Alexandria VA Real Estate News and Update - 2013 Foreclosure Report
Alexandria VA Real Estate - A growing and rebounding Alexandria VA real estate market left very little room for bank owned foreclosures in 2013.
In January, only 4 out of the 102 homes that sold in Alexandria VA were foreclosures. That big number was sliced completely in half in December, a faint 2 out of the 180 homes that sold were foreclosures. The months of March and May were tied with foreclosure volume, with 12 bank owned properties selling.
There were several months throughout the year where foreclosures in Alexandria VA took longer to sell than traditional resales:
In May 2013, foreclosure homes stayed on the market an average of 44 days as opposed to 34 days for resales. There were noticeable spikes in time to sell in the months of August and November as well. In August, bank foreclosures took 121 days to sell versus 28 days for traditional resale homes, and in November foreclosures took on average 122 days to sell versus 41 days that we saw for traditional resales.
Were homeowners better at negotiating than the banks, or were they just lucky? In 2013, buyers had to step up to the plate and pay up if they wanted a traditional resale home. Take a look at the chart below and you'll see that throughout the year, the average sold price-to original list price remained over 95% in Alexandria VA:
January 2013 opened with Alexandria VA bank foreclosures selling at 83.9% of the original list price. But banks were able to get more for their liquidated properties as the year progressed. April proved to be a good month with the sold foreclosures getting 110% of list price, as well as August and October, with 99.2% and 99.5% respectively.
For a complete list of Alexandria VA bank owned homes and foreclosures delivered daily to your email inbox, just click here.
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Buying or Selling Real Estate in Alexandria VA? I specialize in new construction homes and short sales throughout Alexandria VA. Contact Tamara Inzunza, Associate Broker of RE/MAX Executives to list and sell your home, or purchase a new home. Proudly serving the beautiful Alexandria VA communities of Old Town Alexandria, Del Ray, Kingstowne, and Manchester Lakes.
Call me at 703-623-8759
Be sure to visit my website where you can Search MLS Listings of ALL Homes For Sale in Alexandria VA at www.MovingToNova.com/. If you're thinking about selling and would like to know how much your Alexandria VA home is worth, visit http://www.confidentialcma.com/ for a complimentary market analysis of your home.
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