Here in Arlington, real estate is a spectator sport. Let’s take a look at some of the smallest and largest homes sold last month (June 2024).
Largest homes sold
real estate
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.
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.
Some basic stats for this week of sales:
- Average price: $431,846
- Median price: $419,900
- Average days on market: 14 days
- Median days on market: 8 days
For a complete list of sales visit ArlingtonCondo.com Just Sold Condos page.
A Tale of Two Cities
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.
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.
To read more go to A Tale of Two Cities.
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:
- 18 N. Garfield Street, 22201 – NOW: $1,550,000 (Reduced: $45,000 on 7/14)
- 2310 N. Van Buren Court, 22205 – NOW: $1,075,000 (Reduced $25,000 on 7/12)
- 1200 Crystal Drive #1513, 22202 – NOW: $969,000 (Reduced: $30,000 on 7/13)
- 949 S. Rolfe Street #2, 22204 – NOW: $610,000 (Reduced: $15,000 on 7/12)
- 1021 N. Garfield Street #902 – NOW: $500,000 (Reduced: $15,000 on 7/12)
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.
Here in Arlington, real estate is a spectator sport. Let’s take a look at some of the most and least expensive townhouses sold last month (June 2024).
Most expensive townhouses sold
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.
This week’s Just Listed feature:
888 N Quincy Street, Unit 1407, Arlington VA, 22203 — $489,900
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
For a complete list, visit the ArlingtonCondo.com Just Sold Condos page.
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:
- 3512 N Pocomoke Street, 22213 – NOW: $2,475,000 (Reduced: $75,000 on 7/4)
- 2414 N Nottingham Street, 22207 — NOW: 2,250,000 (Reduced $26,000 7/2)
- 2359 N Lincoln Street, 22207 – NOW: $1,999,999 (Reduced: $150,000 on 7/1)
- 1516 N Colonial Terrace, 22209 – NOW: $1,465,000 (Reduced: $25,000 on 7/6)
- 1 N Madison Street, 22203 – NOW: $925,000 (Reduced: $70,000 on 7/5)
- 1830 Columbia Pike #605, 22204 – NOW: $350,000 (Reduced: $5,000 on 7/5)
- 1300 S Arlington Ridge Road, #203, 22202 – NOW: $249,000 (Reduced: $7,000 on 7/5)
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.
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Here in Arlington, real estate is a spectator sport. Let’s take a look at some of the most and least expensive condos sold last month (June 2024).
Most expensive condos sold
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 1, there are 129 detached homes, 38 townhouses and 137 condos for sale throughout Arlington County. In total, 34 homes experienced a price reduction in the past week, including:
- 5214 11th Street N., 22205 – NOW: $1,849,000 (Reduced: $50,000 on 6/28)
- 18 N. Garfield Street, 22201 – NOW: $1,595,000 (Reduced: $104,000 on 6/30)
- 1932 N. Daniel Street, 22201 – NOW: $1,124,900 (Reduced: $24,000 on 6/29)
- 2509 S. Kenwood Street, 22206 – NOW: $925,000 (Reduced: $25,000 on 6/28)
- 3705 3rd Street S., 22204 – NOW: $735,000 (Reduced: $20,000 on 6/28)
- 3507 22nd Street S., 22204 – NOW: $625,000 (Reduced: $25,000 on 6/29)
- 5353 Columbia Pike #502, 22204 – NOW: $330,000 (Reduced: $15,000 on 6/28)
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.
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A Donaldson Run house steps from Marymount University has captured the attention of a popular, real estate-focused social media account.
Zillow Gone Wild — which has 4.3 million followers across multiple social platforms — posted about the four-story home at 4605 26th Street N., showcasing its personal movie theater, extensive bar area and more.
Here in Arlington, real estate is a spectator sport. Let’s take a look at some of the most and least expensive single-family homes sold last month (June 2024).
Most expensive single-family homes sold