Virginia Real Estate News

Arlington Virginia Condo Inventory & Sales Report (February 2012)

Mon, 06 Feb 2012 15:46:14 -0500

The Arlington condo market is really hot! Condos are selling throughout Arlington with multiple offers and the inventory is very low. Here's some stats about Arlington Virginia condominium sales and inventory for February 2012.

Currently there are 207 condos on the market for sale in Arlington. That may seem like a lot, but considering that 216 Arlington condos sold in the last 90 days, 207 is not that many... 54 sold in the last 30 days alone. Based on the 90 day numbers, there's only about a 2.875 month inventory of Arlington condos.

The condos for sale in Arlington range in price from $79,000 to $4.15 million with an average listing price of $512,397 (considerably higher than neighboring Alexandria). Here's the breakdown by size of the condo:

One Bedroom Arlington Condos

69 on the market

Price range from $79K to $855K

Average listing price $329,287

Two Bedroom Arlington Condos

107 on the market

Price range from $170K to $2.05 million

Average listing price $536,038

Three Bedroom Arlington Condos

21 on the market

Price range from $350K to $4.15 million

Average listing price $1,072,521

Over the last 30 days the average final sales price of Arlington condos that sold was $444,413. On average Arlington condo sellers are obtaining 95.03% of their original listing price -- showing that there's still quite a bit of room for negotiation.

Condos sold in an average of 53 days on the market. From surveys that have come back from sellers that have worked with my office, the average expectation for a sale is 60-90 days, so Arlington condos are selling fairly quickly which is pleasing to sellers!

The chart below shows the condominium complexes in Arlington with the highest number of units on the market. (Note: Jefferson Retirement is a 55+ retirement community in Ballston)

Interested in buying a condo in Arlington? Search for Arlington condos here.

Thinking about selling your Arlington condo or just want to know the value? Confidential and free market analysis of your condo's market value.

Alexandria Virginia Condo Inventory & Sales Report for February 2012

Mon, 06 Feb 2012 15:28:47 -0500

The Alexandria condo market is hot! Condos are selling throughout the city and the inventory is quite low. Here's some stats about Alexandria Virginia condominium sales and inventory for February 2012.

Currently there are 176 condos on the market for sale in Alexandria. Considering that 185 Alexandria condos sold in the last 90 days, 176 is not that many... 46 sold in the last 30 days. Based on the 90 day numbes, there's only about a 2.85 month inventory of Alexandria condos.

The condos for sale in Alexandria range in price from $100,000 to $2.1 million with an average listing price of $363,058. Here's the breakdown by size of the condo:

One Bedroom Alexandria Condos

62 on the market

Price range from $100K to $450K

Average listing price $255,627

Two Bedroom Alexandria Condos

93 on the market

Price range from $135K to $1.45 million

Average listing price $375,819

Three Bedroom Alexandria Condos

19 on the market

Price range from $179.9K to $1.55 million

Average listing price $561,955

Over the last 30 days the average final sales price of Alexandria condos that sold was $269,469. From this you can see that the lower end of the market is selling more readily and briskly than the higher end of the condo market in Alexandria. On average Alexandria condo sellers are obtaining 93.49% of their original listing price -- showing that there's still quite a bit of room for negotiation. However, some of that number for January is likely skewed from price reductions that occurred towards the end of 2011 or the beginning of the new year.

Condos sold in an average of 70 days on the market.

The chart below shows the condominium complexes in Alexandria with the highest number of units on the market.

Interested in buying a condo in Alexandria? Search for Alexandria condos here.

Thinking about selling your Alexandria condo or just want to know the value? Confidential and free market analysis of your condo's market value.

Valentine's Contest: Spread the Social Media Love!

Mon, 30 Jan 2012 11:05:36 -0500

Valentine's Contest
February 2012
Love, Love, Love

Happy Valentine's Day!

WIN A ROMANTIC DANCE LESSON AND DINNER/DANCE CRUISE ON
THE POTOMAC RIVER!

February is the month of Valentine's Day and therefore a month full of love. We love our clients who have bought and sold homes with us and we want you to spread the love too! Even if you haven't worked with us (yet), you can still join the contest by sharing the social media love!

PRIZES: TOTAL VALUE $291

Private Dance Lesson for You & a Partner with The Wedding Dance Specialists (valid throughout December 2012) VALUE $115
Dinner/Dance Cruise on the Potomac River for Two on Nina's Dandy (must be used by the end of February 2012) VALUE $176

RULES:

There are 3 ways to earn entries into the contest drawing:

1. Post on Facebook: "If you are looking to buy or sell a home in Northern Virginia or D.C., @brianblock and @blockrealestategroup is your best bet!" (note, you must either be a friend of mine on Facebook or "like" my Block Real Estate Group page)

2. Post on Twitter: "Need to buy or sell a home in Northern Virginia or D.C.? Contact @blockrealestate"

3. E-mail: Send an e-mail to a friend, family member or colleague recommending that they consider me for their real estate needs and copy me on the e-mail.

The above posts are suggestions. You can write anything to that effect. In order for your entries to be counted, please make sure you tag me in your Facebook or Twitter posts. In addition, in your post, feel free to link to this website, www.brianblock.com.

Posting on Facebook earns one entry into the drawing. Multiple Facebook posts are appreciated but do not qualify for multiple entries.
Posting on Twitter earns you one entry into the drawing. Multiple Twitter posts do not qualify for multiple entries.
Posting on Facebook and Twitter will earn you two entries.
You earn one entry per e-mail that you send to your friends, family members or colleagues recommending my services. Earn unlimited entries for each e-mail sent -- we'd love it if you tell everyone about us! :)

Winner will be selected and announced on Sunday, February 5th at 12 noon from all valid entries received at that point.

Your Best Bet with Brian Block: Featured in REALTOR Magazine

Sun, 29 Jan 2012 13:32:05 -0500

REALTOR Magazine gets mailed out to over 1 million subscribers. That's a fairly strong subscription base making it the publication for our industry. Published by the National Association of REALTORS, the magazine calls itself "The Business tool for Real Estate Professionals"

So, when you're extensively quoted in a publication of this magnitude, it's a pretty big deal, particularly when the writers have over 1 million REALTORS who they could come to as sources for their articles. It's an even bigger deal when the article is a featured article mentioned on the cover.

Warning: Shameless horn-tooting here!

One of the cover articles in the January/February 2012 issue of REALTOR Magazine (currently in the mailboxes of REALTORS around the country and online) is "Real Estate's Strongest Sectors for 2012" -- take a look at page 24 if you have the magazine. Inside the magazine, the article is actually entitled "The Year Ahead: Real Estate's Best Bets in 2012."

Here's a link to the online version of the article so you can read it in full: REALTOR Magazine article "The Year Ahead: Real Estate's Best Bets in 2012"

I'm excited to be quoted throughout the section on residential real estate trends for 2012. It's always an honor to be relied upon by the media as a trusted source of real estate information.

Here's just one sample quote from the article:

"Affordable housing in inner-ring suburbs or center city areas may be real estate's sweet spot in 2012, Block says, because buyers today aren't looking just for bargains, they're looking for convenience and lifestyle amenities."

Check out my other recent press coverage at my online newsroom.