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.

Summer is in full swing. In case you missed it, Sunday, June 20, marked the first day of the summer season, which will last through September 22.

In the real estate world, summer is always an exciting time of year. Why, you ask?

Well, for many families, now is the prime opportunity to search for and — if all goes well — land in a new home before the next school year begins. Adding to that summer sprint, some families have a home to sell, too, to make it all happen financially and logistically.

On behalf of our clients, we’ve run the summer sprint many times throughout the years. To keep things moving along and to hit your deadlines, you need a trusted team on your side to navigate the expected and unexpected.

If and when that time comes, the team at Arlington Realty, Inc. is here for you. Until then, here is to a happy summer and here are the latest Just Reduced figures:

As of June 20, there are 149 detached homes, 61 townhouses and 370 condos for sale throughout Arlington County. In total, 56 homes experienced a price reduction in the past week, including:

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.

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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. Video summaries of some articles can be found on YouTube on the Ask Eli, Live With Jean playlist. Enjoy!

Question: Have you noticed a change in the real estate market lately?

Answer:

Summer Slowdown is Normal, Likely More Pronounced in 2021

It is normal for the real estate market to slow down as we transition from the intensity of the spring market into the summer market and we (myself, my colleagues and lenders I’ve spoken to) have seen that shift over the past few weeks.

I don’t think we are anywhere close to experiencing a market correction, but I do think the change in market conditions from the spring market (which really began in January/February 2021) to the summer market will be more pronounced this year because of COVID.

Buyers More Distracted by Travel/Events

Now that most of our buying population is vaccinated and businesses/events are open, buyers’ attention is finally being focused on trips, events, and visiting friends and family rather than solely on their home search. Diversions are usually highest in the summer and around the holidays, thus historically slower markets, but this summer and holiday season will be met with an unusually high number of distractions for buyers. (That’s a good thing!)

Asking Prices Catching Up

Another factor in the shift in this summer’s market is that asking prices are finally starting to catch up, in many cases, to actual market values. During the first 3-4+ months of 2021, the sales data (sold prices) wasn’t there or wasn’t enough to give sellers the confidence to increase their asking prices 5-10%+ over 2019-2020 prices, which is why we’ve seen such extreme price escalations this year. Now that asking prices are falling more in line with what the market is willing to pay (based on my experience over the past 4-8 weeks), the number of offers and wild escalations should subside.

What Likely Will/Will Not Happen

Homeowners planning to sell should not worry that the bottom is falling out of the market, but expectations should change compared to previous months. Here’s what I think the shift will and will not look like:

  • WILL result in fewer total offers on competitive homes
  • WILL result in fewer properties selling within the first week
  • WILL result in buyers negotiating better/more contingencies
  • WILL result in less extreme price escalations
  • WILL result in fewer homes listed for sale (likely a 20-30% drop compared to March-May)
  • WILL NOT result in prices falling (prices should stabilize)
  • WILL NOT result in a buyer’s market

Spring vs. Summer, 2016-2019

Let’s take a look at how the Arlington real estate market shifted from spring to summer from 2016-2019 to give some historical perspective. I did not include 2020 because it will always be an outlier that provides little value for historical trends/context. I looked at four data points that I use to measure market conditions:

  1. Percentage of homes that went under contract within one week of being listed
  2. Percentage of homes that sold for at or above the original asking price
  3. Average sold price compared to the original asking price
  4. Number of homes listed for sale

Here is a summary of findings from the charts shared below:

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Donaldson Run is recognized as one of the best places to live in Virginia partly for its tree-covered scenery and parks, but how well does it preserve that reputation? We’ve put together our top places that we believe make this neighborhood an Arlington favorite.

About the Neighborhood

Donaldson Run shares its name with the stream that runs through the center of the neighborhood and flows into the Potomac. The area was once farmland, and the Donaldson name goes back to one of the early farming families who shuttled crops to and from Georgetown.

The Donaldson Run stream has been part of an ongoing restoration project since 2004 to mitigate some of the erosion along its banks. Since that time, the stream has regained much of its flow and vegetation, giving the brilliant terrain new life. A community of volunteers in the Donaldson Run Civic Association are part of a wider initiative to help preserve the features that give this neighborhood a charming and relaxed feel.

As for the residential areas, they comprise a small community of mostly homeowners. Common styles for homes are ramblers and colonials, but there is a fair share of Cape Cods and split levels as well. It’s not uncommon to see homebuyers looking to this neighborhood for more space. For transportation, residents rely mostly on their own vehicles, with the Ballston Metro being the closest option. However, commutes to D.C. are relatively short. Residents also enjoy convenient access to hiking trails to step away and get a breath of fresh air, which brings us to our favorite places…

Top Places in Donaldson Run

With the amount of green space here, it’s no surprise this list is dominated by parks that rival some of the best picnic spots in Arlington. Here’s our list of top places in the neighborhood:

  • Potomac Overlook Regional Park: East of Donaldson Run stream is the Potomac Overlook Regional Park. Enjoy nearly two miles of easy hiking trails to go along with outdoor activities for family trips. The park includes campfire sites, an amphitheater for outdoor concerts, and a Nature Center with educational exhibits on surrounding wildlife. At its northeastern tip is a scenic overlook with a can’t-miss view.
  • Zachary Taylor Park: Inside Zachary Taylor Park, you’ll find a creekside trail that runs through the neighborhood, perfect for a relaxed walk. Small cascades along the creek ferry water to Donaldson Run, giving this park an especially calm atmosphere. The trail is considered to be very easy and can even be taken on with a stroller in hand.
  • Lee Heights Park: Lee Heights is a small three-acre park of open space with benches to relax on. Visitors can sit back and cherish the peace and quiet that Donaldson Run is known for.
  • Donaldson Run Trail: This is a heavily wooded trail that makes you forget you’re mere miles from a major city. The Donaldson Run Trail is a moderate two-mile hike, and it runs in a loop along the eastern side of the neighborhood, with several twists and turns for more adventurous trail seekers.
  • Marymount University: And finally we have Marymount University, a quiet and picturesque campus to the southwest of Donaldson Run. A bike trail runs from the edge of the small campus all the way to Zachary Taylor Park, giving bikers an amazing route to travel.

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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.

In my last column, I mentioned one of the great things about getting people back into the store has been the questions I’ve been fielding from all of you, and the conversations it has allowed me to get started.

My weekly beer newsletters I send out frequently feature a section belovedly titled “Arrowine House of Lagers,” and that is driven, in part, by the increase in both supply and demand. But honestly, I’d be doing it even if it was just for my own personal amusement. There is, over and over, one subsect of lagers that seems to beguile folks: the Kellerbier. Even a few years ago the style remained relatively obscure here in the U.S., and traditional German versions rarely traveled this far.

Let’s make one thing clear: All Kellerbiers are not created equal. Kellerbier means simply “cellar beer,” and it is a style of lager that would have traditionally been matured (or lagered) inside of an oak cask stored in a cave or cellar. Inside of that cask, the beer would remain unfiltered and unpasteurized. and in this case, it would have had its bunghole (yes, they really call it that) left open to the surrounding cellar air. It would have carbonated itself gently and naturally but not to the level that it would have if it had stayed in a closed container trapping the CO2.

While this openness does allow the flow of air from inside the cave, it is completely different from an open or even spontaneous fermentation, so don’t expect fruity open-air pale ale esters or the wild funk of a lambic. Served directly from the cask, this beer would be cloudy, lightly carbonated and perhaps softer than a longer aged traditional lager. Outside of that requirement, any lager could be considered a Kellerbier if it was served in this method, right?

So wait, does that mean that my New England unfiltered hazy IPAs could all be considered Kellebiers as well? Nope — completely different styles. What about a cask of English Best Bitter? That’s closer, but Germany’s brewing traditions utilized their many natural caves for lagering as opposed to the British traditions of warmer fermenting ales. Perhaps you’re inducted into the Cult of Rothaus and love their unpasteurized Pilsner. You might be thinking unpasteurized, lager this HAS to qualify — but alas no. That doesn’t mean this increasingly more popular style isn’t without its variances.

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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.

Good morning, Arlington, and welcome to JUST LISTED!

The pace had picked up last week after two dramatically slower weeks, but this week, we’ve slowed again. For the time being, I am starting to believe this is just an early summer start mixed in with plenty of buyer fatigue. There is still plenty of real estate being transacted, interest rates remain incredibly low, and inventory is sitting below 1 1/2 months of supply.

Sellers listed 97 homes for sale this past week, 28 fewer than the week before. Buyers ratified 94 contracts, 13 fewer than last week and 41 of which were on homes just listed in the past seven days.

This week, there are 533 available properties for sale throughout all of Arlington and across all property types: 127 are detached homes, 55 are townhome/semi-detached homes and 351 of the available units in Arlington are condos.

For a bit of perspective, this same week last year sellers listed 86 homes and buyers ratified 72 contracts. There were also only 288 available properties for sale this week last year.

The average list price for currently available properties is $753,147 and the median is $549,900. Currently available properties in Arlington have an average of 59 days on market (DOM) and a median of just 30.

Picks of the Week: The Andors Real Estate Group has JUST LISTED two beautiful homes this week in Arlington — take a look!

2620 S. Fern Street, Arlington, VA 22202 — $1,075,000

This tremendously updated brick home is located on a beautiful, flat 13,325-square-foot lot with a new slate patio in the rear. An enclosed front portico entrance serves as a perfect space for coats and shoes, and an elegant staircase greets you as you walk into the foyer. Find a main-level owner’s suite, chef’s kitchen with beautiful cherry-stained cabinetry and stone countertops, a beautiful light-filled home office, and a three-season room in the rear. With five total bedrooms, a full bathroom on each of the three levels, and a lower level that could serve as an in-law suite, plus a detached one-car garage, this house is ready for its new owners!

2615 S. June Street, Arlington, VA 22202 — $1,215,000

A unique brick and stone constructed ranch/rambler-style home with a fantastic slate front porch awaits. It’s uncommon to find privacy this close to D.C. Tucked up high above quiet June Street with alley access, this mid-century home is a nature retreat! Sited on a large 13,577-square-foot lot with loads of off-street parking, this one is not to be missed. Two levels, three bedrooms with an optional fourth, three full bathrooms, a stunning family room expansion and open floor plan with close to 3,500 square feet of finished living space and a full second kitchen, this house offers something for everyone.

Find me at 2615 S. June Street from 11 a.m. to 1:30 p.m., and then at 2620 S. Fern Street from 2 to 4 p.m. this Saturday, June 19.

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:

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With our recent sales success at Abingdon Place, we’re thrilled to release the next section of elegant townhomes. Act quickly, and your new home can be customized to fit your tastes.

Each home at Abingdon Place thoughtfully melds the elegance of Old Town Alexandria’s distinctive traditional architecture with the comforts of modern design. Rooms illuminate with light from the energy-efficient windows. High ceilings (10-foot on the main level) give your home a truly grand feeling. Standard private elevators connecting all four levels tie the whole home together.

Thoughtful finishes and features accentuate open-concept living and exceed your expectations in how elegant your home can be. Coupled with the convenience of living so close to everything, it’s easy to see what makes the Towns of Abingdon Place in Old Town North right where you want to be!

Our two furnished models are now open. Book your private appointment or just stop by during our office hours: Friday through Monday, 11 a.m. to 5 p.m.

The Towns of Abingdon Place: 4 levels, 3 to 4 bedrooms, 3.5 to 4.5 bathrooms, 2-car garage in Old Town North Alexandria. From $1,499,900.

BeaconCrest Homes, the highly acclaimed D.C. metro homebuilder, is proud to present a rare opportunity to own one of seven new townhomes at Veitch Place in North Arlington.

Unbeatable Location

Live a quarter mile to Courthouse Metro Station, a quick six-minute walk from home. Enjoy cobblestone adventures, dining and popular retail less than 10 minutes away in Georgetown. Discover easy commutes and better day-to-day living when you live less than five miles to downtown Washington and all that Arlington has to offer.

Next-Level Living at its Finest

Embrace townhome living without sacrificing what you love most — your space and comfort. From the distinct architecture details to the open and bright interiors, the homes at Veitch Place offer four luxurious levels of living.

These one-of-a-kind homes boast open design floor plans, gourmet kitchens, home offices, luxuriously appointed baths, rooftop terraces and two-car garages. These are a few of the many features that make Veitch Place unique and Arlington’s hottest new address.

Act Now

Construction is underway with sales opening soon. Join our VIP list to discover the floor plans at Veitch Place and to be eligible for exclusive pre-market sales opportunities.

With only seven townhomes available, Veitch Place is sure to sell out fast. Opportunity is limited, so don’t wait — register today!

This article was written by Sindy Yeh, Senior Business Ambassador for Arlington Economic Development.

It comes as no surprise that both domestic and international companies select Arlington as their home to grow their businesses. They choose Arlington for similar reasons, such as proximity to customers and partners, accessibility to major transportation infrastructure, and the availability of a talented workforce. Here are perspectives from three international companies based in Arlington.

For the Japanese global conglomerate NEC Corporation, Arlington and the Northern Virginia area are excellent places for technology businesses. Mr. Shin Takahashi, chairman of the board of NEC Corporation of America (NECAM), selected Arlington to both live and work when he began leading NECAM’s government relations and public policy office in early 2018.

“Having a strong local management team is key to success for international companies,” Takahashi said. “Arlington is a good location for hiring great talent with excellent education and experience. There are lots of good companies around here, so it is easy to find highly qualified talent.”

NECAM’s Arlington location has grown to several business units, including a customer experience center to showcase its IT and facial recognition technology. It will relocate to a new office in Ballston in the fall.

“We only looked at Arlington when considering a new location to house the business units,” Takahashi said. “Arlington is diverse, safe and international. I could carry the same lifestyle as in Tokyo, where I could walk every place at night, go to grocery stores and restaurants, and visit movie theaters.”

Takahashi is also amazed at the number of fitness studios and gyms in the area and how healthy Arlingtonians are. “From my window, I can see people carrying yoga mats to exercise, so it is a big booster for my own wellness and a motivation to work out.”

TELE’s Daniel Kroepfl, who established the Austrian industrial electronics, manufacturing and services company in Arlington in late 2018, expresses a similar sentiment. “I travel to many cities throughout the country to visit customers and partners, and I do not see as many people running and exercising as in Arlington,” he said. “Arlington lives up to its name as America’s fittest city.”

When TELE was first considering expanding to the United States, the company looked at different cities across the country. “We chose Arlington because we want a location where we can recruit talent but also where our employees from Austria would enjoy visiting,” Kroepfl explained. “Austrian Airlines offers frequent direct flights from Vienna to Dulles, so I can visit my family and travel to headquarters easily.”

Accessibility to Europe and the U.S., Canada and Mexico markets is also a major consideration. “Access to major transportation hubs is key for our industry, which is industrial production, automation and electronics development,” Kroepfl said. “Everything is within easy reach by having an office here, allowing us to achieve our business goals.”

For the Australian digital intelligence startup Fivecast, accessibility to decision-makers in federal government agencies was the primary reason to choose Arlington for its first U.S. office. Duane Rivett, one of the founders of Fivecast, moved here in late 2019 to build up the company’s U.S. operations.

“The U.S. federal government represents an important customer base for Fivecast. Our digital intelligence solutions are built from the ground up to address challenges facing national security, defense and law enforcement organizations,” Rivett said. “The business community in Arlington provides lots of great opportunities for networking across the public sector and sharing ideas, expertise and connections, which are invaluable for establishing a new business.”

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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.

To all the dads out there, we hope you enjoy your day this Sunday.

Sunday, June 20, is Father’s Day. So, if you haven’t snagged something special or planned an activity with dad, here is your friendly reminder!

Material things aside, there are plenty of settings for an awesome Father’s Day in Arlington County or nearby. Among the top fishing spots are Riverbend Park in nearby Great Falls, Pohick Bay Regional Park in Lorton and Fountainhead Regional Park in Fairfax Station. Of course, Arlington’s park system is stellar, and there are options galore with baseball fields, tennis courts, basketball courts and pavilions for lounging, too.

On the restaurant front, our local scene spans the international spectrum and, of course, the museums up the road in D.C. are primed for a stroll.

If you’re looking for a change or wanting to call Arlington County — and all of its dynamic offerings for Father’s Day and beyond — home, the time-tested team at Arlington Realty, Inc. is ready to jump into action on your behalf.

Until then, here’s to a happy Father’s Day and on to this week’s Just Reduced stats and facts: As of June 14, there are 169 detached homes, 60 townhouses and 385 condos for sale throughout Arlington County

In total, 45 homes experienced a price reduction in the past week, including:

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.

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Graduate students attend in-person course in Falls Church (courtesy of Erin Williams/Virginia Tech)

Virginia Tech’s Evening MBA announced that students will return to its Falls Church center for classes this August. The Evening MBA program is among the best in the country and the top part-time MBA program in Virginia, according to a 2022 survey of the nation’s top graduate schools by U.S. News & World Report.

“We know many students choose the Evening MBA because they value the in-person interactions they have with classmates and faculty members,” said Rebecca McGill, associate director of MBA recruiting at Virginia Tech. “We’re excited to return to in-person classes and provide those rich learning and networking opportunities that some find they’ve missed in the online environment.”

At the same time, McGill says there has been a high level of interest in Virginia Tech’s recently launched Online MBA.

“We were pleased with the level of interest for our first Online MBA cohort, and I think that reflects the changing needs and preferences of today’s professionals after a year of adapting to remote work,” said McGill.

Dana Hansson, director of MBA programs at Virginia Tech, says it’s important to adapt to meet students wherever their needs are. “Our strategic focus since 2013 has been to provide working professionals with flexible options that fit into their personal and professional lives,” she said.

Virginia Tech’s current suite of programs includes the Evening MBA, Online MBA and the Ballston-based Executive MBA. All are part-time formats designed with working professionals in mind.

Applications for the Evening MBA program are due July 1. Learn more about Virginia Tech’s MBA programs at mba.vt.edu.

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. Video summaries of some articles can be found on YouTube on the Ask Eli, Live With Jean playlist. Enjoy!

Question: How does Arlington’s housing market compare to what you’re seeing in Fairfax and Loudoun counties?

Answer: The Arlington single-family home (SFH) market has been competitive, and prices have increased, but the shift hasn’t been nearly as dramatic as what we’ve seen farther west in Fairfax County and Loudoun County.

The Arlington condo market has improved from the end of 2020/early 2021, and prices seem to be coming back, but inventory levels are still much higher than they were in the years preceding the Amazon HQ2 announcement.

Listing Activity up in Arlington, Normal in Fairfax and Loudoun

The number of SFH listings in Arlington this spring is up noticeably compared to prior years, but the biggest story continues to be the amount of condos being listed for sale. I previously wrote about the historical volume of condo listings we had last fall, and that trend has continued through this spring with the total number of condos listed for sale from March to May significantly higher than any other spring market in the last 10+ years.

The number of SFH listings in Fairfax County and Loudoun County have been consistent with past spring markets, down slightly compared to 2018 and 2019.

Demand Meets or Exceeds New Supply, Except Condos

Despite higher-than-average listing activity in Arlington, the SFH inventory levels remain very low because there is enough demand to absorb the extra supply. SFH inventory has remained at about one month of supply throughout 2021.

Condo demand has not met the higher-than-average listing activity, and condo inventory has steadily increased through the spring after dropping (and flattening) from five-year highs this winter. The Arlington condo market has settled at around 2.5 months of supply for the last six months, which represents a market that is more favorable to sellers than buyers but still a significant shift from the post-Amazon HQ2 market with two to three weeks of supply for about 18 months.

Demand in Fairfax County and Loudoun County has been exceptionally high, and inventory levels remain dangerously low with just two to three weeks of supply for nearly the last eight months.

Prices Are up (Of Course)

Prices for SFHs in Arlington are up, with the median price of a SFH in Arlington exceeding $1.2 million for the first time ever in May. While the prices in Arlington are up noticeably, it’s nothing compared to the massive appreciation seen in Fairfax County and Loudoun County over the last four months where we’ve seen up to 15-20% year-over-year increases in prices throughout both markets.

Condo prices have increased from late 2020/early 2021 and seem to be settling in a bit below pre-pandemic numbers. I didn’t include a chart for condo prices because there’s too much variability, and it doesn’t provide much value.

Escalations Over Ask Are The Norm, Likely to Change Soon

This spring, the average SFH in all three markets has closed for 3-4.5% over the original asking price. I expect this number to come down over the next few months as asking prices catch up with what the market is willing to pay and the attention/priorities of buyers starts to shift to other things like travel, events, and seeing family and friends.

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.

Video summaries of some articles can be found on YouTube on the Ask Eli, Live With Jean playlist.

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.

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