Real Estate Market Update For Alexandria VA – July 2014
In July the Alexandria housing market saw a decrease in the number of units sold for the first time in 4 months. Median days on the market increased by three, up to fourteen days and median seller subsidy remained at zero. No seller subsidies are a trend seen month over month for almost two years. Median sale to list price remained about the same and has been trending around the 98% mark for four months now. Median sale price saw a slight decrease, down by about $2,200.
Reviewing the same time period in 2013 the number of units sold isn’t all that different, 498 in 2014 vs. 504 in 2013. The median sale price is higher in 2014, up by $17,200 and days on the market are about the same; 14 in 2014 vs. 12 in 2013. Alexandria remains a seller’s market and less units being sold in July vs. June is a typical trend. Sellers please be mindful that the need to properly prepare and price your home according to the market is imperative. Inventory isn’t plentiful but, it is slightly higher than last year and with the increase comes more options for buyers. Making your house stand out from the competition right from the start will position you to get offers quickly vs. sitting on the market.
The following is a review of activity in Alexandria during July 2014.
•Number of Sales: 498
•Highest Priced Sale: $2,970,000
•Lowest Priced Sale: $85,000
•Median Sales Price: $450,000
•Median Days on Market: 14
•Median Sale Price to List Price Ratio: 98.01%
Buyers: To see homes for sale in Alexandria please visit the link and be sure to check back frequently as inventory is constantly changing.If you’d like a custom listing alert created for you don’t hesitate to contact me. I welcome the opportunity to hear from you and discuss how I can help you with your home search.
Sellers: I can help you from preparing your house to go on the market to actually marketing it for sale. If you’re considering selling and would like to know what your home is worth in the current market contact me for a free market analysis. I am happy to answer any questions about the Alexandria Real Estate Market and I welcome the opportunity to help you from preparing your home for sale through closing. Amanda4210@yahoo.com or 703-431-3755
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