Arlington Real Estate News

1 Bedroom in Adams Morgan Now For Sale!

Laura — Wed, 28 Jul 2010 15:28:56 +0000

For more information on this great 1 bedroom co-op unit now for sale in Adams Morgan visit www.TheSaxonyUnit322.com

Arlington, VA Neighborhood Spotlight: Monroe Crossing

Laura — Wed, 28 Jul 2010 14:29:34 +0000

A neighboring townhouse community to London Square, Monroe Crossing is a community of 16 townhomes also located on S 12th Street and S Monroe Street in Arlington, VA 22204. Units were built in 1997 and have a garages.

Search Monroe Crossing Townhomes for Sale

Arlington, VA Neighborhood Spotlight: London Square Townhomes

Laura — Wed, 28 Jul 2010 14:22:17 +0000

A community of 44 townhomes built in 1966 located on S 12th Street and S Monroe Street in Arlington VA 22204. Some feature attached garages.

Search London Square Townhomes for Sale

Arlington, VA Neighborhood Spotlight: Wilde Oaks Townhomes

Laura — Wed, 28 Jul 2010 14:12:27 +0000

A townhouse community of 33 units built in 1978, located on S. 12th Road, S Frederick Street, and S George Mason Drive in Arlington, VA 22204. Units come with assigned parking spaces.

Search Wilde Oaks Townhomes for Sale

Washington DC Real Estate Market – Recovering in June 2010

Laura — Mon, 26 Jul 2010 17:13:08 +0000

The DC real estate market is a little bit of the tale of 2 markets. A total of 763 properties were sold in June – of which 84 were bank owned and 25 were short sales – accounting for 14.3% of the sales. The Condo/Coop market appears to be rebounding nicely with prices and inventory both well above levels from 2009. The single family/rowhouse market appears to slowly be recovering. Average prices are still down while inventory is slow to rebound in numbers. Here’s the breakdown:

Condo/Coop

Average Sale Price: $414,612 (highest average over the past 5 years)
Closed Transactions: June 2010 v June 2009: Up 7.5%
Closed Transactions: Year to Date: Up 34.1%
Inventory: June 2010 v June 2009: Up 0.1%
Inventory: Year to date: Up 12.7%

Single Family/Rowhouse

Average Sale Price; $541,307 (lowest average over the last 5 years)
Closed Transactions: June 2010 v June 2009: Up 2.8%
Closed Transactions: Year to Date: Up 38.1%
Inventory: June 2010 v June 2009: Up 16.3%
Inventory: Year to date: Down 14.6%

Numbers are courtesy of GCAAR.com

Falls Church Real Estate Rebounding for June 2010

Laura — Mon, 26 Jul 2010 12:55:48 +0000

Compared to June 2009, the real estate market in Falls Church is rebounding nicely. Prices are up across the board and days on the market are down. Even with 21.6% of the sold properties being distressed – 22 were short sales and 15 were bank-owned – prices are climbing again. Here’s the breakdown for June 2010:

Single Family Home, Detached
Average Net Sale Price: $555,033 after 45 days
Range: $230,000 – $1,475,000

Townhouse
Average Net Sale Price: $448,163 after 50 days
Range: $120,000 – $670,000

1 Bedroom Condos
Average Net Sale Price: $178,325 after 48 days
Range: $83,000 – $276,000

2 Bedroom Condos
Average Net Sale Price: $290,238 after 65 days
Range: $134,000 – $505,000

Remember these are just averages for the month. If you want more accurate pricing information for your home, please give me more specific information.

Arlington Voted #11 By Money Magazine for Best Places For the Rich and Single

Laura — Mon, 26 Jul 2010 12:17:10 +0000

Now I ain’t sayin’ (s)he a gold digger…

But if you want to know where the rich and single live – Arlington may be one of your best options. Money Magazine’s 2010 Ranking of the 25 Best Places for Rich and Single posted Arlington, VA at #11. In 2009, Arlington was #2. Here are the metrics for the ranking:

Population: 212,173

Single: 41.6%

Median family income: $104,452

While most of the Top 25 are places in California, our neighbor Towson, MD was ranked #14. For the complete list of cities, read the Top 25 Rankings.

Money Magazine ranked cities with at least 30% of the population being single by median family income.

If you’re thinking of moving to Arlington or buying a house, search homes for sale in Arlington.

McLean VA Real Estate Continues to Climb – June 2010

Laura — Thu, 22 Jul 2010 15:53:58 +0000

June was another strong month for the real estate market in McLean, VA. A total of 80 properties changed hands, of which 2 were short sales and 6 were bank-owned. Average prices are up nearly 30% for 22102 and over 15% for 22101 over 2009. Both saw a decline in days on the market by about 47% (73 days for 22102 and 62 days for 22101). Here’s how the numbers breakdown:

22101

Single Family Home, Detached
Average Net Sale Price: $1,029,071 (Range: $550,000 – $3,603,350)
Average Days on the Market: 58

Townhouse
Average Net Sale Price: $907,286 (Range: $540,000 – $1,685,000)
Average Days on the Market: 65

22102

Single Family Home, Detached
Average Net Sale Price: $1,467,129 (Range: $815,000 – $2,600,000)
Average Days on the Market: 129* (median was 57, 1 property was on over 2 years and threw off the average)

1 Bedroom Condo
Average Net Sale Price: $232,413 (Range: $160,500 – $349,680)
Average Days on the Market: 28

2 Bedroom, 1 Bath Condo
Average Net Sale Price: $235,510 (Range: $152,000 – $320,000)
Average Days on the Market: 17

June 2010 Sees Over 13% Increase in Real Estate Prices in Arlington

Laura — Mon, 12 Jul 2010 15:22:36 +0000

Looks like June was a busy month for the housing recovery in Arlington. With 308 properties sold, prices were up, on average 13.5% while days on the market was cut by 27%. On average, the properties sold for 96.18% of the list price. The number of distressed properties broke out to be 19 closed short sales and 13 closed bank-owned. Here’s the average net sale price and days on the market by location and type:

Detached Properties/Single Family Homes
North Arlington: $836,200 in 37 days (range: $440,000 – $1,700,000)
South Arlington: $593,021 in 83 days (range: $250,000 – $1,625,000)

Townhouse
North Arlington: $726,856 in 30 days (range: $440,000 – $1,070,000)
South Arlington: $378,377 in 29 days (range: $189,000 – $653,600)

1 Bedroom Condo
North Arlington: $317,128 in 37 days (range: $180,000 – $578,000)
South Arlington: $225,931 in 34 days (range: $80,000 – $350,000)

1 Bedroom + Den Condo
North Arlington: $384,908 in 29 days (range: $232,681 – $645,000)
South Arlington: $236,736 in 63 days (range: $118,000 – $320,000)

2 Bedroom Condo
North Arlington: $519,459 in 41 days (range: $272,000 – $809,000)
South Arlington: $398,561 in 107 days (range: $288,887 – $500,000)

Compare these numbers to June 2009.

Keep in mind, these are just averages. Ranges are wide throughout the County, so for a more accurate pricing of your particular property, please let me know the specifics.

What Does “MLS” Stand For in Real Estate?

Laura — Wed, 07 Jul 2010 18:48:51 +0000

Realtors(R) use a lot of jargon in every day conversations and online – so when you see the acronym “MLS,” you may wonder what it means. In the real estate world, “MLS” does not refer to the soccer league – it stands for Multiple Listing Service.

The Multiple Listing Service is the fancy name for the online system where all the real estate brokers enter their new properties for sale. In industry speak, new properties for sale are called “listings,” thus they called the Multiple Listing Service (or System).

If you’re searching properties for sale on Realtor.com, FranklyMLS.com, ColdwellBanker.com or KellerWilliams.com (or any other national real estate website), those properties are all being taken from a local MLS provider that aggregates the properties into a database.

If you see terms like “Search the MLS” it’s just Realtor(R) speak for “Search Homes for Sale.”

In the Maryland, Washington, D.C., and Virginia area we use a system called MRIS – Metropolitan Regional Information Systems, which aggregates properties for parts of West Virginia and Pennsylvania in addition to MD/DC/VA. If you’ve heard local commercials for HomesDatabase.com – that’s the same crowd of people!

Any other phrases you’ve heard recently you don’t recognize? email them to me!