The Condo Report: Spotlight on Northern Virginia

In Northern Virginia, Arlington and Alexandria represent two of the hottest and historically stable real estate markets.

Epicenters for new real estate development, business, and transportation — with both jurisdictions very well connected to Washington, D.C. via Metro rail — Arlington and Alexandria’s vibrant, dense neighborhoods have cropped up all along the transportation corridors of these two close-in suburbs.

In Alexandria, residents and tourists alike are drawn to its rich history and old architecture while Arlington — home to Ronald Reagan Washington National Airport and The Pentagon — is home to the upcoming Amazon HQ2 development, which will only strengthen the consistent demand the Washington Metropolitan Area has seen over the past decade.

A notable, large-scale new development in the Eisenhower neighborhood of Alexandria is being spearheaded by real estate development and investment firm Stonebridge. A $400 Million high-rise complex that includes multiple luxury apartments and retail, the project will be anchored by a large Wegmans and will emphasize the creation of a vibrant neighborhood around transit expected to complete sometime in the Spring of 2022.

Another interesting trend in Northern Virginia is the conversion of office to housing development.

With office vacancy rates at record highs and workers being content with the work from home lifestyle, real estate developers are beginning to question the best use of commercial office properties with one specific question in mind: Is it economically (and physically) feasible to convert commercial office properties to residential?

Brookfield Residential recently announced the intention of transforming two former corporate office buildings in Old Town Alexandria into a condo development called Towngate North. In September 2021, JBG Smith abandoned part of its proposed office plans for National Landing in favor of more residential units.

Condo developments in Arlington continue to spring up, especially in the Rosslyn neighborhood where new condos just opened at The Pierce. Condo units at The Pierce range from $900,000 to more than $3 Million. Multiple other condo and rental buildings are planned or due to open soon in the area, creating more available inventory.

As reported by local news publication ARLnow, the Arlington condo market has improved from the end of 2020 and early 2021, with prices rebounding but inventory levels still being much higher than they were in the years preceding the Amazon HQ2 announcement.


TTR Sotheby's International Realty is a licensed real estate brokerage in Washington, D.C., Maryland, and Virginia.


For Your Home Base: An Inspiring Colonial Style Home in Arlington, Virginia

3155 20th Street North, Arlington, Virginia presented by Melanie Hayes of TTR Sotheby's International Realty.

Your home is more than a building or an address. It's where you experience life, connection, and growth.

And for those who seek a laid back neighborhood environment with close access to the Nation's Capital, Arlington, Virginia offers what few can match.

Explore luxury real estate and homes for sale in Arlington, Virginia presented exclusively by TTR Sotheby's International Realty »

3155 20th Street North, Arlington, Virginia presented by Melanie Hayes of TTR Sotheby's International Realty.

Designed by Robert Braddock of Red House Architects, this extraordinary property in Arlington, Virginia's Lyon Village delivers luxury at every level.

Featuring 7,800 square feet of interior living space, this stunning residence offers impeccable design and construction in one of Washington region's most desirable neighborhoods.

Learn more about 3155 20th Street North, Arlington, Virginia presented exclusively by Melanie Hayes of TTR Sotheby's International Realty »

3155 20th Street North, Arlington, Virginia presented by Melanie Hayes of TTR Sotheby's International Realty.

Inside, Shenandoah distressed variable plank hardwood floors, 10-foot ceilings with recessed lighting, and dramatic encasements create a evoke quality and craftsmanship throughout.

Outside — just steps from the gourmet kitchen — a slate back patio features meticulous landscaping, including trees, hydrangeas, and lilies that provide a sense of privacy and calm.

3155 20th Street North, Arlington, Virginia is presented by Melanie Hayes of TTR Sotheby's International Realty.

https://www.youtube.com/watch?v=Czs4IPQwvWY


TTR Sotheby's International Realty is a licensed real estate brokerage in Washington, D.C., Maryland, and Virginia.


For Your Own Space: A Sophisticated Condominium Residence in Arlington, Virginia

1615 North Queen Street #M303, Arlington, Virginia presented by Will Thomas of TTR Sotheby's International Realty.

Your home is more than a building or an address. It's where you experience life, connection, and growth.

And for those who seek a laid back neighborhood environment with close access to the Nation's Capital, Arlington, Virginia offers what few can match.

Explore luxury real estate and homes for sale in Arlington, Virginia presented exclusively by TTR Sotheby's International Realty »

1615 North Queen Street #M303, Arlington, Virginia presented by Will Thomas of TTR Sotheby's International Realty.

Located in the exquisite Wooster Mercer Lofts, this stunning condominium residence offers a turnkey opportunity to live the high life in the heart of Arlington, Virginia.

Featuring bespoke interiors by the legendary designer Barry Dixon, this extraordinary property is offered with full furnishings and a variety of luxury amenities.

Learn more about 1615 North Queen Street #M303, Arlington, Virginia presented by Will Thomas of TTR Sotheby's International Realty »

1615 North Queen Street #M303, Arlington, Virginia presented by Will Thomas of TTR Sotheby's International Realty.

Upon entrance, the ideals of loft living are in full effect as floor to ceiling windows flood the interior with natural sunlight and views of the private grounds just outside.

In the gourmet kitchen, a Wolf gas range and a SubZero wine refrigerator set the stage for intimate evenings at home, while the owner's suite — featuring a custom architectural headboard, leather horse bit side tables, and luxe custom bedding — presents an ideal environment for rest and relaxation.

1615 North Queen Street #M303, Arlington, Virginia is presented by Will Thomas of TTR Sotheby's International Realty.

https://www.youtube.com/watch?v=t8OwdMXqOts


TTR Sotheby's International Realty is a licensed real estate brokerage in Washington, D.C., Maryland, and Virginia.


For Your New Memories: A Charming Colonial Residence in Arlington, Virginia

3118 17th Street North, Arlington, Virginia presented by Ruth Boyer O'Dea of TTR Sotheby's International Realty.

Your home is more than a building or an address. It’s where you experience life, connection, and growth.

And for those who seek a laid back neighborhood environment with close access to the Nation's Capital, Arlington, Virginia offers what few can match.

Explore luxury real estate and homes for sale in Arlington, Virginia »

3118 17th Street North, Arlington, Virginia presented by Ruth Boyer O'Dea of TTR Sotheby's International Realty.

The subject of a complete renovation in 2012, this charming colonial residence in Arlington, Virginia offers sophistication and convenience.

Located in Arlington, Virginia's desirable Lyon Village neighborhood, this extraordinary property offers space and premium amenities throughout its 3,800 square feet of interior living space.

Learn more about 3118 17th Street North, Arlington, Virginia »

3118 17th Street North, Arlington, Virginia presented by Ruth Boyer O'Dea of TTR Sotheby's International Realty.

An ideal entertaining space, this stunning home features abundant natural light which dances off of the home's hardwood floors, classic design details, and neutral tone paint.

Across its four finished levels, this home features four bedrooms, five full bathrooms, and a den that can double as a home office.

With two laundry areas, an electric car charging station, and an ideal location along a tree-lined, you won't want to miss this rare opportunity to live in one of the Washington Metropolitan Area's most desirable communities.

3118 17th Street North, Arlington, Virginia is presented by Ruth Boyer O'Dea of TTR Sotheby's International Realty.


TTR Sotheby's International Realty is a licensed real estate brokerage in Washington, D.C., Maryland, and Virginia.


For Your Dream View: An Inspiring Penthouse Residence in Arlington, Virginia

1881 North Nash Street #TS01 Arlington, Virginia presented by Jonathan Taylor of TTR Sotheby's International Realty.

Your home is more than a building or an address. It’s where you experience life, connection, and growth.

And for those who seek a sophisticated metropolitan lifestyle, Arlington, Virginia offers what few can match.

A close-in suburb of Washington, D.C., Arlington, Virginia is at the center of the global real estate conversation after being named the new home for Amazon HQ2.

With all eyes on Arlington, Virginia, there's never been a better time to take your home search to the next level.

Learn more about 1881 Nash Street North #TS01, Arlington, Virginia »

1881 North Nash Street #TS01, Arlington, Virginia presented by Jonathan Taylor of TTR Sotheby's International Realty.

Located in the iconic Turnery Tower residences in Arlington, Virginia, this extraordinary penthouse residence exemplifies life at the top.

Designed by architect Salo Levinas in 2013, this sophisticated penthouse residence combines award-winning design with incomparable skyline views.

Explore real estate and homes for sale in Arlington, Virginia »

1881 North Nash Street #TS01, Arlington, Virginia presented by Jonathan Taylor of TTR Sotheby's International Realty.

Featuring over 4,400 square feet of interior living space, this penthouse residence includes the finest in luxury accommodations, including 11-foot ceilings, private elevator access, and a gourmet kitchen.

As one of the Washington Metropolitan Area's finest contemporary residences, this stunning penthouse offers additional amenities, including valet parking and three private garage parking spaces.

1881 Nash Street North #TS01, Arlington, Virginia is presented by Jonathan Taylor of TTR Sotheby's International Realty.


TTR Sotheby's International Realty is a licensed real estate brokerage in Washington, D.C., Maryland, and Virginia.


A Stunning Modern Residence in Arlington, Virginia

Renovated in 2007, The Ridgeview House is replete with modern amenities and stunning architectural and design details.

Among the many desirable towns in the Washington Metropolitan Area, Arlington, Virginia offers what few can match.

With charming, walkable neighborhoods and a bustling city center featuring some of the region's most exciting restaurants and entertainment, Arlington, Virginia offers residents unmatched convenience and access to some the Washington Metropolitan Area's most desirable homes.

Learn more about 2533 North Ridgeview Road, Arlington, Virginia »

The stunning kitchen features a solid bamboo cabinet system and continuous stainless countertops.

Designed in 1952 by architect Donald Lethbridge, The Ridgeview House captures the imagination at every corner.

Featuring a sturdy, steel-frame structure, the open interior spaces of this extraordinary property are accentuated by its renticular form and expansive glass panes.

The Ridgeview House was designed in 1952 by architect Donal Lethbridge.

Sited atop a stunning half acre wooded lot — just one stop light to Washington, D.C. — this stunning residence offers over 5,500 square feet of interior living and entertainment space.

Completely renovated in 2007, The Ridgeview House is replete with modern amenities and stunning architectural and design details, including a whimsical floating staircase, movable glass walls, and a stunning mahogany doors.

2533 North Ridgeview Road, Arlington Virginia is presented by Sheri Grant of TTR Sotheby's International Realty.


TTR Sotheby’s International Realty is a licensed real estate brokerage in Washington, D.C., Maryland, and Virginia.


The Amazon Effect: Exploring HQ2's Impact on the Washington Metropolitan Area's Real Estate Market

As reported today by The Wall Street Journal, Amazon, the world's largest technology company, announced the locations of its newest corporate headquarters.

Dubbed HQ2, Amazon will deliver new corporate outposts in New York, New York and Arlington, Virginia.

The announcement, which introduces new jobs and infrastructure to the Washington Metropolitan Area, presents serious questions about the impact on home values and the real estate market at large.

To help understand the impact of Amazon HQ2 on the Washington Metropolitan Area's housing market, we spoke with Mark C. Lowham, CEO and Managing Partner of TTR Sotheby's International Realty.

4075 35th Street North, Arlington, Virginia presented by Holly Tennant of TTR Sotheby's International Realty.

Manage Expectations

While Amazon's selection of the Washington Metropolitan Area will undoubtedly result in an increase in demand for housing, the planned 25,000 jobs will likely be filled over the course of the next three to five years. So while the immediate impact on the local marketplace will be meaningful, consider managing expectations around a sudden boom scenario.

Supply and Demand

Throughout the Washington Metropolitan Area, the housing inventory pipeline remains relatively fixed. As a result, it will take several years for new projects to move through the development pipeline. While we can expect more competition and upward pressure on prices in the existing rental and for sale housing market, it's important to understand the near and long term effects.

Furthermore, location matters. As a result, submarkets with access to public transportation and proximation to Arlington and Crystal City will likely be impacted most by the move in the immediate and long term.

How Amazon's HQ2 Announcement Could Affect Your Rent »

4036 35th Street North, Arlington, Virginia presented by Donna Martin of TTR Sotheby's International Realty.

Find a Trusted Broker

Each year, thousands of military personnel, government employees, and professionals from the world’s leading corporations relocate to the Washington Metropolitan Area.

When considering a personal or professional relocation, it's advisable to consult with an experienced real estate professional in your target marketplace.

With seven real estate offices across Washington, D.C., Maryland, and Virginia, TTR Sotheby’s International Realty offers a best in class relocation platform, including partnerships and preferred broker relationships with some of the world’s leading corporate relocation companies, including Cartus, SIRVA, and Graebel.

What Amazon's HQ2 decision will mean for the area's real estate market » 

2323 Ridgeview Road North, Arlington, Virginia presented by Daniel Heider of TTR Sotheby's International Realty.

Finally, as we welcome our friends from Amazon to the Washington Metropolitan Area, we are reminded of the power of the Sotheby’s International Realty network.

Offering unparalleled access to the world’s finest homes, TTR Sotheby’s International Realty’s 450 real estate professionals are uniquely positioned to help buyers and sellers alike navigate the dynamics of our ever-changing real estate market.

Alongside our colleagues at Daniel Gale Sotheby’s International Realty, whose service areas include Long Island, Queens, and Suffolk, we encourage you to reach out for a personal consultation on what Amazon HQ2 means for you and the market at large.


TTR Sotheby’s International Realty is a licensed real estate brokerage in Washington, D.C., Maryland, and Virginia.