Market Values for Condos in Arlington VAI've noticed in the last 2 weeks the emergence of a new market value for 1 bedroom condos in Arlington VA on the orange line in Clarendon, Ballston & Courthouse. What used to be in the low $400,000s may now be worth in the upper $300,000s. Here are some recent Arlington condo listings--some of them in my favorite buildings such as Continental, Odyssey and 1800 Wilson.
What is interesting is that 2 of them are in Odyssey--in my opinion the premier condo of Arlington VA on the orange line. Another is in Continental and 1800 Wilson and Clarendon 1021. These are cutting edge communities and for 4 listings to come out recently under $400,000 in these buildings could be a sign of what I'm expecting--a continued correction in the condo market. It is important to note that most of these were on lower floors, but even a unit on the 6th floor listed at $410,000 at Clarendon 1021. Those usually list at $439,000 so it would seem that the new deliveries of Hawthorne, 1800 Wilson and the continued marketing of Park at Courthouse, all of which were offering new units around $360-370,000 have made an impact on the surrounding market values. Park at Courhouse may be sold out of those lower priced units now and about 2 weeks ago Hawthorne was down to their last lower priced unit at $365,000 with a private entry directly to Pollard Street.