The Arlington Condominium
YTD April 2018 Market Report
The year started out with a bang for The Arlington Condominium with 19 units reaching the settlement table in the first 4 months of 2018! The Spring market definitely sprang early with continuous activity early in the year and then 6 units going under contract in the month of March alone. When viewing the results from a high level two things stand out; first is how much the average Sales Price has moved up from the full year 2017 average... (the lowest average increase is just shy of $10,000 for A units) and how many L units have sold. For all of 2017 there were only 5 L units that changed hands, but so far in 2018 we have already had 6 units cross the settlement table. As the largest units in the community and only about 48 or so of this model in the complex, 3 - 4 units selling a year is considered a strong market.
The overall activity in The Arlington is reflected across the entire Northern VA area across all the lower price points for the most part, as buyers that had been sitting on the fence are motivated to find a place to call home as interest rates keep melting higher. The activity in The Arlington shows that 3 more units will settle in May and there is just 1 active listing in the community at this writing.
If you are thinking of selling your Arlington condominium, now is a great time! With competition so limited this is the supply/demand situation that sellers dream of due to buyers going full speed ahead to get something under, with still low interest rates as icing on the top. As a former resident of The Arlington and withover 20 Sold listings to my credit, I understand the great value that the community offers to potential buyers. Please contact me today to get the latest information on the community and we can set a time to discuss your goals and how to get there.
The Arlington Condominium was originally built as an apartment complex in 1950 and was later converted into condos in 1980. The complex covers roughly 27 acres and has 518 separate units in a garden style setting with no building exceeding 3 stories, 612 off street parking spaces in the community lots + street parking, over 600 trees (yes, they actually counted them all...) and plenty of open green space, 2 outdoor pools, and 2 tennis courts. One of the advantages of The Arlington is the time at which it was built; land wasn't nearly as expensive then so it was built at a much lower housing density, even when compared to the neighboring Fairlington condos which were built in the 1940's.
The Arlington Condominum is conveniently located in Arlington, VA on the border with Alexandria City, just a few traffic lights off of I-395 via King St West exit. Depending on where you live in the community, you are located 0.5 to about 1.0 mile from The Village at Shirlington; with it's shops, restaurants, move theatre, award winning live theatre, and library, as well as the Shirlington Dog Park for your 4 legged family members.
Are you considering a move to Arlington County? It is a great place to call home and here are some links to help you with your potential move.
The Village at Shirlington ~ http://villageatshirlington.com/
Arlington Tourism ~ www.stayarlington.com
Arlington County Public Schools ~ www.apsva.us
Arlington County Library ~ https://library.arlingtonva.us/
Arlington County Police ~ https://police.arlingtonva.us/