Clarendon-Courthouse Real Estate Market Update for July 2010 – Prices Up and Stabilizing
Clarendon-Courthouse area, defined typically by the zip code 22201 from VA Square to Courthouse, Rt 50 to Rt 29, is usually one of the most popular areas along the Orange Line, and the area of several new construction projects in North Arlington. You can also read DC’s UrbanTurf Spotlight on Clarendon for more information. So how has the real estate market in this area survived over the past month compares to last year?
It appears Clarendon/Courthouse real estate is on the rise from last year. In July 2010, 47 properties changed hands, of which only 1 was a short sale. Last year, July 2009 saw 1 foreclosure and 2 short sales close of the 67 total. So how do the numbers breakdown?
1 Bedroom Condos
Average Net Sale Price 2010: $354,513 after 42 days
Average Net Sale Price 2009: $327,991 after 49 days
2 Bedroom, 2 Bath Condos
Average Net Sale Price 2010: $520,522 after 72 days
Average Net Sale Price 2009: $518,620 after 60 days
Average Net Sale Price 2010: $662,800 after 61 days (range: $474,900 – $875,000)
Average Net Sale Price 2009: $729,000 after 20 days (range: $560,000 – $965,000)
Single Family, Detached
Average Net Sale Price 2010: $899,408 after 54 days (range: $386,000 – $1,585,000)
Average Net Sale Price 2009: $750,844 after 63 days (range: $456,000 – $1,670,000)
You can see prices are up across the board, except townhomes. I actually find this to be surprising, but the inventory for townhomes last summer was almost nothing so that drove up prices (as you can see from the short days on the market period).