Someone asked me the other day what was the best selling condo building in Arlington. I had a hunch on a number of buildings, but was curious what the data would tell me. So, I geeked out for an hour did a little number crunching. I looked at all sales for the first half of the year. I looked at two stats - the average days on market and the ratio of the final sales price to the original asking price. I find these two stats give the best indication of demand for a building.
The results might surprise you.
I didn’t want to use data for a building that only had a couple sales as that is not a big enough sample size. I decided to use 6 as the minimum number of sales, that works out to one per month.
I also didn’t include new buildings (Trafalgar Flats and the Flats at Pierce Court). When new buildings are entered in the MLS, they only enter a few listings which skews the data.
So, the best selling condos in the first half of 2019 are:
After I found the average days on market and the average of the final sales price to the original sales price, I ranked them and put them in quartiles. So, the first quartile would get a score of 1, the second quartile a score of 2, etc. I did this for each of the two stats and added them together for a combined score. The lowest combined score would be a two and these I determined to be best selling. You can agree or disagree with my methods, but the numbers don’t lie.
If I wanted to add some more stats, I would have factored in expired and withdrawn listings. If you're curious where your building is on the list, here are the complete results:
|Building||Listings||Avg DOM||DOM Qrt||Close/Original Price||Ratio Qrt||Total Score|
|Windgate Of Arl||10||10.70||1||101.52%||1||2|
|West Vge At Shir||22||13.86||1||101.29%||1||2|
|Grove At Arlington||11||10.73||1||100.65%||2||3|
|Eclipse On Cente||15||10.33||1||100.16%||2||3|
|Commons Of Arl||7||25.29||2||101.03%||2||4|
|Park At Courthouse||7||18.71||2||100.46%||2||4|
|Crystal Park -S||7||16.29||2||98.95%||3||5|
|Wooster & Mercer Lofts||6||47.00||4||97.76%||4||8|