Number of Homes Currently for Sale as of today, November 11th, 2013
Single family, detached - 3
Condos - 37
Townhouses – 17
In October…
Number of Closed Sales
Single family, detached - 1
Condos - 28
Townhouses - 2
Median Sale Price
Single family, detached - $402,000
Condos – $407,500
Townhouses – $553,000
Average number of days on the market
Single family, detached - 12
Condos – 19
Townhouses – 24
Number of sales currently pending
Single family, detached - 0
Condos - 30
Townhouses – 17
Average Sale Price
Detached homes - $402,000
Attached homes (condos, townhomes) – $411,587
Average List Price
$412,419
Average Sale Price to List Price Ratio
99.7%
Absorption Rate as of today, November 11th, 2013
Single family, detached – 3 months
Condos – 1.32 months
Townhouses – 8.5 months
With regard to the absorption rate, a balanced market is generally defined as 5-7 months of inventory. Less than 5 months of inventory is considered a seller’s market, while more than 7 months of inventory is considered a buyer’s market.
Overall, Shirlington real estate sales are in a seller’s market. One curious anomaly is the current high inventory of Shirlington townhouses. However, when combined with the low inventory of other types of real estate in Shirlington, this isn’t likely to give townhouse buyers any extra leverage.
Home sellers in Shirlington are in a position to benefit from low inventory and high demand for housing. If you’d like to find out more about how much your home is worth, call me on my cell phone at 703-462-0700 to request a free comparative market analysis. This will help you decide if it is a good time to sell.
Home buyers in Shirlington should find a great buyer agent to help them get the best deal possible. I’m an experienced buyer agent who grew up in Falls Church City and knows the Shirlington real estate market very well. I would love to help you find a great Shirlington home!
To learn more about home market statistics in Shirlington, visit my blog: http://northernvirginiahomepro.com/shirlington-condominium-market-report-for-october-2013/
To search online for Shirlington homes, visit my website: http://www.searchnorthernvarealestate.com/
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