Old Town Alexandria: Homes For Sale -- Something Old, Something New & Market Statistics

By
Real Estate Agent with RE/MAX Allegiance, Managing Broker/Branch Vice President

 Old Town Alexandria is one of the most popular areas in Alexandria City for homebuyers.  Occupying zip code 22314, Old Town's charms include the Potomac River, the Torpedo Factory Art Galleries (inside of what was once an actual torpedo factory), and the many great restaurants, boutique shops, historic homes, and businesses which make Alexandria a local center of activity.  

The Washington Post reports on "A New Look Of Prosperity in Old Town". Among other things, the article states that:

    "The city is preparing to unveil a set of banners that will help give the area a more unified feel"

    "More than 36 restaurants have opened outdoor seating in the past three years, adding to the area's foot traffic on warm evenings" 

    "Several retailers have set up shop, including Old Original Bookbinder's seafood restaurant, Bruegger's Bagels, Conrad's Furniture Gallery and Diva, a designer consignment shop in a Victorian house on South Pitt Street" 

The article reports that the opening of the National Harbor convention and hotel center across the Potomac River is expected to bring an additional 500 to 1,000 tourists to Old Town each day, and retailers and residents are gearing up.

Old Town Alexandria Home Sales:

If home sales in Old Town Alexandria provide any indication, things are definitely moving upwards.

In recent MRIS statistics, home sales in Old Town Alexandria totaled 68 for July 2007, holding steady from the 69 units sold in June and a 21% increase from the 56 sold in July 2006.

Sales prices are also significantly up from the prior month.  The average sales price in July 2007 was $617,302, more than $35K higher than the average June sales price of $581,422.

Here's a chart comparing July 2007 and June 2007 sales data in Old Town Alexandria:

 

July 2007

June 2007

% Change

Total Sold Dollar Volume

$41,976,562

$40,118,143

4.6%

Average Sold Price

$617,302

$581,422

6.2%

Median Sold Price

$557,750

$530,000

5.2%

Total Units Sold

68

69

-1.5%

Average Days on Market

86

79

8.9%

Average List Price for Solds

$660,451

$601,580

9.8%

Average Sales Price as % of List Price

93.47%

96.65%

 

Homes in Old Town are taking slightly longer to sell, and buyers are able to negotiate better deals on these properties, but overall sales are up as well as prices.

Old Town Alexandria Homes on the Market:

There are currently 239 homes on the market in Old Town Alexandria ranging in price from $182,000 to $3.9 million with an average listing price of $754,820.

In love with the "Old World" charm of Old Town Alexandria?  Try one of these on for size:

6 homes on the market in Old Town Alexandria are 200 or more years old.  The oldest house currently for sale is at 215 Royal Street (just a block away from our Old Town Alexandria RE/MAX Allegiance office).  It was built in 1760 and is 247 years old -- currently listed for sale for $1,295,000.  Authentic Old Town!

On the other hand, do you want to live in the Old Town vicinity but have the pleasures of a brand new home?  There are several still under construction at the popular Potomac Greens neighborhood. 

CLICK HERE TO START YOUR SEARCH FOR AN OLD TOWN ALEXANDRIA HOME 

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Tags:
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Rainer
52,418
Nicole Kraus
Signature Realty & Associates - Dover, FL
Wow, that sounds like a dream.  Thanks for sharing!!!
Aug 10, 2007 07:50 AM #1
Ambassador
1,014,900
Margaret Woda
Long & Foster Real Estate, Inc. - Crofton, MD
Maryland Real Estate & Military Relocation
Your numbers were a lot better for Alexandria last month than mine were for Crofton.  We usually have a fairly stable market, so I was kinda surprised at our numbers.  Nice Market Report.  I'm going to have to go back and make mine prettier (in all my spare time).
Aug 10, 2007 08:05 AM #2
Rainer
81,905
Ginger Magoon
Remax - Bryan College Station - College Station, TX
Bryan, College Station Texas Real Estate
numbers look good
Aug 10, 2007 08:13 AM #3
Rainmaker
127,907
Tchaka Owen
Galleria International Realty - Hollywood, FL
Props for my mortgage company HomeFirst - right in the heart of 22314!!
Aug 10, 2007 04:27 PM #4
Anonymous
s fayad
I read your article and was impressed. However I live in Michigan and numbers like this do not exist right now. Good for you!
Nov 19, 2007 02:39 AM #5
Ambassador
1,550,463
Karen Kruschka
RE/MAX Executives - Woodbridge, VA
- "My Experience Isn't Expensive - It's PRICELESS"
Brian, Unlike you I am not intimately involved in Old Town marketing, but I do appreciate the fact that the historical society is doing as much as they can to preserve the place.  When we lived in Mount Vernon we attended Old Presbyterian Meeting House. The feeling osf history in that church is humbling, Karen
Nov 22, 2007 12:46 AM #6
Anonymous
Rosemary
Do you have any updates on the renovation of the Parker Gray Area in Old woan.
Jan 05, 2008 10:19 AM #7
Rainer
7,826
Vinnie Vacca
DPR Realty LLC. - Glendale, AZ
Glendale Arizona, Arrowhead Ranch
Thanks for the update on Old Town Alexandria, I was there once, I took a dinner cruise on The Dandy, it's a beautiful town. I love all the historic towns in Northern VA and Eastern Panhandle of WV.
Jan 05, 2008 10:48 AM #8
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Brian Block

Northern Virginia & D.C. Real Estate
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