Arlington VA Condo Market Update - Days On Market Plummet After Amazon HQ2 Announcement
It's been a year since the Amazon HQ2 announcement sent the Arlington area into a frenzy. And rightfully so, the real estate market in Arlington has taken a life of its own ever since. Condos for sale in Arlington VA are being plucked up left and right by buyers who want the convenience and walkability of Crystal City and Pentagon City, in the heart of Amazon territory, in addition to investors looking to bank on future appreciation.
Just take a look at the interactive chart below and see the change in days on market over the past year.
In November 2018, the average days on market was 33, then it peaked in December at 45 days. After December, the time a condo for sale in Arlington VA stayed on the market reduced drastically, even with five consecutive months of less than 20 days.
But is this days on market trend indicative of sold prices? Yes, it is. Below is the chart that shows the original list price-to sold price ratio for Arlington condos for the past year:
Look at the timing and how straight the line is. After the announcement and starting in January, if you had a condo to sell in Arlington VA, two things were certain, you were going to get your asking price, and you were going to get it in less than a month.
Do you currently own a condo in Arlington? Click here to find out what it's worth. Even if you're not quite ready to sell, we'll provide you with a free monthly report with a list of all of the homes that have sold in your building, so you can keep track of the value of your real estate investment.
