Amazon HQ2 Real Estate Analysis
The following information is as of 12/5/18.
These are properties available within the 20 min driving distance from the National landing. The properties are located in both Arlington and Fairfax County.
Furthest south from National landing is Springfield, VA and furthest west is Arlington, VA. For all cities included in this analysis, please contact us at 703-479-0095.
There are a total of 278 properties available. Of which, there are 167 Condo/Coops and 111 Non-Condo/Coops available. (Non-condo/coops include townhomes, single family homes)
Out of total 278 properties, the following are number of properties per bedroom count.
Studios: 12 units
1 bedroom: 77 units
2 bedrooms: 65 units
3 bedrooms: 52 units
4 bedrooms: 29 units
5+ bedrooms: 43 units
There are currently 33 total properties that are pending/under contract. Of which, none are condo/coops and all 33 properties are non condo/coops.
For the month of November (2017), there were a total of 277 closed properties.
Of which, 160 properties were condo/coops and 117 units were non condo/coops. The average price for the units sold in 2017 is $543,389. The average amount of days the properties stayed on the market was 145 days.
For the month of November (2018), there were a total of 233 closed properties.
Of which, 128 properties were condo/coops and 105 units were non condo/coops. The average price for the units sold in 2018 are $553,119. The average amount of days the properties stayed on the market was 68 days.
Even though the number of the properties sold in 2018 is less then 2017, the average price of the homes is higher in 2018. This shows that the homes were sold at a higher price even though there were less homes sold in 2018 which shows that the price of homes are rising.
I suspect that the people were holding off on the sale of their homes in November due to the anticipation of the Amazon HQ2 news. I predict number of properties will only rise from this point.
Please contact me if you are interested in purchasing in this area. If you are in a need to sell, please contact me as well!
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Disclaimer: The report is based on and rely on the information provided in MRIS. If you need to use any of the information/graphics, please tag/quote Yon Chung, Realtor and do not crop off the logos.
Yon Chung, CPA, Realtor is a full time real estate agent based in McLean, Virginia (Capital Area Homes | Keller Williams Realty). She personally invests in real estate around Northern Virginia and out of state. Yon Chung serves sellers and buyers of primary homes and investment properties in Fairfax County.
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