Category Archives: Arlington News

2012 Arlington Real Estate Market in Review

The numbers are in for annual sales and growth for 2012 for the Arlington real estate market. What a year it was. Historically low interest rates, historically low inventory levels, and a huge demand from buyers lead to some pretty interesting activity and turns in our local market. We’ve now shifted into a sellers market because supply is just not keeping up with demand. Our absorption rate these days is about 2.5 months (absorption rate is the amount of time it would take to sell through current inventory). That’s well into a sellers market (a balanced market is 5-7 months).

2012 Year End Numbers

  • Average Prices: UP 3.01%
  • Median Prices: UP 3.9%
  • Unit Sold: UP 17% (2,788)
  • Days on the market: DOWN 8 (53)
  • Average Sale Price of Original List Price: 97%
  • 37% of all sales in 2012 sold within 10 days of going on the market….that number was 50% within 20 days
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October Market Update for Clarendon Real Estate

October was a good month for the Clarendon real estate market. The average sale price increased 4.11% from last year, condos were up almost 3%, and sellers averaged 97.2% of asking price.

The average price of a 1 Bedroom/1 Bathroom condo in Clarendon is now about $425,000 (square footage and other considerations will impact this).

The average price of a 1 Bedroom with Den in Clarendon is now about $500,000.

The average price of a 2 Bedroom, 2 Bathroom is between $590-600,000 for a 1,000 sq ft unit. The bigger the unit, the more that goes up!

For a full review of the Arlington real estate market, click here.

April Statistics for Clarendon Real Estate

April was a great month for the Clarendon real estate market. Prices were up an average of 11% over last year, properties are selling for an average of 97.4% of original list price, and average days on the market was 42 (this includes condos, townhomes, and single family homes). Active inventory was down 21.6%. Here are the recent sales for Clarendon Condos:

The Phoenix Condo
-Unit 615, 1 Bedroom + Den, 908 sq ft
Sold for $$476,250 in 26 days
-Unit 310, 2 Bedroom, 2 Bathroom, 1,020 sq ft
Sold for $556,000 in 5 days

Station Square Condo
-Unit 210, 1 Bedroom + Den, 1.5 Bath, 934 sq ft
Sold for $485,000 in 3 days

Clarendon 1021
-Unit 303, 1 Bedroom, 1 Bathroom, 746 sq ft
Sold for $407,000 in 12 days
-Unit 919, 1 Bedroom, 1 Bathroom, 746 sq ft
Sold for $412,500 in 9 days
-Unit 718, 2 Bedroom, 2 Bathroom, 1,104 sq ft
Sold for $585,000 in 9 days
-Unit 921, 2 Bedroom, 2 Bathroom, 1,063 sq ft
Sold for $636,800 in 31 days

 

Top 30 Under 30 Finalist: Please Vote!

One of my very first goals when I got into real estate was to make the list of the Top 30 Under 30 Realtors(R)…and I’ve made the top 50 finalists for 2012! So PLEASE, PLEASE help me!!! A panel of judges will pick the actual top 30 to be released in May/June, but there’s still the Reader’s Choice option, which is picked by online votes.

Please help me!

Prices Continue to Increase in Arlington

Prices increased 4.73% over February 2011! Yet another strong month for Arlington. With the price increase came an increase in total unit sold (174), and an increase in how much properties were selling for compared to their original list price (95.7%). Inventory dropped 7.6% from last year, helping the price increase. A total of 10 short sales and 6 foreclosures were sold in all of Arlington County during February. An interesting note on our local economy, 37 of the sales in February were CASH sales.

Continue reading.

Prices Skyrocket During January in Arlington

Overall, average sale prices were up 9.86% in January over 2011. Undoubtedly fueled by the fact that inventory levels were down 12%, days on the market decreased to an average of 77, while properties were selling on average at 95.4% of the original list price. In January, 122 properties sold, of which 6 were short sales and 7 were bank-owned. Condo prices in January increased over 17%!

Single Family Homes, Detached
N. Arlington Average Net Sale Price: $822,829 after 75 days
Range: $395,000 – $1,650,000
S. Arlington Average Net Sale Price: $493,282 after 138 days
Range: $410,000 – $550,000

Townhomes
N. Arlington Average Net Sale Price: $950,190 after 96 days
Range: $635,000 – $1,700,000
S. Arlington Average Net Sale Price: $364,087 after 45 days
Range: $210,000 – $641,695

1 Bedroom, 1 Bathroom Condos
N. Arlington Average Net Sale Price: $278,611 after 59 days
Range: $140,000 – $386,000
S. Arlington Average Net Sale Price: $232,398 after 84 days
Range: $94,900 – $346,513

2 Bedroom, 2 Bathroom Condos
N. Arlington Average Net Sale Price: $610,187 after 36 days
Range: $378,025 – $809,900
Not enough sold in S. Arlington to compute an accurate average

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International Business Times Interview

I was recently quoted in an article for the International Business Times called “The Hottest US Real Estate Markets: Washington, DC.” Read the full article here:

http://www.ibtimes.com/articles/292621/20120203/hottest-real-estate-markets-washington-dc.htm