Market Update – What’s happening at the Acadia and Marquis in Vienna?

Market Update – What’s happening at the Acadia and Marquis in Vienna?

The Acadia and Marquis at Vienna Station are two condo complexes across the street from the Vienna metro.  The two are very similar, with the Marquis residents sharing the same amenities in the Acadia.   The condos are easy to rent because of their location and amenities.  This is an analysis of sold data for the past 3 months at both the Acadia and Marquis.

 The data:

• 11 properties total sold in the last 90 days
• Average Days to Close = Close Date – Contract Date
• Average Days on Market = Contract Date – List Date

 All 1-bedrooms that sold (4 total) were short sales.

There were a total of seven 2-bedrooms condos sold, which had a mixture of regular sales, short sales, and foreclosures.

Analysis

 First, with only 11 properties sold in the last 3 months, the data is not statistically significant.  With that said, however, we can see a few trends to keep in mind when you are buying or selling in these condos.

1-bedrooms seem to be in demand since they are going under contract must faster than the 2 bedroom properties.   Short sales and foreclosures seem to be consistent amongst the 1-bedroom properties.  All of the current 1-bedroom properties under contract are either a foreclosure or short sale.  This has significant impact if you are an owner with a regular sale.

2-bedroom properties are taking longer to sell, but owners of regular sale properties still have a slight advantage over short sales and foreclosures.  2-bedroom short sales are taking a long time here, which make regular sales more attractive. 

Currently, there are 9 properties currently under contract and 8 active properties in both complexes, indicating there is still a lot of activity happening here.

If you are interested in buying or selling in the Acadia or Marquis at Vienna Station, please contact me at 703-349-0143!