Real Estate Market Update For Alexandria VA – September 2014
The number of units sold in Alexandria decreased from August to September. Median days on the market slightly increased, and median sale to list price ratio slightly decreased. September showed a substantial decrease in the median sales price as compared to August. It’s not abnormal for sales to slow in September and even with the decrease Alexandria remains a seller’s market.
Reviewing the same time period in 2013 there were 385 units sold, only slightly higher than what we saw this year. The median sale price is higher in 2014, up by $10,000 and the median sale to list price ratio remained about the same 97.54% in 2013 vs. 96.65% in 2014. The days on the market were less last year, coming in at 18. Median sale prices continue to be on a slow rise which shows stable growth and we continue to see a seller’s market in Alexandria. Seller’s need to hire the right agent that knows the local market and their neighborhood. Proper preparation and correct pricing is imperative for a successful sale and making the right decision on the agent you hire is a must. Buyers have a little bit more inventory to select from than last year and are savvy on what the current market conditions are.
The following is a review of activity in Alexandria during September 2014.
•Number of Sales: 369 (down 108 from August)
•Highest Priced Sale: $2,662,500
•Lowest Priced Sale: $92,000
•Median Sales Price: $419,900 (down $25,100 from August)
•Median Days on Market: 28 (up 6 from August)
•Median Sale Price to List Price Ratio: 96.65 (down .59 from July)
To see homes for sale in Alexandria please visit the link or contact me to setup a custom listing alert that will automatically notify when a new property that matches your criteria enters the market.
If you’d like to know the current value of your home contact me for a free market analysis. I welcome the opportunity to hear from you and discuss your real estate needs. Amanda4210@yahoo.com or 703-431-3755