Orange Line Corridor “Double-dip”: Some Perspective

I am here only to add a caveat to my post on Tuesday, troche which suggested that the Orange Line Corridor condo market in Arlington had already seen a double-dip in prices, and was possibly even heading the direction of a triple dip. If you read that post chances are you came out of it feeling that things must be pretty dire for condo owners on the Orange Line.

That point may be true, but I wanted to add a key additional statistic to shed some additional light on things.

Currently there are only 3 active short sale listings along the entire corridor from the Potomac to Glebe Rd. Based on the data a shared the other day, that is an incredibly low number. In the last 90 days there have been 6 closed short sale deals. Again, a low number considering the data shared on Tuesday. Based on the data one would almost expect every listing to be from a distressed owner.

However, not only are there so few short sale listings, but there are 0 (zero) foreclosure listings (with the exception of one at the Jefferson Retirement Community).

My research is ongoing, but for whatever reason condo owners along the Orange Line are finding ways to weather this storm. Be it an ability to keep up with payments and sticking things out, finding tenant occupants, or just brute financial force, folks are keeping the area from becoming a truly distressed market.

Are you a condo owner along the Orange Line in Arlington? I would love it if you would take a moment and give us your perspective on the market, and what you and your peers are doing to keep afloat.

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