River Place in Arlington, Va 22209 – Market Update 7.14.15
River Place is a co-op community located in the heart of Rosslyn in Arlington Virginia. The community has 1700 units that are situated in four buildings; River Place North, South, East and West. Units range in size from studios with 383 square feet all the way up to 3 bedroom Penthouses with over 2,300 square feet. Some sell with an assigned or garage parking spot, while others do not include parking. Parking spots do become available for sale and may be purchased at that time and there are often spots that can be rented. Residents enjoy access to many community amenities; fitness center with a sauna, showers and locker rooms, outdoor pool, gated entry, secure access for each building, concierge, convenience store, dry cleaners, and a salon. The community is known for its prime location; Rosslyn Metro is just 2 blocks away and easy to walk too. Residents can also walk across the Key Bridge to visit Georgetown and surrounding areas.
The following is a review of activity in River Place since June 2014.
•Number of Sales: 40
•Highest Priced Sale: $310,000
•Lowest Priced Sale: $124,000
•Median Sales Price: $163,500
•Median Days on Market: 24
•Median Sale Price to List Price Ratio: 93.24%
River Place is a unique community due to being one of the few co-ops in the area and whether you’re buying or selling in River Place hiring an agent that has past experience in the community is a must. The financing requirements are different in River Place than what’s standard in most communities and there are a handful of lenders that will provide financing due to it being a co-op. Buyers need an agent that can educate them on purchasing a co-op so that they can decide if it’s the right purchase for them.
If you’re considering a purchase in River Place browse current homes for sale or contact me to setup a custom listing alert that will automatically notify you when a new property enters the market. I welcome your questions and would be happy to help in your home search. If you currently own a unit in River Place and would like to know its current value contact me for a free market evaluation and to discuss how I can put my expertise to work for you. I have represented many sellers in the community and welcome the opportunity to earn your trust and business.