Buy Alexandria Real Estate: February 2012

The Arlington condo market is really hot!  Condos are selling throughout Arlington with multiple offers and the inventory is very low.  Here's some stats about Arlington Virginia condominium sales and inventory for February 2012.

Currently there are 207 condos on the market for sale in Arlington.  That may seem like a lot, but considering that 216 Arlington condos sold in the last 90 days, 207 is not that many...  54 sold in the last 30 days alone.  Based on the 90 day numbers, there's only about a 2.875 month inventory of Arlington condos.

The condos for sale in Arlington range in price from $79,000 to $4.15 million with an average listing price of $512,397 (considerably higher than neighboring Alexandria).  Here's the breakdown by size of the condo:

One Bedroom Arlington Condos

69 on the market

Price range from $79K to $855K

Average listing price $329,287

Two Bedroom Arlington Condos

107 on the market

Price range from $170K to $2.05 million

Average listing price $536,038

Three Bedroom Arlington Condos

21 on the market

Price range from $350K to $4.15 million

Average listing price $1,072,521

Over the last 30 days the average final sales price of Arlington condos that sold was $444,413.    On average Arlington condo sellers are obtaining 95.03% of their original listing price -- showing that there's still quite a bit of room for negotiation. 

Condos sold in an average of 53 days on the market.  From surveys that have come back from sellers that have worked with my office, the average expectation for a sale is 60-90 days, so Arlington condos are selling fairly quickly which is pleasing to sellers!

The chart below shows the condominium complexes in Arlington with the highest number of units on the market. (Note: Jefferson Retirement is a 55+ retirement community in Ballston)

Interested in buying a condo in Arlington?  Search for Arlington condos here.

Thinking about selling your Arlington condo or just want to know the value?  Confidential and free market analysis of your condo's market value.

The Alexandria condo market is hot!  Condos are selling throughout the city and the inventory is quite low.  Here's some stats about Alexandria Virginia condominium sales and inventory for February 2012.

Currently there are 176 condos on the market for sale in Alexandria.  Considering that 185 Alexandria condos sold in the last 90 days, 176 is not that many...  46 sold in the last 30 days.  Based on the 90 day numbes, there's only about a 2.85 month inventory of Alexandria condos.

The condos for sale in Alexandria range in price from $100,000 to $2.1 million with an average listing price of $363,058.  Here's the breakdown by size of the condo:

One Bedroom Alexandria Condos

62 on the market

Price range from $100K to $450K

Average listing price $255,627

Two Bedroom Alexandria Condos

93 on the market

Price range from $135K to $1.45 million

Average listing price $375,819

Three Bedroom Alexandria Condos

19 on the market

Price range from $179.9K to $1.55 million

Average listing price $561,955

Over the last 30 days the average final sales price of Alexandria condos that sold was $269,469.  From this you can see that the lower end of the market is selling more readily and briskly than the higher end of the condo market in Alexandria.  On average Alexandria condo sellers are obtaining 93.49% of their original listing price -- showing that there's still quite a bit of room for negotiation.  However, some of that number for January is likely skewed from price reductions that occurred towards the end of 2011 or the beginning of the new year.

Condos sold in an average of 70 days on the market.

The chart below shows the condominium complexes in Alexandria with the highest number of units on the market.

Interested in buying a condo in Alexandria?  Search for Alexandria condos here.

Thinking about selling your Alexandria condo or just want to know the value?  Confidential and free market analysis of your condo's market value.