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Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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Choose a property type: All Property Types Detached Homes Condominiums Townhouse Multi-family Land Commercial

What is your price range? No Minimum $25,000 $50,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $525,000 $550,000 $575,000 $600,000 $625,000 $650,000 $675,000 $700,000 $725,000 $750,000 $775,000 $800,000 $825,000 $850,000 $875,000 $900,000 $925,000 $950,000 $975,000 $1,000,000 $1,050,000 $1,100,000 $1,150,000 $1,200,000 $1,250,000 $1,300,000 $1,350,000 $1,400,000 $1,450,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $25,000 $50,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $525,000 $550,000 $575,000 $600,000 $625,000 $650,000 $675,000 $700,000 $725,000 $750,000 $775,000 $800,000 $825,000 $850,000 $875,000 $900,000 $925,000 $950,000 $975,000 $1,000,000 $1,050,000 $1,100,000 $1,150,000 $1,200,000 $1,250,000 $1,300,000 $1,350,000 $1,400,000 $1,450,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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ZIP

Enter Zip Code Choose a property type: All Property Types Detached Homes Condominiums Townhouse Multi-family Land Commercial

What is your price range? No Minimum $25,000 $50,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $525,000 $550,000 $575,000 $600,000 $625,000 $650,000 $675,000 $700,000 $725,000 $750,000 $775,000 $800,000 $825,000 $850,000 $875,000 $900,000 $925,000 $950,000 $975,000 $1,000,000 $1,050,000 $1,100,000 $1,150,000 $1,200,000 $1,250,000 $1,300,000 $1,350,000 $1,400,000 $1,450,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $25,000 $50,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $525,000 $550,000 $575,000 $600,000 $625,000 $650,000 $675,000 $700,000 $725,000 $750,000 $775,000 $800,000 $825,000 $850,000 $875,000 $900,000 $925,000 $950,000 $975,000 $1,000,000 $1,050,000 $1,100,000 $1,150,000 $1,200,000 $1,250,000 $1,300,000 $1,350,000 $1,400,000 $1,450,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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MLS #

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MAP

Select a Starting Point: No Preference Accokeek Aldie Alexandria Annandale Annapolis Arlington Arnold Ashburn Baileys Crossroads Bealeton Beltsville Bethesda Bluemont Bowie Boyds Bristow Brookeville Burke Burtonsville Calverton Catharpin Catlett Centreville Chantilly Chevy Chase Clarksburg Clifton Clinton College Park Crofton Crownsville Damascus Davidsonville Derwood Dulles Dumfries Edgewater Fairfax Fairfax Station Falls Church Falmouth Frederick Fredericksburg Gainesville Gaithersburg Glenn Dale Goldvein Great Falls Greenbelt Hamilton Hanover Haymarket Herndon Hyattsville Kensington Lanham Laurel Leesburg Lovettsville Manassas Manassas Park Marshall Mclean Middleburg Millersville Mineral Nokesville North Potomac Oakton Occoquan Odenton Oldtown Olney Pasadena Poolesville Purcellville Remington Reston Rockville Round Hill Severn Severna Park Shady Side Silver Spring Spotsylvania Springfield Stafford Sterling Stone Ridge Suitland Takoma Park The Plains Triangle University Park Upper Marlboro Vienna Warrenton Washington Winchester Woodbridge Choose a property type: All Property Types Detached Homes Condominiums Townhouse Multi-family Land Commercial

What is your price range? No Minimum $25,000 $50,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $525,000 $550,000 $575,000 $600,000 $625,000 $650,000 $675,000 $700,000 $725,000 $750,000 $775,000 $800,000 $825,000 $850,000 $875,000 $900,000 $925,000 $950,000 $975,000 $1,000,000 $1,050,000 $1,100,000 $1,150,000 $1,200,000 $1,250,000 $1,300,000 $1,350,000 $1,400,000 $1,450,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $25,000 $50,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $525,000 $550,000 $575,000 $600,000 $625,000 $650,000 $675,000 $700,000 $725,000 $750,000 $775,000 $800,000 $825,000 $850,000 $875,000 $900,000 $925,000 $950,000 $975,000 $1,000,000 $1,050,000 $1,100,000 $1,150,000 $1,200,000 $1,250,000 $1,300,000 $1,350,000 $1,400,000 $1,450,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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Arlington Virginia Condos homes for sale bump up 5% -- Strong Market Continental & Odyssey Condo

Misc Arlington Condo Prices Bounce Back up 5% from 2009 Odyssey and Continental

Being on the front lines of Arlington Virginia real estate (currently 10 homes under contract as of 4/9/2010) my team has a good feel for cutting edge market trends all over Northern Virginia--especially with the Arlington condo market.  After all we work 95% with buyers so we are constantly anaylzing comps and market data to see what is the most aggressive offer we can make for our buyers and still get a response from the Seller (a counter offer).  And my agents or myself will work with a few buyers in a row dealing with a niche of real estate in terms of location and price range so we know the day a new listing comes on the market if it will sell that week and what it's really worth.

I'll use 2 Arlington condos as examples but there are likely others.  One thing is certain the market is strong and real estate is hyperlocal so other buildings may be flat.

Continental Condo in Arlington Virginia Recovers Value in 2010

One of my favorite condos is the Continental Condo in Ballston on the orange line corridor.  Built in 2003 it's one of the classiest buildings in Arlington and nicer than most newer buildings built since 2006.  Back in 2009 values for most 2BR 2BA condos 1150-1300 sq ft dropped down to $480-500,000.  It was bizarre in some ways with some freaky sales by distressed owners giving their property away.  I represented a buyer and told them this home you're purchasing is really worth more than this purchase price.  Don't think they believed me, but they now have $40,000 equity 8 months later.

As you can see from the net price column those Continental condos listing in 2009 were closing in the upper $480s generally.  Those listing in 2010 (red arrows) have sold for $525000 or are under contract for $525,000ish.   That's a solid 5% bump which really represents a recovery to the true values of the building.

Odyssey Condo in Arlington Virginia Real Estate Increases in Value 2-3% 2010

 The Odyssey condo in Arlington near courthouse is also one of my favorites and the 1 BRs had dipped down to $350-360,000 with some selling down to $335,000.  That's nuts!  The values for those units listing in 2010 are back to $380,000 which makes much more sense.

 The Rest of Arlington Virginia Real Estate

If I had time it would be interesting to compare some more buildings, but now that JustNewListings.com Realty, Inc. is up and running time is short.  Now hiring by the way full time agents with a track record of protecting buyers from overpaying....Principal brokers also wanted in markets outside of DC metro for licensing or franchising opportunities.

17 Responses to "Arlington Virginia Condos homes for sale bump up 5% -- Strong Market Continental & Odyssey Condo"

J wrote:
I live in the Continental and the prices for 1-bedroom condos (752sq feet) have tanket. I bought my place for 375k in 2006; in 2008 the property fell to 310k, and last year down to 310k. What is going on? Do you have any figures for The Continental one-bedrooms?

Posted on Monday, April 12th, 2010 at 9:28 AM.

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Arlington VA Custom Homes wrote:
Thank you for the interesting and insightful article. As an experienced Virginia custom home builder, I have also seen the market values fluctuate for properties--even dipping to prices far lower than what they are worth. Although this was certainly influenced by the dwindling economy, but perhaps homeowners were always looking to flip the property in the first place? Many who invest in custom modular homes are looking to reside there for many years, but others see it as a money-making investment. Regardless, people still need places to live. And, as Arlington is so close to Washington DC, residents are coming and going all the time anyways. Hopefully once the economy balances, we can get them to stick around.. and values will go up.

Posted on Monday, April 12th, 2010 at 9:40 PM.

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Jay Seville

Can you do 6500 sq ft custom modulars? Have any floorplans or a gallery to see?

j

Posted on Monday, April 12th, 2010 at 9:56 PM.

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Jay Seville

"J", not sure what you're talking about. Look at bottom right column here http://www.justnewlistings.com/idx/mris/AR7271922/details.html for latest 1BR activity. They are mostly selling for $350,000 and have been for about 5 months.

Here's more detailed link but it will expire in 30 days: http://arlington-condos.9mp.com/0qDXM

Posted on Tuesday, April 13th, 2010 at 8:12 AM.

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Arlington VA Custom Homes wrote:
We can do pretty much anything you can imagine in a home through the modular process; there have been beautiful modular mansions built in the Hamptons that exceeded 12,000 sq ft (see Modular Mansions: http://www.amazon.com/Modular-Mansions-Sheri-Koones/dp/1586857126). The design considerations typically come in the form value engineering because modules have maximum heights and widths. It's a "how to slice the pie" process, and the goal is to design a home that modulates efficiently, but there is very little that can't be achieved in residential construction through modular means. We design most of the homes we build to our clients' specifications, lots, and lifestyles, so we don't keep a gallery of plans; they're one-of-a-kind. Not to say we wouldn't ever re-use a plan, but the lot conditions, clients, etc., would have to almost be identical for that to happen (unlikely). That said, you can Google "house plans" for off-the-shelf designs to get ideas or visit any number of sites that show different home plans, then come to us to design the custom home that will fit your specific needs, lifestyle, and budget.

Posted on Tuesday, April 13th, 2010 at 11:45 AM.

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Jay Seville

do you have somebody who you recommend in Wilmington NC area???--we own 2 pieces of land there and likely will move there in a few years where I'll likely have another JustNewListings.com Realty running.

Posted on Tuesday, April 13th, 2010 at 3:52 PM.

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wrote:
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Posted on Thursday, April 15th, 2010 at 1:34 PM.

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Jim Johnson,CRS wrote:
It looks like a good time to buy in your area. I hope you have a good year.

Posted on Friday, April 16th, 2010 at 11:05 PM.

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Chris DiZebba wrote:
Jay,

I live across the street from the Continental in Westview at Ballston. I paid $354k in May 2006 (the developer also paid my closing costs and gave me a $15000 toward my first trust mortgage). I consulted a realtor a few weeks ago. She showed me some comps, with most places selling in the mid 330's. Any opinion on this buidling and where you think values will go in the next 12-24 months?

Posted on Thursday, June 17th, 2010 at 10:29 AM.

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jjones444 wrote:
It is nice that we have started to see more homes for sale that are not foreclosures. For a while there it seems like every home I saw for sale was foreclosed and bank-owned, which gives new buyers a great price, but at the cost of a family losing their home. I don't know if I could buy a foreclosed home because the story behind the foreclosure would most likely be sad and make me feel guilty about it. It is nice to see things picking back up in this economy!

Posted on Friday, January 7th, 2011 at 2:29 PM.

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Hunter Thompson wrote:
It has been interesting to me to watch the condo market as the recession has taken it's toll on real estate. I wonder how long it will be to see actual homes for sale in some of these areas. Either way, though, it's good to see that something is bouncing back.

Posted on Friday, February 18th, 2011 at 10:44 AM.

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Homes for Sale wrote:
Thanks for posting this great news! Anything that indicates the return of a stronger housing market is welcome. There have been a lot of fluctuations and rapid rising and falling over recent years.

Posted on Wednesday, March 2nd, 2011 at 5:04 PM.

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Mais Homes for Sale wrote:
Thanks for sharing such useful information! I love to look at homes for sale and it is comforting to know that in some areas the housing market is rising again. http://realtrep.com

Posted on Thursday, March 10th, 2011 at 12:23 PM.

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Shyloh Homes For Sale wrote:
Thank you for sharing this information! I have been looking for homes for sale in this area! i visited once as a kid and I have always wanted to move here! I am glad the market is being so well.

Posted on Wednesday, April 6th, 2011 at 2:31 PM.

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Jori wrote:
This is good news I know that in Arizona we had record months for homes being sold over the last 3 months.

Posted on Friday, July 22nd, 2011 at 3:32 PM.

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Rick in florida wrote:
Glad to hear things might turn around here soon. Its sad to see so many homes for sale here in wellington. So many families hurt. Thanks for sharing!

Posted on Tuesday, July 26th, 2011 at 11:59 AM.

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Homes for Sale wrote:
There's a lot of homes being built and sold in Alberta also. I think that things are starting to get better.

Posted on Wednesday, August 24th, 2011 at 10:30 AM.

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