Real Estate Market Update For Alexandria VA – December 2014
The number of units sold in Alexandria increased from November to December. Median days on the market remained about the same, increasing by 6. The median sale to list price ratio also remained about the same. The median sale price went up by quite a bit as compared to November and sellers continue to see a strong sale to list price ratio. October and November both saw sales slow in Alexandria but, the market picked back up during December.
The following is a review of activity in Alexandria during December 2014.
•Number of Sales: 387 (increase by 111 from November)
•Highest Priced Sale: $3,495,000
•Lowest Priced Sale: $79,000
•Median Sales Price: $450,000 (increase by $37,500 from November)
•Median Days on Market: 31 (increase by 6 from November)
•Median Sale Price to List Price Ratio: 96.33 (decrease by .12 from November)
Reviewing the same time period in 2013 there were 379 units sold and the median sale price was lower by $25,000. The median sale to list price ratio remained about the same 96.72% in 2013 vs. 96.33% in 2014. The days on the market were slightly less last year, coming in at 26. Comparing sales from the same timeframe in the prior year gives a good synopsis of how the market has changed in the past year. The market remains a seller’s market and with the increase in sales from November to December it will likely remain one through the Spring market. Buyers are out taking advantage of the appealing interest rates and enjoying a little bit more inventory. Sellers that properly prepare their home for sale, price it in line with the market, and make it easy to show are often going under contract in just a few days. It remains imperative to hire an agent that knows your neighborhood and its current market conditions.
Buyers: If you have been considering a home purchase in the Alexandria area contact me to learn how to get started. To see homes for sale in Alexandria please visit the link. I am always available to answer questions and welcome the opportunity to work with you.
Sellers: If you’d like to know the current value of your home contact me for a free market evaluation. I want to be your agent and look forward to showing you how my marketing can take your house from listed to sold.
Amanda4210@yahoo.com or 703-431-3755