Each week, Just Sold Condos highlights Arlington condos that sold in the past week. The market overview is prepared by Rick Bosl, Arlington Condo Expert, founder of ArlingtonCondo.comand an agent at KW Metro Center. Contact Rick and make your next step the right one.
Welcome to Just Sold Condos in Arlington!
Last week, August 12-18, 33 condos and co-ops sold in the price range of $145,000 to $1,040,000. The median price was exactly $417,000 and the median time on market was 7 days.
What can you get around the median price of $417,000? In Arlington there is:
- 2 bedroom/1 bathroom condo in Colonial Village: 1748 N Rhodes Street #319, built in 1940 for $417,000 and a condo fee of $464/month. Located in the Courthouse District, just a short walk to the subway.
- 1 bedroom/1 bathroom condo in the West Village of Shirlington for $377,000. The complex in the West Village of Shirlington was originally built as rental apartments in 1966 and then completely gutted and converted to condos in 2005.
- 2 bedroom/2 bathroom condo at Carlyle House, 5300 Columbia Pike #1007, for $375,000. This penthouse condo offers 1,300 sq. ft. of living space and an extended balcony.
For a complete list of sales, visit the Newly Sold Condos page of ArlingtonCondo.com.
What wasn’t sold?
While it’s important when following the real estate market to watch what’s selling, it’s also important to watch what’s not selling. Last week, 8 condos were taken off the market. Four were withdrawn, 1 expired, and 3 were canceled. When a listing is removed, it can be in one of three statuses:
- Expired– The listing term has expired and the listing contract has ended.
- Cancelled– The offer period has not yet expired, but the seller has decided to terminate the contract with the broker.
- Withdrawn– There is still a listing contract in place, but the seller has decided to take the property off the market. Some listings are withdrawn in December around the holidays and put back on the market a few months later.
For a complete list of products that were not sold last week, see ArlingtonCondo.com Just Expired Condos Page.
Selling your condo in the fall: smart move or missed opportunity?
If you’re considering selling your Arlington condo, you may be wondering if fall is the right time to do it. While most people associate spring with a busy real estate market, fall has its own unique set of benefits that can make it an ideal selling season.
Understanding market trends
One of the most important trends is the increase in activity after Labor Day. Historically, there is a significant increase in new listings in September, as market data shows. This increase in listings suggests that sellers are taking advantage of increased buyer interest returning after their summer break.
The chart below shows the number of new condo listings by month for the past ten years. The red arrows point to the bar for September and as you can see, there is a significant increase.
Benefits of selling in the fall
Motivated buyers
In September, buyers who put off their home search during the summer holidays become active again. They are often motivated to close deals quickly, especially before the holiday season begins, making them more likely to make competitive offers.
In addition, fall is also a transitional time when people start planning for the upcoming holiday season. This creates a sense of urgency among buyers who want to finalize their home situation before the busy holiday season begins. As a seller, this gives you a higher chance of attracting serious and motivated buyers who want to move quickly.
For more reasons and considerations for selling, read the full post here: Selling your condo in the fall – smart move or missed opportunity.
Be sure to take the short assessment to test your readiness.
Please note: Although ArlingtonCondo.com provides this information for the community, it may not be the listing agent for these homes. Same housing options.
