How Did Home Sales Perform in Alexandria in June 2018?

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

How Did Home Sales Perform in Alexandria in June 2018?
June was another strong month for home sales in Alexandria. Sellers continue to enjoy an over 98% sale to list price ratio and low days on the market. Let's check in on all the details from June real estate sales in Alexandria. 

Home Sales In Alexandria June 2018

 

Here are the stats for June 2018 in Alexandria…

•Number of Sales: 653 (increase from 614 in May)

•Highest Priced Sale: $2,875,000

•Lowest Priced Sale: $113,490

•Median Sale Price: $504,500 (increase from $496,300 in May)

•Median Days on Market: 10 (increase from 7 in May)

•Median Sale Price to List Price Ratio: 98.57% (decrease from 99.03% in May)

To gain perspective let’s go back and compare to June 2017…

•Number of Sales: 652

•Highest Priced Sale: $3,900,000

•Lowest Priced Sale: $100,000

•Median Sale Price: $482,300

•Median Days on Market: 9

•Median Sale Price to List Price Ratio: 98.50%

Comparing the previous year highlights changes in the market. In this case, the market has remained consistent with the exception of the median sale price which saw a 4.6% increase.

Alexandria Market Update June 2018

 

Active Listings in Alexandria
As of today, there are 847 homes for sale in Alexandria. A decrease from 857 at this time last month. The lowest priced property is a studio with 467 square feet listed at $115,000 and the highest is a 6 bedroom, 4.5 bath single family home with 8,145 square feet listed at $8,500,000. Current active listings in Alexandria have an average of 48.5 days on the market, an increase of 13.5 days as compared to last month.

 

Alexandria Housing Market Update June 2018

 

Pending Sales in Alexandria
There are currently 614 homes under contract. Median days on the market for the pending homes is 35.
 

View homes for sale in Alexandria

Is Alexandria Experiencing A Buyer’s Or A Seller’s Market?

In general 0-3 months of inventory is considered a seller’s market. Alexandria currently has less than 1 month of inventory. A trend that we’ve experienced throughout the year. Demand continues to outpace supply. It’s an excellent time to sell your Alexandria home. The fact that it’s a seller’s market doesn’t mean there aren’t pitfalls to avoid. Buyers know they are (in most cases paying) top dollar and in turn, they expect a product that has a reasonable amount of updates, shows well and is priced correctly. They resist homes that are overpriced and steer clear of them. Sellers who overprice their homes will still see the market react in the form of the home sitting and becoming what we like to call stale bread. No one pays top dollar for stale bread! With the right agent to guide you and the proper marketing plan in place that’s customized to your home, you will have a successful sale. It’s not just about selling, it’s about selling for the highest price in the shortest time possible. 

Alexandria Housing Market Update

 

Homes that sell quickly and are in high demand have similar characteristic; they are clean and well maintained, reasonably updated, uncluttered, and they are priced according to the current market. As a seller, when you meet these conditions your home will not only stand out from the competition it will also have the best opportunity to sell for top dollar.

 

Alexandria Market Report June 2018

 

Buyers have to be prepared to make quick decisions in the current market. Have your pre-approval in hand, know what your must-haves are, and work with an agent who has full-time availability to show you homes as soon as they come on the market. Days on the market remain very low and delaying in making an offer when you find a home you love can mean it’s already under contract. In general, the current market is not conducive to negotiating power for buyers but, there are some homes that will be an exception. If the home you want has only been on the market for a couple days be prepared to make your highest and best offer up front, it’s the smallest details that are making one buyer stand out from the next. Price is, of course, an important factor but, seller concessions, contingencies, and closing date are also details buyers need to consider. Rely on your agent to help you construct an offer that’s going to stand out to the sellers.

 

Housing Update For Alexandria June 2018

 

Reach out to Amanda at 703-431-3755 or email amanda@amandadavidson.com to talk about the marketability of your home. Market reports provide general information but, they sure don’t replace a custom market analysis from an agent who understands the intricacies of the Alexandria real estate market. Every home and its unique features influence where it should be priced. Achieving top dollar for your home regardless of the current market conditions is always our top priority. 

 

 

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




close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Virginia Fairfax County Alexandria
Tags:
alexandria
alexandria real estate
alexandria home sales
alexandria market update
alexandria housing report

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
904,984
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

HI Amanda S. Davidson - You have some very convincing reasons why sellers and buyers alike can be successful in their real estate decisions if they hire you and the Amanda Davidison Real Estate Group, in Alexandria VA. 

Aug 01, 2018 01:05 PM #1
Ambassador
3,764,962
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

This is a very good report, Amanda. You know the data and buyers and sellers in Alexandria can depend on you.

Aug 01, 2018 07:20 PM #2
Rainmaker
4,354,930
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 the information and update about the Alexandria real estate market.

Aug 02, 2018 05:43 AM #3
Rainmaker
3,608,363
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 overview of the real estate market in Alexandria, and nice to see this month compared to last month, and last year!  

Aug 02, 2018 06:26 AM #4
Rainmaker
1,566,468
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Amanda - the sellers market continues in Alexandra.  Sellers should heed your advice and make sure their updated homes are show ready if they want to participate.

Aug 02, 2018 06:35 AM #5
Rainmaker
2,031,581
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

You are always the first person that comes to my mind when I think about Alexandria and I know people there trust you with their real estate needs!

Aug 02, 2018 10:25 AM #6
Rainmaker
1,346,474
Amanda S. Davidson
Amanda Davidson Real Estate Group - Alexandria, VA
Alexandria Virginia Homes For Sale

Thank you, everyone! I enjoy studying the trends in Alexandria and it helps me serve our clients. I'm always intrigued to see how sales turned out at the end of the month!

Aug 03, 2018 07:53 AM #7
Ambassador
1,605,075
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Quite the price span from the lowest to the highest active listing. But then, it's probably similar to most markets. A lack of inventory continues to be the big issue...

Aug 03, 2018 07:58 AM #8
Rainmaker
2,882,448
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

Nice message here about the Alexandria Housing Market Amanda. It's always good for both buyers and sellers to know what's going on in their neighborhoods.

Aug 03, 2018 09:07 AM #9
Rainmaker
4,696,683
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Families on the move will appreciate your local market reports.

Aug 04, 2018 07:34 AM #10
Ambassador
2,633,472
Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Here's to you getting that buyer for the $8.5M listing, Amanda!

Seriously, great Alexandria market report for June. Our DOM increased as well  but, that was typical for summer months...as did the inventory (no surprise there).

Hope you have a great week ahead!

Aug 05, 2018 07:55 PM #11
Rainmaker
2,916,583
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Hello Amanda- - -a very comprehensive real estate report that will certainly answer most questions from prospective buyers and sellers. Very good and informative. 

Aug 05, 2018 08:36 PM #12
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
1,346,474

Amanda S. Davidson

Alexandria Virginia Homes For Sale
What can I do to help with your Northern VA real estate needs?
*
*
*
*
Spam prevention

Additional Information