01-25-09 Shirlington Village = Market Snapshot

There have been no SOLD properties of record this year for Shirlington Village, so let's talk about what's available. I have data on 2 units that are available for purchase. There is a one bedroom 2 bathroom with over 1000 square feet that his been on the market for over 150 days. Then there is a one bedroom one bathroom model that has been on the market for just about as long, save a few days. Both are located on the seventh floor.

While there has been 1 property rented this month. It was a 2 bedroom 2 bathroom model that rented for $2,200/month, when asking $2,300. There are two times as many AVAILABLE RENTALS compared to the available sales. So a total of 4 that are available to rent. See the data below, it's a smattering of unit styles. You will notice some similar addresses because the two above that are available for PURCHASE are also available for RENT. In addition to those there are 2 other homes for rent, one on the tenth floor, and one on the eighth floor.

(Data from MRIS)

November Recap for Shirlington Village

Harris Teeter is still staying strong. They're opening up a bunch of other locations across the region very soon. Why do I mention it. Well, there's not much to talk about in real estate transactions in 2720 Arlington Mill Drive, south for November.

There were 0, yes zero, sales for November 08. So I can't reference particular models selling better, or being more appealing. I can't talk about average days on market. I can't even talk about sold price to list price ratios. Because there were not SOLD properties for November.

There was one property that rented in November. It was a 2 bedroom model. It rented for $2,299/month. The property was on the market for 54 days. That is the high, low, and average days on market for rentals this month.

Let's hope that a holiday present this year is a little more real estate action!

(data from MRIS)

Attempted Sales to Rentals

Nothing has SOLD in the building (*based on MRIS data, as are all other data points mentioned in this blog post) since the end of July. There is nothing under contract as well. On the norm it takes 30-60 days on the norm to get from contract to settlement. So at this rate there will be no SOLD properties, even if one of those listed gets a contract tomorrow, until November or December.
And this time of year isn't really known for the pick up in real estate sales. That independant of itself would be enough to make sellers get the serious face, but then we also have everything that's happening on the news.
So what's going to happen?!
Well no one knows. And anyone who says they do is full of baloney. I haven't met anyone who can predict the future yet.
I do know what is happening right now, and what tends to happen, when sellers can't sell. Those properties become rentals.
#512 + #715 have bothe been listed for sale. They are still listed for sale. However, they are also now recently listed for rent.
While #811, which was listed for sale for 59 days, is no longer available to buy. Yet it is fresh on the market to rent.
Shirlington is still a great place to live (and play!). That's a fact. But here as well as anywhere else, when sellers can't sell they try to rent.