This regularly scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based Realtor and Arlington resident. Please submit your questions to him via email for response in future columns. Video summaries of some articles can be found on YouTube on the Ask Eli, Live With Jean playlist. Enjoy!
Question: I’m beginning my home search and want to be within walking distance of Metro. What do my options looks like?
Answer: It’ll be interesting to see if buyers value Metro proximity differently long-term because of lifestyle and professional changes brought about by COVID. I’ve certainly noticed a reduction in the number of buyers I meet with who include being walking distance to Metro as a core requirement, but it seems that we’re quickly returning to previous buying habits so I think preferences for Metro will mostly return to pre-COVID patterns.
If you’re searching for a home in Arlington within walking distance to a Metro, it’s helpful to go into your search understanding what type of inventory you’ll find. Unsurprisingly, condo buildings dominate the market within walking distance of Metro stations, making up over 69% of total sales over the last two years.
The following table summarizes sales over the last two years within 2/3 of a mile of each Arlington Metro station. I left out the Arlington Cemetery and Pentagon Metro stops.
- The Metro with the highest average sale price is East Falls Church, but that is because it’s the only Metro station where the majority of sales within walking distance are detached homes
- Pentagon City and Crystal City, the Metro stations that make up National Landing, are the most difficult locations to find homes to purchase because so much of the surrounding housing is rental apartments
- Virginia Square has had the most homes for sale within walking distance
- Clarendon and Virginia Square are surrounded by the most expensive detached. Rosslyn and Clarendon boast the most expensive townhouse/duplex homes.
- Rosslyn’s luxury condo buildings make it the most expensive condo market by average sold price, price per bedroom, and price per square foot
- On average it costs $552 per SqFt and over $368,000 per bedroom to live within walking distance of a Metro in Arlington
If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at [email protected].
If you’d like a question answered in my weekly column or to discuss buying, selling, renting, or investing, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at EliResidential.com. Call me directly at 703-539-2529.
Video summaries of some articles can be found on YouTube on the Ask Eli, Live With Jean playlist.
Eli Tucker is a licensed Realtor in Virginia, Washington DC, and Maryland with RLAH Real Estate, 4040 N Fairfax Dr #10C Arlington VA 22203. 703-390-9460.