- Condos currently for sale: 84
- Closed sales for condos in October 2013: 31
- Average sale price: $241,303
- Average list price: $247,999
- Sales price to list price ratio: 97.3%
- Average days on the market: 39
- Number of sales currently pending: 55
- Landmark and Cameron Station Absorption rate for condos: 2.71 months of inventory. A normal, or balanced absorption rate is 5-7 months of inventory. Less than 5 months of inventory is indicative of a seller’s market, while more than 7 months of inventory is indicative of a buyer’s market.
Currently Listed Cameron Station and Landmark Condos for Sale
This condo market report analyzes sales of condos (not townhouse or detached home sales) in Landmark and Cameron Station, two communities in Alexandria, Virginia 22301. Landmark and Cameron Station are currently in a seller’s market, as evidenced by the low inventory, which is 2.71 months as of today, November 21st. The average number of days on the market for condo sales in Landmark and Cameron Station was 39 in October, which was significantly lower than the average over the past five years in this area, which was 76 days. A lower average can often point to increased demand, but it can also result from sellers pricing their properties competitively.
The contract ratio (the number of pending home sales compared to the number of active listings not under contract) is another important real estate market statistic to look it. In October, the contract ratio for sales of condos in Landmark and Cameron Station was 0.62, which represented virtually no change from September and a decrease from the average contract ratio over the past five years here, which was 1.09. Generally speaking, a lower contract ratio signifies that the market is moving toward buyers, while a higher contract ratio shows that the market is moving toward sellers.
Condo sellers in Landmark and Cameron Station are still in a position to benefit from the low inventory in the area. If you’re thinking of selling your Landmark or Cameron Station condo, call me on my cell phone at 703-462-0700 to request a free comparative market analysis.
If you’re looking to buy a condo in Landmark or Cameron Station, you should find a great buyer agent to help you get the best deal possible. I’m an experienced buyer agent who grew up in Northern Virginia and has in-depth knowledge of the Alexandria real estate market.