September 2016

Lorton, VA - Condo & Coop


In Lorton, VA, the median sold price for Condo & Coop properties for September was $177,450, representing a decrease of 35.5% compared to last month and a decrease of 26.2% from Sep 2015. The average days on market for units sold in September was 19 days, 59% below the 5-year September average of 46 days. There was a 75% month over month increase in new contract activity with 7 New Pendings; a 57.1% MoM increase in All Pendings (new contracts + contracts carried over from August) to 11; and a 37.5% decrease in supply to 5 active units.




This activity resulted in a Contract Ratio of 2.20 pendings per active listing, up from 0.88 in August and an increase from 0.33 in September 2015. The Contract Ratio is 107% higher than the 5-year September average of 1.06. 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.
Karrina Taylor Brown
Karrina Taylor Brown
Associate Broker
8442 Old Keene Mill Road Springfield VA 22152