Comparing Arlington Condo Prices Along The Orange Line
When deciding between the various Arlington VA neighborhoods, consumers often want to know which of the neighborhood is going to provide the greatest price appreciation. Different Realtors may have different opinions based on their experiences, but I thought it would be a good idea to take opinions out of the equation and look at the charts to analyze condo sales in Arlington.
Arlington zip codes are not perfectly divided by neighborhood, so we are going to make the following assumptions:
- Rosslyn & Courthouse = 22209
- Clarendon = 22201
- Ballston and Virginia Square = 22203
The analysis calculates year-over-year pricing appreciation and depreciation. Charts like the one below provide a great way to easily evaluate trends as we compare values from one year to the next.
You’ll notice that in early 2008, that condos average condo sales prices in Rosslyn & Courthouse were over 100% higher than prices during the same period 12 months earlier. Even throughout 2009 Rosslyn continued to show positive year-over-year sales prices. Until early 2010 Rosslyn condos experienced the greatest amount of increase and the least amount of decline from one year to the next. Much of this may have been due to the luxury condo bu
ildings in Rosslyn and Courthouse such as Wooster & Mercer Lofts, Waterview and Turnberry Towers. All of which have units that sell for well into the millions. It’s curious that there has been a slide recently. I wonder if the luxury market is slowing down a little bit right now.
Clarendon, Ballston and Virginia Square condo values have been following a similar trend to each other. What’s interesting is that in 2010 they all came together. Going into July, Ballston and Virginia Square condos are showing positive improvements over 2009. Rosslyn and Courthouse condos are trending downward. Clarendon condos seems to have plateaued, but is still in a negative position compared to 2009.
Thought this blog is being published on June 30, the chart will continue to update. It will continue to be a great resource if you are thinking about buying a condo in Arlington and want to compare the different neighborhoods along the Orange Line.
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