- Condos currently for sale: 41
- Closed sales for condos in October 2013: 31
- Average sale price: $470,617
- Average list price: $473,935
- Sales price to list price ratio: 99.3%
- Average days on the market: 15
- Number of sales currently pending: 33
- Ashton Heights and Clarendon absorption rate for condos: 1.32 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 Ashton Heights and Clarendon Condos for Sale
This condo market report takes a look at condo sales in Ashton Heights and Clarendon, two communities in Arlington, VA 22201. Ashton Heights and Clarendon condo sales are currently in an extreme seller’s market, as evidenced by the low inventory, which is 1.32 months as of today, November 12th. Between the time of my last condo market report on this area on October 26th and now, inventory has decreased significantly – it was 2.3 months at that time. The average number of days on the market for condo sales in Ashton Heights and Clarendon was 15 days in October, which was less than half the average in September. The October average was 48% below the average over the past five years in October, which was 29 days. A lower average often points to higher demand, but sometimes it can point to competitive pricing on the part of sellers. October also experienced a higher sales price to list price ratio for condo sales in this area – it was 99.3% in October, compared to 97.7% in September. This possibly points to competitive prices of Ashton Heights and Clarendon condos, as well as high demand.
That said, the contract ratio (number of pending sales compared to listings not yet under contract) for condo sales in Ashton Heights and Clarendon decreased from September to October. In September, it was 1.11 and in October it was 0.76. However, the October ratio was still higher than the average over the past five years in October, which was 0.68. Usually, a higher contract ratio points to market movement in favor of sellers, while a lower ratio shows movement toward buyers.
Condo sellers in Ashton Heights and Clarendon are in a position to take advantage of low inventory in the area. Call me on my cell phone at 703-462-0700 to request a free comparative market analysis.
Condo buyers in Ashton Heights and Clarendon should seek the services of a great buyer agent. I’m an experienced buyer agent who grew up in neighboring Falls Church City, and knows the Arlington condo market very well. Contact me so I can help you find a great condo and negotiate the best deal possible on your behalf!