Condos For Sale In Alexandria - Market Update May 2018

By
Real Estate Broker/Owner with Amanda Davidson Real Estate Group 0225221517

Condos For Sale In Alexandria - Market Update May 2018

May and April looked very similar for condo sales in Alexandria. More condos sold in May as compared to April and the median sale price saw a slight increase. Days on the market and sale to list price ratio remained consistent. Condos continue to move quickly and sellers are enjoying an over 99% sale to list price ratio.

Condo Sales in Alexandria May 2018 

May 2018 Condo Sales in Alexandria

•Number of Sales: 186 (increase from 173 in April)

•Highest Priced Sale: $2,600,000

•Lowest Priced Sale: $87,000

•Median Sales Price: $278,750 (increase from $263,000 in April)

•Median Days on Market: 10 (increase from 9 in April)

•Median Sale to List Price Ratio: 98.42% (increase from 98.54% in April)


Condo Sales in Alexandria May 2018

 

How Does May 2017 Compare to May 2018?

222 condos sold in May 2017 – an interesting stat to consider because of the low inventory we are experiencing this year. Aside from that, the market was very similar this time last year. Median sale price saw very little change, a decrease of $1,750 this year. Days on the market saw no change and the median sale to list price ratio remained consistent, 98.05% in 2017.

Previous Sales - 6 Month Comparison

Condo Sales in Alexandria

Current Condo Inventory in Alexandria

There are 311 condos for sale in Alexandria, the second month in a row inventory has increased. It’s not plentiful but, any increase is welcome news to buyers. While the condo segment of the Alexandria real estate market remains a seller’s market the time to buy is now. Interest rates continue to creep up along with home prices and waiting to buy equates to spending more. If you are thinking of selling your Alexandria condo it’s important to know what makes a home sell quickly. The homes that move quickly all have similar characteristics – they are reasonably updated, they show well, and they are convenient for buyer agents to bring their clients for a tour. Pre-marketing your Alexandria condo is a must, it builds buyer attention before it ever goes on the market. Having buyers waiting to tour your condo the day it goes active sets the stage for a successful sale. Pricing is and always will be a key detail to selling a home quickly for top dollar. If you’re considering selling now is an excellent time to do so. With that said, it does not mean you can overprice your home. Do not be the property that sits on the market turning into what we like to call stale bread. Planning ahead and teaming up with a local real estate agent that’s an expert in your area to properly execute a successful sale remains imperative. The details of preparing your home for sale, properly pricing it, and launching the right marketing plan will take you from listed to sold in the shortest time possible for the highest sale price possible.

Condo Sales in Alexandria May 2018 

If you’re buying a home in the current market be prepared. By that, we mean to have your pre-approval in hand, work with an agent that has full-time availability to show you properties as soon as they become available and don’t delay in making an offer. Days on the market continue to be very low and condos that are properly priced and show well move quickly. Taking a couple days to think about it can me you miss the opportunity to ever make an offer.

 

To receive a free estimate on what your condo is worth in the current market visit our free home value tool

 

If you’re buying or selling a condo in Alexandria and have questions reach out to us and let’s connect.

 

Browse Alexandria Homes For Sale

 

Posted by

 

Amanda Davidson Real Estate Group

 

 

      

 

Amanda Davidson

Amanda Davidson Real Estate Group

Broker - Owner
Licensed in VA and DC

6485 Old Beulah Street
Alexandria, VA 22315

Cell: 703.431.3755
Fax: 703.562.7057




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Topic:
Real Estate Market Trends
Location:
Virginia Fairfax County Alexandria
Tags:
alexandria real estate
alexandria condos
condos in alexandria
alexandria market report
alexandria condo market report
alexandria condo sales

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Rainmaker
4,222,963
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing 

Jun 26, 2018 04:50 AM #1
Rainmaker
1,552,480
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

THis is a very nice market snapshot and so helpful to buyers and sellers in the Alexandria condo market - Thanks for sharing.

Jun 26, 2018 04:50 AM #2
Rainmaker
4,508,824
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Good morning, Amanda S. Davidson anyone who is thinking of buyer and/or selling a condo in Alexandria would be wise to call Amanda Davidson for guidance... she has a firm handle on the condo market in that area...

Jun 26, 2018 04:54 AM #3
Rainmaker
2,909,735
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Combining all the right ingredients from preparation to marketing is what makes a sale successful she said to the choir.

Jun 26, 2018 05:00 AM #4
Rainmaker
2,949,987
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo & Home Sale Specialists

Amanda, Some increase in your condo market is a good sign Amanda. You point out all the right ingredients for getting a listing to sold!

Jun 26, 2018 05:17 AM #5
Rainmaker
3,738,431
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Amanda, great market update for the condos in Alexandria and sure looks like this sector of the market is doing very well.

Jun 26, 2018 06:15 AM #6
Rainmaker
4,852,640
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Alexandria condo sellers will be in very good hands when they select you as their listing agent. 

Jun 26, 2018 06:29 AM #7
Rainmaker
1,416,463
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Good morning Amanda S. Davidson, Alexandria condo buyers would be happy to know there's inventory but they must act quickly.  You are so right about working with an agent who has full-time availability to show buyers homes as they become available.

Jun 26, 2018 07:13 AM #8
Rainmaker
1,645,487
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Amanda - any time rates are going up there is an urgency to buy. 

Jun 26, 2018 08:36 AM #9
Rainmaker
2,778,793
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Amanda,  Great report as always from you for your buyers and sellers and us here in the rain.  Make it a great day!

 

Jun 26, 2018 09:07 AM #10
Rainmaker
2,154,078
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Alexandria appears to have a very strong condo market and I would call none other than you for all of my questions in regard to them.

Jun 26, 2018 11:55 AM #11
Rainmaker
1,462,164
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Appreciate the insight. Thank you for sharing and best of luck!

Jun 26, 2018 02:40 PM #12
Rainmaker
4,526,576
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Amanda.  Thanks for keeping us informed about the real estate market in Alexandria VA.

Jun 27, 2018 05:37 AM #13
Rainmaker
1,397,478
Amanda S. Davidson
Amanda Davidson Real Estate Group - Alexandria, VA
Alexandria Virginia Homes For Sale

Thank you all for your comments!

Jun 28, 2018 10:52 AM #14
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Rainmaker
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Alexandria Virginia Homes For Sale
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