Zip Codes 22201 and 22203 (includes Ballston,
| | 1 BR Units | 2BR Units |
| ACTIVE LISTINGS as of Sep 29 | ||
| Average List Price | $352,725 | $542,493 |
| Number of Active Listings | 50 | 57 |
| Average Property DOM(P) – Actives | 69 | 119 |
| SOLD LISTINGS | ||
| Average Sold Price for Previous Month (does not include seller subsidies) | $323,929 | $458,069 |
| Number of Sold Listings in Previous Month | 31 | 32 |
| Average Property DOM(P) - Solds | 70 | 64 |
| | | |
Absorption Rate
6 = Balanced Market
>6 = Buyer’s Market
<6 = Seller's Market
1 Bedroom Condos = 1.6
2 Bedroom Condos = 1.8
* Statistics exclude retirement communities
Click here to see the previous North Arlington Condo Market Update
Source: MRIS data as of
Posts
2 comments:
Average list for 2 BRs is 542k while average sale is 458k?
Can you explain that?
Yes, there are a two $1.2 million 2BR condos in North Arlington active on the market right now that are skewing the current list price high, both in the Odyssey. In other buildings, there are two in the $800s, one in the 700s, and nine in the 600s.
The highest priced 2br that sold in August closed at $613K (Clarendon 1021).
That's the danger of using averages - they can sometimes result in wild swings when there are outliers.
Post a Comment