Condo Sales in Alexandria, VA – Market Update August 2015
The number of condos sold in Alexandria decreased in August, down by 7 as compared to July. Median days on the market remained about the same, going up by just two. The median sale price increased in August and sellers saw a slightly higher sale to list price ratio. The decrease in the number of sales is typical for this time of year and expected as we approach the Fall season.
August 2015 Condo Sales in Alexandria
•Number of Sales: 161 (decrease from 168 in July)
•Highest Priced Sale: $1,100,000
•Lowest Priced Sale: $109,900
•Median Sales Price: $290,000 (increase from $259,450)
•Median Days on Market: 24 (increase from 22)
•Median Sale to List Price Ratio: 97.00% (increase from 96.75%)
How Does August 2014 compare to August 2015?
There were 9 more condos sold last August than this year and the median sale price was higher this August by $1,500. Days on the market didn’t change – 24 for each year. Median sale to list price ratio remained consistent 2014 – 96.77% vs. 2015 – 97.00%.
What Does This Mean For Condo Sales In Alexandria?
The condo market in Alexandria remains a stable market for the second month in a row which is good news for buyers and sellers. While inventory isn’t plentiful it is higher than in the first two quarters of 2015 and in turn has given buyers more options and created less bidding wars. Sellers who properly prepare their condo for sale and price it according to the market are still seeing a high sale to list price and low days on the market. The need for buyers to be prepared to make an offer when they find the right condo still remains a necessity. What does being prepared mean? It means being pre-approved and having an agent working on your behalf that can competently write an offer. Days on the market remain low and there are still plenty of buyers in search for their next condo. The bottom line is it’s a great time for buyers and sellers in the condo segment of the Alexandria market but, as always it takes the expertise and guidance of a local agent to be successful.
Buyers: Whether you’re not sure where to start your home search or are ready to go out and tour I am ready to help. To browse homes for sale in Alexandria please visit the link or contact me to have a custom listing alert setup that will automatically notify you when new properties enter the market.
Sellers: If you are considering selling your home I want to be your agent. I live, work, and play in Alexandria and have a proven successful track record representing sellers. Contact me to find out how my marketing and expertise will help your home go from listed to sold. I welcome the opportunity to earn your trust and business.
703-431-3755 or amanda@amandadavidson.com
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