The Arlington condo market is really hot! Condos are selling throughout Arlington with multiple offers and the inventory is very low. Here's some stats about Arlington Virginia condominium sales and inventory for February 2012.
Currently there are 207 condos on the market for sale in Arlington. That may seem like a lot, but considering that 216 Arlington condos sold in the last 90 days, 207 is not that many... 54 sold in the last 30 days alone. Based on the 90 day numbers, there's only about a 2.875 month inventory of Arlington condos.
The condos for sale in Arlington range in price from $79,000 to $4.15 million with an average listing price of $512,397 (considerably higher than neighboring Alexandria). Here's the breakdown by size of the condo:
One Bedroom Arlington Condos
69 on the market
Price range from $79K to $855K
Average listing price $329,287
Two Bedroom Arlington Condos
107 on the market
Price range from $170K to $2.05 million
Average listing price $536,038
Three Bedroom Arlington Condos
21 on the market
Price range from $350K to $4.15 million
Average listing price $1,072,521
Over the last 30 days the average final sales price of Arlington condos that sold was $444,413. On average Arlington condo sellers are obtaining 95.03% of their original listing price -- showing that there's still quite a bit of room for negotiation.
Condos sold in an average of 53 days on the market. From surveys that have come back from sellers that have worked with my office, the average expectation for a sale is 60-90 days, so Arlington condos are selling fairly quickly which is pleasing to sellers!
The chart below shows the condominium complexes in Arlington with the highest number of units on the market. (Note: Jefferson Retirement is a 55+ retirement community in Ballston)
Interested in buying a condo in Arlington? Search for Arlington condos here.
Thinking about selling your Arlington condo or just want to know the value? Confidential and free market analysis of your condo's market value.