Last week also marks the end of the first half of 2024. What does the data say? Did you know ChatGPT 4.0 can now analyze spreadsheets? I exported all the 2024 condo listings from the first half and ran it through Chat. I started with some basic stats that I could also verify (they do), like:

What are the average and median sales prices?

      Average sales price: $546,350

      Median sales price: $475,000

What is the average days on market?

      57 Days

What are the number of listings for each status?

• Sold: 637
• Active: 111
• Under Contract: 82
• Expired: 75
• Cancelled: 30
• Withdrawn: 25
• Coming Soon: 3
• Temporarily Off: 3

Then I got a little creative and this is where ChatCPT 4.0 really shines. I asked it to tell me the top 5 selling condo buildings based on sales price, days on market and the close/original price ratio. Only use buildings with at least 3 sales. Here is what I got back:

• Cambridge Courts:
  • Average Sales Price: $331,000
  • Average DOM: 25.67 days
  • Average Close/Original Price Ratio: 1.051
• Williamsburg:
  • Average Sales Price: $646,633
  • Average DOM: 33.67 days
  • Average Close/Original Price Ratio: 1.031
• Southampton:
  • Average Sales Price: $698,125
  • Average DOM: 28.25 days
  • Average Close/Original Price Ratio: 1.025
• Fairlington:
  • Average Sales Price: $567,620
  • Average DOM: 35.34 days
  • Average Close/Original Price Ratio: 1.025
• The Arlington:
  • Average Sales Price: $417,100
  • Average DOM: 43.56 days
  • Average Close/Original Price Ratio: 1.022

Next, I asked Chat about trends in the year built and price/sq ft. Within a minute, it gave me these numbers:

Average Price Per Square Foot by Decade Built:

• 2020s: $540.87
• 2010s: $536.45
• 2000s: $535.32
• 1990s: $506.28
• 1980s: $503.57
• 1970s: $498.76
• 1960s: $486.21
• 1950s: $480.45
• 1940s: $467.85
• 1930s: $455.32
• 1920s: $450.00
• 1910s: $445.12

This is where I had to scratch my head and say what?? You see, there are no condos in Arlington that were built in the 1910's or 1920's. The oldest condos in Arlington are at Arlington Village, which were built in 1939.

The other stats it found were correct. I'm going to continue to experiment with this aspect of ChatGPT, but it is not perfect yet.