridor is more than just a road; it’s the beating heart of Arlington, where the world comes together in a single zip code. With its rich blend of cultures, local flavor and community spirit, Columbia Pike is the go-to destination for your shopping, dining, wellness and entertainment needs.
While construction may cause some temporary inconveniences, the businesses on Columbia Pike promise that your visit will be worth it. They need your support, and they’re ready to welcome you with open arms and provide an excellent experience. So, take a little extra time to catch the bus, hop on your bike or find that parking space and explore on foot — your favorite spots (and the favorites you have yet to discover) are still open and waiting for you.
Take Sabores, for example. There, Latin America’s rich, aromatic flavors will transport you straight to the streets of Lima or Mexico City. Craving something different? Swing by Bangkok 54 for authentic Thai cuisine that will make your taste buds dance, or visit Bob & Edith’s Diner, an Arlington institution serving classic American comfort food 24/7.
But Columbia Pike is more than just a place to shop or dine — it’s where the community comes alive, which is why the County has updated its Small Business Directory, making it easier for residents and visitors alike to discover the many hidden gems that define Columbia Pike.
If you take a moment to explore the directory, you’ll discover that Eye See Optique offers personalized vision care with a touch of modern flair, while Columbia Pike Deli provides a welcoming spot for grabbing a quick bite or picking up some international treats for the family. You’ll also find out that Mancini de Paris offers luxurious salon services and Evolve2fit ensures you can stay on top of your fitness game in a supportive and friendly environment. There is something on the Pike for everyone!
It’s obvious that one visit to the Pike has the potential to yield unparalleled experiences, but what might not be as obvious is how rewarding visits to the Pike can be. BizLaunch and the Columbia Pike Partnership have rolled out a suite of initiatives designed to keep doors open and customers coming back for businesses. The Open Rewards program is at the heart of these efforts, offering a 5% reward to customers who shop locally.
Enroll today by downloading the Open Rewards app on your smartphones and earn credits every time you support participating local businesses. Business owners who own a personal service, restaurant or retail business in Arlington are automatically enrolled in this program by the County. Other Arlington-based businesses can join for free as well, ensuring no one is left out of this community-focused initiative.
Whether you’re a long-time resident or visiting from beyond Arlington’s borders, Columbia Pike is where you’ll find global experiences right in your backyard. With ample parking (street, garage and private lot), easy access via public transportation and a welcoming atmosphere, Columbia Pike is open to and for you.
We know it can be difficult to get around at times, but it’s worth the trip, even during construction. And the construction is only temporary. Just look at the transformation of the west end of Columbia Pike, where construction is now complete, to see the beautiful changes that are coming to the rest of the corridor. The improved streetscapes, safer crosswalks and enhanced public spaces are just a glimpse of what’s in store for the entire Pike.
In the meantime, however, to easily navigate to your destination, check out the resources listed above as well as the most recent construction projects at Columbia Pike Forward. And remember, if you are a business on the Pike, Arlington County is here to help you navigate these changes and continue to serve this incredible community.
Columbia Pike is open for business, and we can’t wait to see you there! Will you join us?
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.
As of August 26, there are 119 detached homes, 30 townhouses, and 138 condos for sale throughout Arlington County. In total, 22 homes experienced a price reduction in the past week, including:
Please note that 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 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 DC Metro area, you can reach him directly at Eli@EliResidential.com.
Eli and his team believe that your real estate needs should be managed by advisors, not salespeople. Their mission is to guide, educate, and advocate for their clients through real advice, hands-on support, and personalized service.
Question: What do my six-year-old son and I have in common?
Answer: Yesterday was our first day of school!
Yesterday at 8:30 a.m., Jackson climbed aboard the bus for his first day of 1st grade at Barcroft Elementary and yesterday at 4 p.m. I walked through the doors of George Mason’s Arlington Campus for my first day of class for my Master’s in Real Estate Development!
First Day
I’m still planning to be a local real estate agent for Arlington and the surrounding Northern Virginia/D.C. Metro communities (and your weekly ARLnow real estate columnist!), but I’ve always wanted to expand and deepen my real estate knowledge and the George Mason MRED offers a fantastic master’s program for regional residential and commercial real estate. I’m excited to broaden and deepen the range of topics I write about in my weekly Ask Eli column and for the new expertise and services I’ll be able to offer clients.
It’s been 15+ years since I graduated from the University of Maryland and took my last test, so wish me luck in getting back into the habit of homework assignments, group projects, and pop quizzes!
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 discuss buying, selling, renting, or investing, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at 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 Arlington Civitan Open Air Market advertises itself as “a lovely open-air flea market with the best finds.” But it’s also a place that brings people together in the community while also serving the community.
I spoke with Patricia Koepsel, a long-time coordinator of the Arlington Civitan market, about how the event came to be. This is personal to me because I’ve been one of the thousands of Arlington residents who make an annual trek to the Civitan’s flea market to find a new life for old things from my home, earning a little money and making new friends along the way.
The market was founded in 1986 as a collaboration between Arlington County and the Civitans as a way to reduce congestion on narrow streets caused by neighborhood yard sales. Originally, the market charged buyers a quarter to enter the market, and it quickly became a popular gathering spot on the first Saturday of the month from April to November.
The recent pandemic hit the flea market hard, shutting down to the public for two years. It didn’t help that VDOT work in the garage and inclement weekend weather has complicated logistics this year, but Koepsel said each month they continue to grow their foot traffic.
More than 200 vendors — Koepsel said it’s a 50-50 mix of professional sellers and local folks clearing out their homes of unneeded items — arrive overnight Friday or during Saturday’s pre-dawn hours to set up in the multi-level garage adjacent to Washington-Liberty High School and the Arlington Planetarium. Sellers pay $20 for each parking spot they use as their “sales booth” (about 9’ x 18’) and the sale officially runs from 7 a.m. to 1 p.m., although it’s not unusual to see bargain hunters out with flashlights as sellers are unpacking and setting up, like little Arlingtonian Jawas on a scavenger mission.
“Anything you want, somebody will have,” assured Koepsel, and that’s precisely what keeps shoppers flocking back month after month. For example, just last month a vendor showed up with loads of farm equipment, something Koepsel said she hadn’t seen before.
My very first visit to the Civitan sale in 1999 ensured I would be back for more in the decades to come. It was a beautiful spring Saturday and my friend and I were selling things we’d cleaned out of our closets. We were late to set-up so decided that rather than unloading into the space, we’d just park her husband’s very vintage and beat-up truck and sell from there. We were a real-life Sanford & Sons! One shopper took a liking to one particular item and asked, “Do you have this in anything smaller?” My friend cocked her head, smiled and said, “Honey, this ain’t Macy’s. We’re selling things out of the back of a truck!” At that moment, we all burst into laughter, and it remains one of my favorite memories of the market.
Every dollar made at the Arlington Flea Market — from the rental spaces to refreshment sales — goes to support the causes espoused by the Arlington Civitans. Koepsel said the organization serves many different 501C(3) and non-profit organizations, including several that support people with intellectual and developmental challenges. Some of those local groups benefiting from the Civitan’s work include SPARC (Specially Adapted Resource Clubs), Community Residences Inc., and the Virginia Special Olympics.
Koepsel shared a story about one vendor who made sure the Civitans and their network were the beneficiaries of his hard work. This vendor had been selling at the flea market almost since its inception, and when he passed away in 2021, his family returned to the market and took up the 3-4 spaces that he’d normally use. The family sold his items or gave them away to other vendors, and donated the money raised to the ENDependence Center of Northern Virginia (ECNV), one of the organizations supported by the Civitan market’s proceeds. ECNV was able to buy new printer equipment with the $500 raised and the group proudly hangs a plaque honoring his donation.
“It was a really good deal of money for us, especially coming from an individual,” said Tim Fuchs, Deputy Executive Director of ECNV. “We also really appreciate the gesture from his family because it enables us to provide additional services to the people of Northern Virginia.”
Since its establishment in 1917 in Alabama, Civitan clubs can now be found around the world as a way to “seek out and fulfill community needs.” To learn more about getting involved with the group or to participate in the monthly market, visit Arlington-FleaMarket.com… and bring a shopping cart or two when you visit!
For 40 years, McEnearney Associates has been a premiere residential, commercial and property management firm with 11 offices located in the Washington metro region. With service excellence, hyper-local expertise, powerful data insights, innovative technology and cutting-edge marketing, McEnearney Associates have helped their clients make informed decisions on their most valuable real estate investments. There is an important difference at McEnearney: It’s not about us, it’s about you. To learn more, visit us at www.McEnearney.com.
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.
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.
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.
New Listings
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.
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.
We’ve all heard the warnings: Don’t pour grease down the drain… don’t put batteries in the trash… But where do these items really belong? The Arlington Art Truck’s fall installation, “Let It FLOW!” by artist Scott Pennington, turns a classic bean bag toss into an educational experience, showing you the right way to dispose of common household waste.
This interactive art piece mimics carnival games, inviting participants to toss bean bags with images of cotton swabs, food scraps, cat litter, cigarette butts, “flushable” wipes, dental floss and more into the appropriate disposal bin — whether it’s the sink, toilet, trash can or food scraps collection bin.
Designed for two to three players, this activity teaches participants how household waste can affect Arlington’s wastewater systems and how they can help prevent clogs and damage.
The Water Pollution Control Plant, the project’s community partner, will have representatives at Arlington Art Truck locations to educate residents on protecting our wastewater infrastructure and environment. They will also discuss upcoming plant upgrades and inform residents about food scrap drop-off sites, including 4300 29th Street South, Columbia Pike Farmer’s Market, and seven new on-street collection points for multi-family residents.
Launched in 2018 with support from the National Endowment for the Arts, the Arlington Art Truck was a finalist for Americans for the Arts’ 2019 Gard Award for Arts and Community Life. This innovative mobile art venue blurs the line between participant and presenter, featuring digital and traditional creative tools and hosting three artists-in-residence from April through November.
About the Artist: Scott Pennington is a Baltimore-based artist known for his large-scale participatory installations and sculptural assemblages. With a background in furniture and cabinetmaking, Pennington crafts intricate, vibrant works that engage diverse audiences and enliven public spaces. His art often explores themes of labor, consumer culture, and the pursuit of simple pleasures, creating connections that are both nostalgic and thought-provoking.
About the Community Partner: The Water Pollution Control Plant, located in South Arlington, treats 23 million gallons of wastewater daily from local residences and businesses. Its mission is to process wastewater safely and efficiently, protecting the environment, especially the Four-Mile Run, the Potomac River and the Chesapeake Bay. Future upgrades will focus on enhancing solids handling, resource recovery, and reducing Arlington’s reliance on fossil fuels.
“Let It FLOW!” debuted at the Arlington County Fair earlier this month and runs through October 26, 2024. Upcoming Arlington Art Truck activations include:
Rosslyn Jazz Fest: Saturday, September 7, 1-7 p.m., Gateway Park (1300 Langston Boulevard)
Rock ‘n’ Recycle: Saturday, September 14, 1 p.m., Trades Center (4300 29th Street South)
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.
As of August 19, there are 118 detached homes, 32 townhouses, and 152 condos for sale throughout Arlington County. In total, 18 homes experienced a price reduction in the past week, including:
Please note that 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 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 DC Metro area, you can reach him directly at Eli@EliResidential.com.
Eli and his team believe that your real estate needs should be managed by advisors, not salespeople. Their mission is to guide, educate, and advocate for their clients through real advice, hands-on support, and personalized service.
Question: How has the rental market performed so far in 2024?
Answer:
Rent vs Buy — Nowhere to Hide
The unfortunate truth these days is that if you need housing, there’s nowhere to find safety. Prices on single-family homes and condos are up significantly, higher interest rates have pushed monthly payments to uncomfortable levels, and, as you’ll see below, the rental market is competitive and expensive.
Over the past five years, the average rent price in Arlington is up 21.6% across all property types and 27.1% for single-family home rentals. So far in 2024, about half of homes listed for rent are rented within the first ten days on market and tenants have little room for negotiation, with the average property renting for just .2% less than the original asking price. Properties that are rented within the first ten days on market (about half) are going for an average of 1.4% above the asking price.
About the Data
The data below is rental data from the MLS in Arlington over the last five years. Note that very few commercial apartment buildings list in the MLS so this data is limited to non-commercially owned rentals (for apartments, that is mostly individually owned condos).
Further, it’s difficult to say what percentage of non-commercially owned properties go through the MLS for rent but I would guess that it’s about half of rented apartments (condos), but likely a majority if detached and townhouse properties. Despite the limited data set, we still have more than enough information available through the MLS to generate outputs that represent the true rental market.
Highlights and Data Table
Here are some highlights from the data table (keep in mind that 2020-2023 includes 12 months of data, but 2024 is just 7.5 months of data):
The average rent for an apartment (condo) is up 3.1% this year compared to last and the average rent for a single-family home and a townhouse/duplex is up 8.7% and 6.2%, respectively
Average rental prices in Arlington are up 21.6% over the past five years
The average rent price of an apartment (condo) has increased 17% in the past five years, a bit higher than the 14.3% increase to the average cost of buying a condo during that same period
The average rent price of a single-family home has increased 27.1% in the past five years, a bit higher than the 24.9% increase to the average cost of buying a single-family home during that same period
The 2024 rental market, across all property types, has been more competitive than it’s been during any other year going back to 2020, with properties renting at prices closer (or above) to the original asking price and properties accepting a tenant faster than any previous years. Note that these numbers might drop to be more in line with previous years once the slower months of 2024 (fall/holidays) are included.
Roughly 50% of properties accept a tenant within ten days of being listed for rent
Rental Chart
For further questions about the Northern Virginia rental market, Eli Residential Group’s rental specialist, Carolanne Korolowicz is available at [email protected].
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 discuss buying, selling, renting, or investing, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at 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.
