Condo Market Snapshot of the Rosslyn-Ballston Corridor

• May 25th 2011

by UrbanTurf Staff

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Resales of condos in the Rosslyn-Ballston corridor have softened a little this year, according to a recent report from real estate sales and marketing firm Mayhood Realty. Sales in the area are down three percent year-to-date compared with 2010. Specifically, about 21 condos have sold each month this year, whereas in 2010 an average of 26 units sold monthly. Mayhood aggregated condo resales data from 22 buildings up and down the RB Corridor to draw its conclusions.

The Mayhood report stated that the average price per square foot for a resale condo in the RB Corridor is $472, similar to pricing one might see in Columbia Heights. The condominium commanding the highest price per square foot ($563) in the area is Station Square, which isn’t surprising given its location next to Market Common, Whole Foods, and the Clarendon Metro station (map). The second most expensive building is The Williamsburg at 1276 North Wayne Street near the Courthouse Metro (map) with a price per square foot of $551. The building with the most activity is The Belvedere in Rosslyn (map). So far, 12 units have sold there this year.

There isn’t much new inventory available in the RB Corridor as most buildings that delivered during the condo boom have sold out and new development is only now starting to occur again. That said, three new projects are selling. Rhodes Hill Square, a large townhome project in Rosslyn, has sold 22 units this year, according to its sales and marketing firm Urban Pace; Gaslight Square, a 117-unit luxury project has over $11 million since the project broke ground in January, according to McWilliams|Ballard; and Turnberry Tower, the luxury high-rise in Rosslyn being sold by Mayhood, has sold 49 units so far this year.

This article originally published at https://dc.urbanturf.com/articles/blog/condo_market_snapshot_in_the_rosslyn-ballston_corridor/3523.