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Crystal City, Virginia looks like a serious contender. Credit: GettyGetty
According to recent press reports, Amazon is considering splitting its long-awaited head office headquarters between the two cities. Crystal City, in northern Virginia (about 3 km south of downtown Washington), New York City (Long Island City in Queens) and Dallas, which is now in last place, are part of the news cycle .
Realtor.com Chief Economist Danielle Hale gave an overview of these local real estate markets in anticipation of Jeff Bezos' upcoming announcement. "Each city is part of a large metropolitan area with a skilled workforce and a technology industry. Regardless of the market chosen, residents can expect a significant increase in house prices, especially in the immediate vicinity. "It's an intoxicating news for owners and sellers.
Crystal City, in Arlington County, Virginia, where the median price, according to Realtor.com, exceeds $ 600,000 seems to be a serious contender. "Crystal City is on two subway lines, expanding Alexandria's choice of homes in Franconia and Springfield. Over the last five years, many apartment, condominium and townhouse projects have been completed around Potomac Yard, which has added options, making Crystal City attractive, "says Hale.
Koki Adasi, a longtime real estate agent in the Washington area and president elected in 2018 for the Association of Real Estate Agents of the Federal Capital Region, thinks that a Crystal City site will clearly benefit homeowners and homeowners. to sellers of houses and apartments. "Crystal City makes sense. If this happens, there will be an influx of people looking to rent and buy in the market. This is also a very good thing for real estate agents in the area. It is a small market and if demand rises, inventories decline and prices are likely to increase. (Crystal City is not really a surprising candidate, Bezos owns the Washington Post).
Long Island City makes sense for several reasons. Photo credit:Getty
It is rumored that Long Island City in New York, just off the East River in Queens, is also a final candidate. "This location has seen luxury prices rise by 15% despite declines in other boroughs in New York City," Hale noted, looking at the numbers. The median home price of Realtor.com in New York is currently $ 1.1 million and $ 600,000 in Queens County. Long Island City is an easy ride from many directions. Amazon employees could also live further in Queens, where prices are lower and travel by subway, "added Hale.
Going west of Dallas, the median home price of realtor.com is $ 335,456. This is above the national median of $ 295,000, while staying below the median prices of Crystal City and Queens. "The choice of Dallas among Amazon's HQ2 cities would transform the real estate landscape. An advantage for Dallas is that it has more land for new homes, "says Hale. If Dallas is chosen, Amazon buyers will have more home for their money. "It definitely offers bigger options at lower prices," confirms Hale.
Realtor.com has also reported a sharp increase in the number of online list views at popular HQ2 locations. After receiving one of the best locations, the pages consulted by Realtor.com in Arlington County, where Crystal City is located, Nov. 3-6, were 40.5% higher than the same 4-day period in the last three months. Realtor.com also viewed Queens' page views on November 6, indicating that they were 88.1% higher than the Tuesday average of the last three months.
The long-awaited announcement should be coming soon. Expect a rise in house prices in selected cities.
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Crystal City, Virginia looks like a serious contender. Credit: GettyGetty
According to recent press reports, Amazon is considering splitting its long-awaited head office headquarters between the two cities. Crystal City, in northern Virginia (about 3 km south of downtown Washington), New York City (Long Island City in Queens) and Dallas, which is now in last place, are part of the news cycle .
Realtor.com Chief Economist Danielle Hale gave an overview of these local real estate markets in anticipation of Jeff Bezos' upcoming announcement. "Each city is part of a large metropolitan area with a skilled workforce and a technology industry. Regardless of the market chosen, residents can expect a significant increase in house prices, especially in the immediate vicinity. "It's an intoxicating news for owners and sellers.
Crystal City, in Arlington County, Virginia, where the median price, according to Realtor.com, exceeds $ 600,000 seems to be a serious contender. "Crystal City is on two subway lines, expanding Alexandria's choice of homes in Franconia and Springfield. Over the last five years, many apartment, condominium and townhouse projects have been completed around Potomac Yard, which has added options, making Crystal City attractive, "says Hale.
Koki Adasi, a longtime real estate agent in the Washington area and president elected in 2018 for the Association of Real Estate Agents of the Federal Capital Region, thinks that a Crystal City site will clearly benefit homeowners and homeowners. to sellers of houses and apartments. "Crystal City makes sense. If this happens, there will be an influx of people looking to rent and buy in the market. This is also a very good thing for real estate agents in the area. It is a small market and if demand rises, inventories decline and prices are likely to increase. (Crystal City is not really a surprising candidate, Bezos owns the Washington Post).
Long Island City makes sense for several reasons. Photo credit:Getty
It is rumored that Long Island City in New York, just off the East River in Queens, is also a final candidate. "This location has seen luxury prices rise by 15% despite declines in other boroughs in New York City," Hale noted, looking at the numbers. The median home price of Realtor.com in New York is currently $ 1.1 million and $ 600,000 in Queens County. Long Island City is an easy ride from many directions. Amazon employees could also live further in Queens, where prices are lower and travel by subway, "added Hale.
Going west of Dallas, the median home price of realtor.com is $ 335,456. This is above the national median of $ 295,000, while staying below the median prices of Crystal City and Queens. "The choice of Dallas among Amazon's HQ2 cities would transform the real estate landscape. An advantage for Dallas is that it has more land for new homes, "says Hale. If Dallas is chosen, Amazon buyers will have more home for their money. "It definitely offers bigger options at lower prices," confirms Hale.
Realtor.com has also reported a sharp increase in the number of online list views at popular HQ2 locations. After receiving one of the best locations, the pages consulted by Realtor.com in Arlington County, where Crystal City is located, Nov. 3-6, were 40.5% higher than the same 4-day period in the last three months. Realtor.com also viewed Queens' page views on November 6, indicating that they were 88.1% higher than the Tuesday average of the last three months.
The long-awaited announcement should be coming soon. Expect a rise in house prices in selected cities.
