Landmark, Alexandria - Condo & Coop
In Landmark, the median sold price for Condo & Coop properties for September was $252,000, representing an increase of 14.5% compared to last month and an increase of 13.1% from Sep 2015. The average days on market for units sold in September was 53 days, 22% above the 5-year September average of 43 days. There was a 19.6% month over month decrease in new contract activity with 37 New Pendings; a 16.1% MoM decrease in All Pendings (new contracts + contracts carried over from August) to 47; and a 5.2% increase in supply to 102 active units.
This activity resulted in a Contract Ratio of 0.46 pendings per active listing, down from 0.58 in August and an increase from 0.43 in September 2015. The Contract Ratio is 12% lower than the 5-year September average of 0.52. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller's favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer's favor.