December 04, 2007

Condos in Arlington Virginia: How Much Do They Cost?

A look at condo prices in Arlington, Virginia

Nearly half of the homes currently on the market for resale in Arlington, Virginia are comprised of condominium units. And there are still more being built...

For many who cannot afford the price of single family homes and townhouses in Northern Virginia, and especially in close-in Arlington County, condo living becomes a suitable option. For many Arlington residents, condominiums are the home of choice, with the draw of low maintenance, easy access to public transportation (especially along the Metro's Orange Line from Rosslyn to Ballston), and the convenience of being walking distance to shops and restaurants.

Condominiums are available in all price ranges throughout Arlington County in garden style, mid-rise, and high-rise buildings.

How much do condos in Arlington cost?

In November 2007, there were 59 sales of condos in Arlington at an overall average price of $390,236. Taking into account the average seller subsidy of $4,053, the average net sales price was $386,183 -- equivalent to 97.51% of the listing price.

Compare this with neighboring Alexandria which saw 54 condo sales in November at a much lower average sales price of $315,415, and a net after seller subsidy of $310,750. A bit more negotiating room in Alexandria with sales price to listing price ratio of 96.40%. For more details on prices in Alexandria, see Condos in Alexandria: How Much Do They Cost?

Of the 422 condos currently on the market in Arlington, there are:

5 studio condos at an average listing price of $191,280
151 one bedroom condos at an average listing price of $302,426
230 two bedroom condos at an average listing price of $474,988
34 three bedroom condos at an average listing price of $679,094

Here is a detailed cost summary of the asking prices of currently available units for some of the most popular condominiums in Arlington broken down by number of bedrooms and style:

Garden Style Condos (1-4 floors):

Condominium	1 BR Avg. Price	2 BR Avg. Price
Arlington Oaks	$227,983	$339,990
Colonial Village	$287,445	X
Ft. Myer Heights	$374,995	$439,995
George Mason Village	$195,467	$218,740
Heatherlea	$285,000	X
Park Glen	X	$254,653
The Arlington	X	$316,983
Windgate of Arlington	$298,750	X

Mid-Rise Condos (5-8 floors):

Condominium	1 BR Avg. Price	2 BR Avg. Price	3 BR Avg. Price
Adams House	$264,000	X	X
Astoria Condos	X	$419,333	X
Columbia Knolls	X	$203,333	$325,000
Memorial Overlook	X	$1,391,000	X
The Chatham	$229,000	$322,375	X
Westlee	$397,930	X	X
Windsor Plaza	X	$475,975	X

High-Rise Condos (9+ floors):

Condominium	1 BR Avg. Price	2 BR Avg. Price	3 BR Avg. Price
Atrium Condos	$447,500	$582,000	$929,000
Ballston 880	$375,000	$449,100	X
Belvedere	$357,500	$572,600	X
Clarendon 1021	$429,144	$620,667	X
Continental	$382,333	$432,450	X
Odyssey	$473,697	$597,667	$1,650,000
Station Square	$424,450	$632,941	X
The Carlton	$220,920	$224,600	X
The Hawthorn	$440,000	$630,000	X
The Representative	X	$561,240	$1,097,500
Tower Villas	$414,475	$504,780	X
Williamsburg	X	$651,300	X