This market report analyzes sales of Belle Haven and Belle View condos, as well as condo sales in other communities in Alexandria, Virginia 22307.
- Condos in Belle Haven and Belle View currently for sale: 16
- Closed sales for Belle Haven and Belle View condos in October 2013: 4
- Average sale price: $218,250
- Average list price: $225,232
- Sales price to list price ratio: 96.9%
- Average days on the market: 46
- Number of sales currently pending: 4
- Absorption rate for Belle Haven and Belle View Condos: 4 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 Belle Haven and Belle View Condos
Belle Haven and Belle View condo sales are in a mild seller’s market, as evidenced by the current inventory, which is 4 months as of today, December 18th. Inventory tightened between the last time I blogged about condo market here on November 24th, when it was 6.33 months. The average number of days on the market for condos in Belle Haven and Belle View was 46 days in November, which represented a decrease from the October average of 51 days. A lower average can sometimes signify higher demand, but it can also result from sellers pricing their homes more competitively.
The contract ratio is another important market indicator to study. It is the number of pending sales compared to the number of active listings that haven’t gone under contract yet. In November, the contract ratio for sales of Belle Haven and Belle View condos was 0.32, which represented hardly any change from last month or from November of 2013. A higher contract ratio points to market movement in favor of sellers, while a lower contract ratio points to market movement in favor of buyers.
If you own a condo in Belle Haven or Belle View and are curious about how much it’s worth, call me at 703-462-0700. I’ll prepare a free market analysis that will give you a good idea of your property’s value.
If you’re looking to buy a Belle Haven or Belle View condo, you should work with a great buyer agent. I’m an experienced buyer agent who grew up in the area and is very familiar with the Alexandria condo market.
To search for more condos in Alexandria VA, enter what you’re looking for into the “Quick Property Search” form above and to your right.