This Ballston townhouse market report analyzes sales of townhouses (not single family, detached homes or condos) in Ballston, one of the most popular communities in Arlington, Virginia. The zip code here is 22203.
- Ballston Townhouses currently for sale: 4
- Closed sales for townhouses in Ballston in October 2013: 5
- Average sale price: $477,086
- Average list price: $472,362
- Sales price to list price ratio: 101.0%
- Average days on the market: 10
- Number of sales currently pending: 6
- Ballston Absorption rate for townhouses: 0.8 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 Ballston Townhouses
Ballston townhouse sales are in an extreme seller’s market, with only 0.8 months of inventory as of today, December 3rd. The average number of days on the market for Ballston townhouse sales was a staggeringly low 10 days in October, which was 72% below the average over the last five years in October, which was 36 days. A lower average is often reflective of increased buyer demand, but it can also be impacted by sellers pricing their homes competitively. Another indication of the intensity of the seller’s market here was the sales price to list price ratio for Ballston townhouses in October, which was 101%. This means that on average, townhouses in Ballston sold for above list price in October.
When analyzing any real estate market, it’s a good idea to take into account the contract ratio, which is the number of pending sales compared to the number of active listings not yet under contract. The contract ratio for Ballston townhouse sales in October was 1.60, which was virtually the same as the September ratio and the ratio from October of 2012. It was also 81% higher than the average over the past five years in October, which was 0.88.
If you own a townhouse in Ballston and you’re considering selling, give me a call on my cell phone at 703-462-0700 and ask me for a free comparative market analysis. Sellers are in a great position to benefit from the extremely low inventory.
If you’re in the market for a Ballston townhouse, you should find a great buyer agent to help you navigate this extremely competitive buying environment. I’m an experienced buyer agent who grew up in Falls Church City and knows the Ballston real estate market very well.