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 July 29, there are 130 detached homes, 33 townhouses and 149 condos for sale throughout Arlington County. In total, 20 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.
Just Listed highlights Arlington properties that just came on the market. This biweekly feature is written and sponsored by Coral Gundlach Homes.
Hello Arlington!
Coral Gundlach here with Coral Gundlach Homes at Compass in Arlington. I’ve been an Arlington homeowner since 2001 and a Realtor since 2004. I love this real estate market, even though it has its challenges.
The numbers this week are bucking the trend from the last few weeks. Pretty drastic new listing numbers this week (51 vs 74). The timing of this article is a little earlier, so that could show that a few more pop up today, but that is a fairly big drop, as new listings typically come out on Thursdays.
A few things could be to blame: summertime and people are on vacation. Dramatic couple of weeks in presidential politics could have people feeling more cautious. Rates dipped also so I imagine these properties, if priced and prepped well, should sell quickly.
Here are the numbers as of the time of writing: Friday, July 26 at 10:30 a.m.
All active listings in Arlington: 302 (up from 291 two weeks ago)
New Listings in the past week: 51 (down from 74 two weeks ago)
Under Contract/Pending in last week: 36 (up from 35 two weeks ago)
All active detached listings: 121 (up from 113 two weeks ago)
New active detached listings: 17 (barely up from from 16 two weeks ago)
All active townhouses, fee simple: 26 (down from 41 two weeks ago)
New active townhouses, fee simple: 5 (down from 11 two weeks ago)
All active condos/co-ops: 148 (down from from 149 two weeks ago)
New active condos/co-ops: 29 (down from 32 two weeks ago)
The average cumulative days on market (CDOM) for both Active Under Contract and Pending sales went down to 34 from 41 two weeks ago. CDOM includes homes that were withdrawn and re-listed. Homes that went straight to Pending (meaning no contingencies) averaged 50 CDOM, up from 36 CDOM two weeks ago, and those that went Active Under Contract (with contingencies ) had an average of 20 up from 41 CDOM.
These numbers are odd, as typically houses that go straight to pending have fewer days on market. However since they are averages, one extreme example can skew the numbers. In this case there was a new build for $3.5 million with 433 CDOM that went straight to pending. That is typical with new construction and throws these numbers off. If I remove that house, the average CDOM for Pending in the past two weeks is 25.
Since today’s numbers are all over the place, I will cover a new data set to explore buyer activity. Showing time tracks showings on listings and compares them to the last week and the same week last year. These stats are from the week ending July 21.
For Arlington county, there were 665 showings scheduled compared to 873 one year ago in the same week, and 698 the last week. That shows that buyer activity is down also. Dare I say there is an opportunity for buyers right now? With the years of brutal bidding wars in Arlington, these rare moments that don’t appear to have a complete sellers’ advantage, can seem unreal.
Thirty-eight total properties closed in the last week, of those, the CDOM was 29, and the average original list price to sales price ratio was 99.7% and the average current list price to sales price ratio was 100.9%.
Contact Coral Gundlach Homes today at (703) 200-3631 or email [email protected] to talk more about buying or selling Arlington real estate.
Today’s featured listing is a glamorous condo in Rosslyn’s sought after The Waterview. It is listed by Brittany Camacho of Century 21 Redwood Realty — 1111 19th Street N #2703, Arlington, VA 22209. It is a stunning 2 bedroom, 2.5 bath unit with floor to ceiling windows, and Monument and Potomac river views from all rooms. Built in 2008, this nearly 1,500 square foot home has high ceilings, luxury finishes such as new hardwood floors, custom built walk in closets, new lighting and high end appliances such as Sub Zero Refrigerator, Viking range, Miele dishwasher.
It also has two reserved garage parking spaces as well. The building does allow pets up to 80 lbs and a limit of 2 per unit. It has a monthly fee of $1,784 that includes gas, water, sewer, trash and amenities such as a fitness center, party room and concierge. It is offered at $1,450,000 and is open this Saturday and Sunday, 11 a.m.-2 p.m.
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, July 15 to July 21, we had 24 condos that went to settlement — the exact same number as the week before. The sold prices ranged from $191,000 to $887,000 with a median price of $420,000.
What can you get for the median price of $420,000? Here were several that sold:
Located just off of Columbia Pike, this 2 BR/2 BA at 3842 9th Road S at Dundree Knoll condo listed and sold for $410,000 after 22 days on the market. It has renovations throughout and has french doors that open to a large deck.
A 2 BR/1 BA at Cambridge Courts, 2703 Arlington Blvd #202, only lasted 5 days on the market. It listed for $415,000 and sold for $420,000. This top level condo has vaulted ceilings in the living room making it feel much larger than 781 square feet.
If amenities are more important than size, this 1 BR/1 BA at the Continental in Ballston, 851 N Glebe Road #1202, sold for $425,000. Amenities at the Continental include a 24×7 front desk, theatre room, party room, fitness center, rooftop pool, and an awesome rooftop with gas grills and fire pits.
Are you planning on moving and are mulling over the big decision of whether to keep your current place and rent it out or to sell it and be done with it? For most people the answer is easy as they have to sell it to be able to buy the next place. For those in the position of not having to sell, the question is should you? In this post I’ll give you a few questions to ponder and a short cash flow calculator to give you a clearer picture of the costs involved.
Real Estate Investing
First, let me start out by saying I’m a huge advocate of investing in real estate. More wealth is created through real estate than any other form of investing. A few reasons why people invest in real estate include: cash flow, inflation hedge, leverage, appreciation, forced equity, depreciation, and tax advantages. I won’t get into all of these here but if you want to learn about real estate investing, my go to source is the Bigger Pockets podcast and website.
Real estate is a great investment vehicle, but it doesn’t mean every property is a good investment and nor does everyone want to be a landlord.
Will You Ever Move Back Into the Property?
Washington, D.C. is a very transient town where people move and move back all the time. If you are moving out of the area, ask yourself will you ever move back to the area and would you realistically move back into the property? If the answer is yes and yes, then it might make sense to rent out the property for a while. But be real, how likely are you to move back into the property and do you want to?
Do You Want to be a Landlord?
Another good question to ask yourself is whether you want to be a landlord. Real estate investing can be a mostly passive investment, but it does require some oversight and involvement. And of course filing your taxes will be a little more complicated.
Do You Want to be a Property Manager?
Being a landlord doesn’t automatically make you a property manager as you can hire someone to manage the property for you. Remember though, every property has a property manager. If you don’t hire a property manager, you are the property manager.
Do you want to deal with tenant complaints? Can you deal with a plumbing problem in the middle of the night? Do you know how to evict a tenant? It only takes one bad tenant to turn a new real estate investor into a never again investor.
Does it Cash Flow?
Many people think “if I can rent it for X and my mortgage is Y, then my cash flow is X-Y”. That simplistic formula is what gets many newbies in trouble. There are a number of other costs to factor into the equation. To see the full list of expenses to consider and a quick cash flow calculator, visit:
Please note: While ArlingtonCondo.com provides this information for the community, they may not be the listing agent of these homes. Equal Housing Opportunity.
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 July 22, there are 136 detached homes, 35 townhouses and 145 condos for sale throughout Arlington County. In total, 25 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.
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 more normal week for condo sales after the shortened Fourth of July holiday. There were 24 sales during the week of July 8 to July 14.
There was one unit that closed over $1 million and that was at Rhodes Hill Square, 1418 N Rhodes Street #B126. Rhodes Hill Square markets itself as ‘city town homes’. The center building at Rhodes Hill Square is four stories with two, 2 level units stacked on top of each other. Most of the lower units include a patio while the benefit of the upper units are a private rooftop terrace.
Rhodes Hill Square
Two units sold at River Place — one of only two cooperatives in Arlington. River Place is unique in that the cooperative does not own the land the buildings sit on. The land lease is for 50 years and is set to expire in 2052. What happens then? That is the answer everyone wants to know.
People often ask me how the condo market in Arlington compares to the condo market in D.C. Both are dense, urban areas that have a shared history.
Arlington was part of the original ten-mile square surveyed in 1791 for the Nation’s Capital. In 1847, at the request of the local residents, Congress retroceded Arlington to the Commonwealth of Virginia.
The Potomac River separates the two geographic areas but there is much more that separates the two markets. When comparing two markets, a few market stats I first look at are days on market (DOM), pricing ratios, and inventory levels. Let’s see how the two compare. I can hear some of you saying ‘but Arlington is a County not a city’. That is technically true, but stay with me here.
Days on Market
One key factor for any real estate market is how long properties stay on the market before being sold. This metric can indicate demand and the overall health of the market.
A detailed analysis of DOM can therefore provide insight into market trends. A decreasing DOM over time typically suggests a hot market with increasing demand and possibly rising prices. On the other hand, an increasing DOM might signal a cooling market, where properties take longer to sell perhaps due to economic factors, oversupply, or shifting buyer preferences. Monitoring DOM closely can help both buyers and sellers make informed decisions — buyers can gauge how aggressive they need to be in their offers, while sellers can set competitive prices to ensure faster sales.
Avg. Days on Market
In Arlington, condos typically spend around 20 days on the market before being sold. This relatively quick turnover suggests a strong demand and a competitive market.
In contrast, condos in Washington, D.C. have an average of 45 days on the market. For all of 2024 so far, condos in D.C. have consistently stayed on the market than compared to condos in Arlington.
Sale Price to Original Price Ratio
The sale price to original list price ratio, which takes into account any price reductions before the final sale. This ratio can provide additional context on how realistic initial price expectations are and how they align with market conditions as the listing goes through its lifecycle. This ratio serves as a marker for market competitiveness and seller pricing strategies. A high ratio suggests that the market is competitive, with buyers less likely to negotiate prices down significantly, often a sign of high demand and limited supply. For example, a market with a lower sale price to original list price ratio might suggest that initial pricing was overly ambitious or that market conditions have softened.
Please note: While ArlingtonCondo.com provides this information for the community, they may not be the listing agent of these homes. Equal Housing Opportunity.
Arlington County is eyeing a $1.1 million real estate purchase to expand Douglas Park.
Buying and deconstructing a home for sale at 4030 16th Street S. — listed in the Public Spaces Master Plan as a priority expansion site for Douglas Park — would add a S. Randolph Street entrance to the five-acre recreation area south of Columbia Pike. The property has a total footprint of 13,346 square feet, or about 0.31 acres, according to a county report.
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 July 15, there are 130 detached homes, 39 townhouses and 154 condos for sale throughout Arlington County. In total, 30 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.
Just Listed highlights Arlington properties that just came on the market. This biweekly feature is written and sponsored by Coral Gundlach Homes.
Hello Arlington!
Coral Gundlach here with Coral Gundlach Homes at Compass in Arlington. I’ve been an Arlington homeowner since 2001 and a Realtor since 2004. I love this real estate market, even though it has its challenges.
The numbers this week are starting to show a trend. We have increases in inventory in all segments. Fourteen more new listings than two weeks ago and the Under Contract/Pending listings are down to 35 from 46 two weeks ago. That is showing a general softening of the market. There are always exceptions, but these numbers should give frustrated buyers some hope and make sellers think twice about how to price their new listings.
Here are the numbers as of the time of writing: Friday, July 12 at 11:15 a.m.
All active listings in Arlington: 301 (up from 291 two weeks ago)
New listings in the past week: 74 (up from 60 two weeks ago)
Under Contract/Pending in last week: 35 (down from 46 two weeks ago)
All active detached listings: 113 (barely down from 114 two weeks ago)
New active detached listings: 30 (way up from from 16 two weeks ago)
All active townhouses, fee simple: 41 (up from 32 two weeks ago)
New active townhouses, fee simple: 11 (up from 10 two weeks ago)
All active condos/co-ops: 149 (up from from 139 two weeks ago)
New active condos/co-ops: 32 (up from 31 two weeks ago)
The average cumulative days on market (CDOM) for both Active Under Contract and Pending sales went up to 41 from 29 two weeks ago. CDOM includes homes that were withdrawn and re-listed. Homes that went straight to Pending (meaning no contingencies) averaged 36 CDOM, up significantly from 12 CDOM two weeks ago, and those that went Active Under Contract (with contingencies ) had an average of 44 up a little from 41 CDOM.
Thirteen detached homes closed in the last week, compared to 18 two weeks ago.
Average CDOM for the closed homes was 26 compared to 44 two weeks ago and they sold for an average of 98.2% of original asking price compared to 98.9% of original asking price two weeks ago, and 99.3% of current asking price compared to 101.9% of current asking price two weeks ago.
As far as trends go, even though the CDOM is lower for sold homes than two weeks ago, the average list price to sales price ratio is down again. Not a lot, but it is something to keep tracking to see if this market keeps tilting ever so slightly to the buyers’ favor.
Contact Coral Gundlach Homes today at (703) 200-3631 or email [email protected] to talk more about buying or selling Arlington real estate.
Today’s featured listing is a sunny and affordable one bedroom in the popular Residences at Liberty Center in the heart of Ballston, 888 N Quincy Street, Unit 1407,listed for $489,000 by Shawn Battle and Matt Leighton of Real Broker.
It has fabulous Ballston city views from the 14th floor and features significant updates such as a new HVAC, appliances, water heater all between 2022-2024. It also has hardwoods, balcony and a dedicated parking spot, in unit laundry — pretty much all the condo living must haves. Monthly fees are $521 and there is a one time capital contribution of $1,042. The fees pay for water and trash, and amenities like a security, gym, party room and rooftop pool. This is all walking distance to shops, dining and Metro. It is open Saturday, July 13 from 1-3 p.m.
Want to see more Just Listed properties? Interested in an Open House this weekend? We’re happy to show them to you privately! Click here or contact Coral Gundlach Homes.
Please note: While Coral Gundlach Homes provides this information for the community, they may not be the listing agents of these homes. Equal Housing Opportunity.
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
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.
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 July 8, there are 126 detached homes, 34 townhouses and 137 condos for sale throughout Arlington County. In total, 19 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.
