Real Estate Market Update For Alexandria VA – June 2015
Alexandria experienced an increase in home sales for the fifth month in a row during June. Days on the market inched up just a bit but, still remain low and the average sale price remained about the same, increasing just slightly. The sale to list price ratio decreased by less than 1% but, sellers continue to see a strong ratio.
The following is a review of activity in Alexandria during June 2015.
•Number of Sales: 578 (increase from 543 in May)
•Highest Priced Sale: $2,675,000
•Lowest Priced Sale: $95,000
•Median Sales Price: $469,450 (increase from $469,000 in May)
•Median Days on Market: 14 (increase from 10 in May)
•Median Sale Price to List Price Ratio: 97.72% (increase from 98.29% in May)
Let’s check in on the same time period in 2014. There were 552 homes sold in June 2014 and the median sale price is higher in 2015 by $19,450. The median sale to list price ratio remained about the same 98.00% in 2014 vs. 97.72% in 2015. The days on the market also remained consistent, 11 in 2014 vs. 14 in 2015. The market in Alexandria remains a seller’s market with just slightly over 2 months of available inventory. Buyers are enjoying a little more inventory than what was available in 2014 but, need to be aware that homes that are priced correctly and properly prepared for sale are moving quickly. Sellers need to enlist the expertise of a local agent that knows the market and has a proven successful track record listing and selling homes. While it remains a seller’s market with the slight uptick in inventory it’s imperative your home be at its best when going on the market.
Buyers: Contact me to start your home search today! I am always ready to answer your questions and will guide you through each step of the buying process. Whether you aren’t sure where to get started or are ready to tour I can help. To see homes for sale in Alexandria please visit the link.
Sellers: The current market conditions make it a great time to list and sell your home. Although inventory has seen a slight increase in Alexandria it remains a seller’s market. I want to be your agent and will work diligently to earn your trust and business. Contact me for a free evaluation of the current value of your home or to discuss the current market conditions in your neighborhood.