- Condos currently for sale: 19
- Closed sales for condos in October 2013: 3
- Average sale price: $220,500
- Average list price: $228,734
- Sales price to list price ratio: 96.4%
- Average days on the market: 51
- Number of sales currently pending: 7
Belle Haven and Belle View condo Absorption rate: 6.33 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 & Belle View Condos
This condo market report analyzes sales of Belle Haven and Belle View condos, and condo sales activity in other areas in Alexandria, Virginia 22307. Belle Haven and Belle View are in a balanced market, as evidenced by the inventory, which is 6.33 months as of today, November 24th. The average number of days on the market for Belle Haven and Belle View condo sales increased dramatically from September (16 days) to October (51 days). However, the October average was still slightly lower than the average over the past five years in October, which was 54 days. A higher average can often point to lower buyer demand, but it can also be reflective of sellers overpricing their homes. Especially since inventory hasn’t changed much in the last month, I would venture to guess that the increase was mainly due to the latter.
Those of you who have been reading my market statistic posts know that it’s important to analyze the contract ratio. This ratio is the number of pending home sales compared to the number of active listings that are not under contract yet. The contract ratio for Belle Haven and Belle View condo sales in October was 0.30, which represented virtually no change from September and no change from October of 2012. However, it was slightly lower than the average contract ratio over the past five years here, which was 0.42. A lower contract ratio points to market movement in favor of buyers, while a higher contract ratio shows market movement toward sellers.
If you own a condo in Belle Haven or Belle View that you’re thinking of selling, give me a call on my cell phone at 703-462-0700 to request a free comparative market analysis. This will give you a good idea of what your Belle Haven or Belle View condo is worth and will help you decide if it’s a good time to sell.
If you’re in the market for a condo in Belle Haven or Belle View, contact me so I can negotiate a great deal on your behalf. I’m an experienced buyer agent who grew up in Northern Virginia and knows the Belle View and Belle Haven condo market very well.