Alexandria VA Short Sales Market Update - Browse Alexandria Short Sale Listings
With less than a week to go in Year 2011, let's take a final look at the Alexandria VA short sales market. Currently, there are 79 active short sale listings in Alexandria. This list includes 33 single family homes, 20 townhouses, and 26 condos. Whether you are a first-time home buyer or a seasoned home investor, there are several well-priced short sales now available in Alexandria. As an added bonus, some of these homes are move-in ready so take a moment to browse my latest list of Alexandria short sales now.
Since January 1, 2011, a total of 398 short sale properties have sold in Alexandria. The average price for the homes sold is $253,090. The minimum and maximum price points for these homes are $42,000 and $900,000, respectively.
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SOLD 2011 (398) |
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List Price |
Orig Price |
Close Price |
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Min |
$40,000 |
$39,000 |
$42,000 |
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|
Max |
$989,000 |
$3,149,000 |
$900,000 |
|
|
Avg |
$257,182 |
$280,891 |
$253,090 |
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|
Sum |
$102,358,300.00 |
$111,794,800.00 |
$100,729,900.00 |
During the same time period in 2010, a total of 466 short sale properties were sold in Alexandria. The average price of the homes sold was $246,935. The minimum and maximum price points for these homes were $45,900 and $1,900,000, respectively.
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SOLD 2010 (466) |
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|
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List Price |
Orig Price |
Close Price |
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|
Min |
$49,900 |
$49,900 |
$45,900 |
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|
Max |
$2,199,000 |
$3,100,000 |
$1,900,000 |
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|
Avg |
$249,966 |
$267,136 |
$246,935 |
|
|
Sum |
$116,484,300.00 |
$124,485,200.00 |
$115,071,800.00 |
Evaluating the statistics for homes sold in 2011 and 2010, we see that the number of short sales sold differ by a total of 68 homes, with the majority of homes sold in 2010. This tells us that the number of short sales in Alexandria decreased by 15% from 2010 to 2011.
Comparing price statistics for homes sold in 2011 vs. 2010, we see that the minimum price point for closed sales was relatively consistent. However, the maximum price point for closed sales in 2010 exceeded that of 2011 by $1,000,000. Naturally, this figure is based on the size, location, and amenities of the homes sold, which were massively different in comparison. Nonetheless, the important factor to consider here is that a total of 398 short sale properties were sold in 2011 and 466 were sold in 2010. Although fewer homes were sold in 2011, the average price of homes sold was still higher in 2011. This is a strong indication that the price of short sales in Alexandria increased from 2010 to 2011. This is great news for home sellers! As the price of Alexandria short sales continue to increase, so does the price and value of other homes being sold in your Alexandria community.
For additional information on how to buy short sales in Alexandria or for information on listing your home as a short sale, please contact me for assistance.
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