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Amanda Davidson Real Estate Group is Northern Virgina's most trusted local, independent resource for real estate news and insight. Our team has its finger on the pulse of the real estate market in Alexandria and the surrounding counties. Here you'll find the latest market updates, local news, and tips for buyers and sellers.

How Did Real Estate Sales Perform in Alexandria in December 2017?

How Did Real Estate Sales Perform in Alexandria in December 2017?
Home sales for Alexandria are in for December 2017? If you’re wondering if it’s the right time to buy or sell the answer is yes! There is only 2+ month’s supply of inventory available in Alexandria and that means two things. Buyers are waiting for new inventory and sellers can take advantage of the low inventory levels.



Here are the stats for December 2017 in Alexandria…

•Number of Sales: 373 (decrease from 428 in November)

•Highest Priced Sale: $1,925,000

•Lowest Priced Sale: $97,500

•Median Sale Price: $475,000 (increase from $457,125 in November)

•Median Days on Market: 27 (increase from 18 in November)

•Median Sale Price to List Price Ratio: 97.00% (decrease from 97.40% in November)

 


To gain some perspective let’s go back and compare to December 2016…

•Number of Sales: 422

•Highest Priced Sale: $2,910,000

•Lowest Priced Sale: $105,730

•Median Sale Price: $434,450

•Median Days on Market: 29

•Median Sale Price to List Price Ratio: 96.87%
 

November 2017 was a very active month and it’s not uncommon to see a slowdown in the number of homes sold in December due to the holidays but, what’s very telling of the current low inventory trend is the number of homes sold in December 2017 is down by over 11% as compared to December 2016. The median sale price is also up by over 9%. We will be intently watching the numbers to see how January shakes out but, there’s no doubt that low inventory continues to be a factor in the Alexandria housing market.

 


Active Listings in Alexandria
As of today there are 593 homes for sale in Alexandria. The lowest priced property is listed at $112,000 and the highest is listed at $5,745,000 amount with an average of 73 days on the market.

Pending Sales in Alexandria
As of today there are 421 homes under contract. Median days on the market for the pending homes is 40.

Buyers in today’s market are informed about inventory levels and current homes available for sale. They monitor current interest rates and resist homes that are overpriced which in turn causes them to sit on the market and become stale inventory. Making the best first impression when listing your home is critical to a successful sale.

Homes in Alexandria that are selling the quickest have several characteristics in common: they are well maintained, reasonably updated, clean and uncluttered, and they are priced according to the current market. As a seller if you meet these conditions your home will not only stand out from the competition it will also have the best opportunity of going from listed to sold ahead of the competition too.

 

 

Reach out to Amanda at 703-988-3151 or email amanda@amandadavidson.com to talk about the marketability of your home. Market reports are great for general information but, nothing replaces a comprehensive market analysis. Every home and its features influence its price. Achieving the maximum dollar for your home regardless of the current market conditions is always our goal.

Homes For Sale in Alexandria
Search for homes in Alexandria

 

 

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    Moving With Pets ? Tips For Success

    Moving With Pets – Tips For Success

    Moving is just plain stressful and that’s for humans who know exactly what’s happening. Think about how stressful it is for your pet who has no clue why life is changing. While it’s impossible to completely eliminate the stress of a move for your pet there are things that you can do to make sure it’s as smooth as possible for your fur baby.
     


    Transporting your pet – it doesn’t matter if you’re moving across town or across the country make sure you setup a comfortable place for your pet to ride. It’s best for them to ride in a bed that they’re used too. If your pet has a fear of the car talk to your veterinarian on the best procedure to follow for the move.

    Security – once you arrive to your new home keep your pet on a leash or in their crate. This is new territory and it’s very common for your pet to be scared. Scared animals initial reaction is to run. There’s nothing worse than a lost pet, particularly during a move. Be extra careful to make sure your pet isn’t let out to run around unless it’s in a fenced area where he or she can’t escape.
     


    Anxiety – if you think your pet is a candidate for anxiety medicine when a move is taking place consult with your veterinarian in advance. Just like humans handle stress differently, so do our pets. Some animals can use a little extra help to remain calm during a move. It’s best to plan ahead and talk with your vet to go over options well before the day of your move.

    Contact information – make sure you update your pets contact info on their collar or microchip prior to your move. Always list your cell phone, house phones won’t do much good during a move. With the right steps in place a lost pet won’t be a concern but, better safe than sorry. If your pet isn’t microchipped consider having it done. Not only will it give you peace of mind during your move but, also for the rest of your pet’s life.
     


    Food and water – decide where you want your pet’s food and water to go in your new home prior to moving your pet. It causes pet’s anxiety when their bowls are constantly moved so you don’t want to set them somewhere when you bring your pet to the new home for the first time and then move them around as you get settled in. Now is not the time to get them new bowls. We can understand that with a new home comes new (and fun) furnishings but, hold off on that for your pet until they’re really settled in and comfortable in their new surroundings. The goal is to limit the changes in their world to as few as possible.

    Toys and treats – give your pet their favorite toys and the treats they’re used to having to help them make the adjustment. Their stressed is eased through items that are familiar to them.

     


    Most importantly pour on some extra love and attention. Moving isn’t fun for anyone and it can be especially hard on pets because of the uncertainty that it brings into their lives. Carve our time multiple times a day to give them attention and reassure them that you’re moving together. Once you’re at your new home keep their schedule as similar as possible. When they’re settled into their new surroundings take them out in a secure environment and explore the new area with them. They’ll start thinking its home very soon too!

     

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      Alexandria Condos ? Market Update December 2017

      Alexandria Condos – Market Update December 2017

      Condo sales in Alexandria slowed in December from a units standpoint but, overall this segment of the market remains strong. It isn't uncommon to see less sales this time of year. Partly because there are less buyers in the market during the winter but, inventory or lack there of is also currently playing a big role in the market.

      Month To Month Comparison



      December 2017 Condo Sales in Alexandria

      •Number of Sales: 134 (decrease from 164 in November)

      •Highest Priced Sale: $1,215,000

      •Lowest Priced Sale: $92,000

      •Median Sales Price: $276,245 (decrease from $279,000 in November)

      •Median Days on Market: 32 (increase from 24 in November)

      •Median Sale to List Price Ratio: 96.55% (decrease from 97.03% in November)
       


      How Does December 2016 Compare to December 2017?
      There were 27 more condos sold in December 2016. The median sale price was higher this year by $6,245 and days on the market saw very little change. Higher by just a day last year. The median sale to list price ratio also remained just about the same 2016 – 95.79% vs. 2017 – 96.55%.

      Current Condo Inventory in Alexandria
      There are 221 condos for sale in Alexandria, another decrease in inventory from this time last month. Low inventory continues to be a challenge in the current market. Despite the cold temps we’ve been experiencing there is strong activity from buyers and the supply isn’t keeping up with the demand.

       

       

      Is it a Buyers or a Seller’s Market?
      The condo market in Alexandria remains a seller’s market. It might be cold and the dead of winter but, that doesn’t mean it isn’t a good time to list. Buyers are active in the market and now is a good opportunity for sellers to go on the market before there’s more competition from other sellers when spring arrives. For buyers, rates are still low and finding your dream condo now vs. waiting until spring means being able to take advantage of them before they increase. Condos that are moving quickly have similar characteristics – show well, priced correctly, and easy for buyers to tour. This might seem like a broken record statement because we say it all the time but, the facts are the facts. Although it’s a seller’s market proper preparation is imperative for a sale that results in top dollar with the shortest time on the market.

       


      Whether you’re buying or selling a condo in Alexandria we are happy to answer your questions. Contact us today. We look forward to helping you!

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

      Browse Alexandria Homes For Sale

       

       

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        Are Home Inspectors Ever Wrong?

        Are Home Inspectors Ever Wrong?

        Most of the time when we’re talking home inspectors it revolves around buyers hiring one to inspect the home they’re purchasing. That’s not always the case though. Homeowners and seller’s hire home inspectors too. Home inspectors can identify repairs that are needed or going to be needed in the future and that can avoid costly deferred maintenance for homeowners or give sellers a chance to correct a problem prior to going on the market.
         


        I always like to compare a home inspection to going to the doctor to get a physical. It’s not a pass or fail activity. Home inspectors are looking for items that need repair or even replacement, safety items, and do a visual overview of the home. They’re not there to take drywall down, to look behind walls, or do anything invasive to the home. After they complete their inspection they’ll compose a report often with pictures that includes their findings.
         


        This poses the question – are home inspectors ever wrong? Let’s start by pointing out they’re human and no one is perfect so based off that alone yes, there are times inspectors are wrong. We’re all wrong at some point in our lives. Aside from being human and capable of error they’re also not able to see behind walls, under concrete, under floors etc. No two home inspectors are the same. Odds are if you have a home inspection done by two different inspectors they’ll have items that are the same in their reports but, other items that one found and the other didn’t or vice versa. A professional and reputable home inspector will recommend further evaluation if he’s unsure of something or feels there’s more that needs to be looked into.
         


        Fortunately it’s rare but, I have had a few situations where an inspector listed a full write up on something he or she thought was wrong and needed repair or replacement but, after hiring a tradesmen that specialized in X area it was shown that the inspector wasn’t correct. Occasionally buyers will take the inspectors report as the final word and withdraw from a contract. That’s worst case scenario and it’s always a good idea to get a second opinion before making any decisions.

        As with every other profession not all inspectors are created equal. Do your research before you make a decision on who you want to inspect your home or if you’re a buyer your future home. Ask your agent for recommendations and check inspectors qualifications. If something comes up that’s questionable, get a second opinion so that you know where you stand. 

         

         

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          Kingstowne Housing Market Update: December 2017

          Kingstowne Housing Market Update: December 2017

          The real estate market in Kingstowne continues to be strong. Sellers are seeing strong sale to list price ratios and low inventory continues to play a factor in the market. The area is highly sought after due to its fabulous location; residents love being within minutes to shopping, dining, and entertainment. In addition to having anything one might need for day to day life nearby the area also offers easy access to commuter routes and public transportation.
           


          Let’s check in on what happened in the Kingstowne market during December 2017.

          •Number of Sales: 37

          •Highest Priced Sale: $799,000

          •Lowest Priced Sale: $225,000

          •Median Sales Price: $485,000

          •Median Days on Market: 20

          •Median Sale Price to List Price Ratio: 97.18%
           


          Month to Month Comparison
           



           

          Kingstowne remains a seller’s market. Homes that show well and are priced correctly for the current market conditions are moving quickly. Buyers aren’t seeing very much negotiation from the list price vs. the sale price. Every home is different but, in general sellers remain in the driver’s seat.

          There are currently 37 homes for sale in Kingstowne. Down from 51 homes during the same time frame last month. The homes for sale range from a 2 bedroom, 2 bath condo listed at $280,000 up to $899,950 single family home with 4 bedrooms and 4.5 baths.

          Find out the value of your Kingstowne home – free estimate.

          See homes for sale in Kingstowne

           

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            What Does The New Tax Bill Mean For Homeowners, Buyers, and Sellers?

            What Does The New Tax Bill Mean For Homeowners, Buyers, and Sellers?

            Many homeowners, buyers, and sellers are wondering how the tax reform legislation that passed in December is going to impact them. As with most things in real estate – it depends. There are several items in the bill that affect the housing market. Below is an overview of what it means for homeowners, buyers, and sellers.

            Mortgage Interest Deduction – through the end of 2025 new home buyers will only be able to deduct interest on the first $750,000 of a mortgage. This is a decrease from $1 million. The deduction cap will revert to $1 million in loan value in 2026. This has no impact on EXISTING mortgages – only new home buyers. It’s important to remember that these are loan amounts and not sale prices.



            Home Equity Loan Interest Deduction – the new bill suspends the interest deduction on home equity loans until 2026. This is a change from deductions being allowed for loans up to $100,000. That said, there is a caveat – interest on a home equity loan can be deducted if the proceeds are used to substantially improve the home.

            State and Local Property Taxes with the new legislation the property tax deduction is limited to $10,000. There was previously no cap. ATTOM Data Solutions estimates that approximately 90,000 households will be impacted by this change in the DMV area.

            Capital Gains – no change, the deduction for up to $500,000 for joint filers or $250,000 for single filers from selling a primary home remains. The requirement that the home was the filer(s) primary residence for at least two of the last five years also remains.

            Moving Expenses the new legislation eliminates the deduction with the exception of members of the Military.

            Estate Tax – the estate tax exemption is doubled to $11.2 million under the new law.
             


            What Does This Mean For The Housing Market? 
            We think that there could be a temporary slow down simply because everyone is digesting the changes and processing them. We do not anticipate the new legislation to have a significant affect on the housing market. If you are considering buying or selling and have questions about what the changes mean to you personally reach out to us. We've been watching this bill intently and are always happy to help. If you have tax questions in general, we know a great CPA!

             

             

             

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              Condo Sales in Alexandria, VA Market Update November 2017

               

              Condo Sales in Alexandria, VA Market Update November 2017

              The condo segment of the Alexandria real estate market continues to be strong - see the latest stats in our November 2017 market update. 

              November 2017 Condo Sales in Alexandria

              •Number of Sales: 164 (increase from 159 in October)

              •Highest Priced Sale: $999,900

              •Lowest Priced Sale: $94,500

              •Median Sales Price: $279,000 (increase from $277,000 in October)

              •Median Days on Market: 24 (increase from 17 in October)

              •Median Sale to List Price Ratio: 97.03% (increase from 97.62% in October)

               

              How Does November 2016 Compare to November 2017?
              There were 32 more condos sold this November. The median sale price was higher this year by $9,000 and days on the market saw no change. The median sale to list price ratio also remained just about the same 2016 – 97.00% vs. 2017 – 97.03%.

              Current Condo Inventory in Alexandria
              There are 230 condos for sale in Alexandria, a decrease of 159 the same time frame last month. The pattern of low inventory continues to be a trend in Alexandria. This fall and now winter have shown strong sales but, still not a plentiful amount of inventory when in turn makes for a more competitive market.

              Is it a Buyers or a Seller’s Market?
              You can probably guess … condos in Alexandria remain a seller’s market. The good news for buyers is during the winter there aren’t as many other buyers searching for a new home. The low inventory factor is a challenge but, the upside to touring homes in the cold is there are less bidding wars this time of year. Spring will inevitably lead to more buyers being in the market.

              Thinking of selling your Alexandria condo? Don’t fall for the myth that winter isn’t a good time to sell. The market continues to be swayed in your favor. Low inventory equates to less competition from other sellers. Days on the market crept up a bit in November but, at 24 is still extremely low. Proper preparation and correct pricing for the market remain key. Make your condo stand out from other listings, you only get one chance to make a first impression.

              Whether you’re buying or selling a condo in Alexandria we are happy to answer your questions. Contact us today. We look forward to helping you!

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

              Browse Alexandria Homes For Sale

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                The 6th Floor Candle Company

                I’ve been a longtime lover of candles. It’s something about the combination of fragrance and fire that instantly enhances my mood and puts me in a state of relaxation and encourages a mode of reflection. As a self-proclaimed candle enthusiast, I seek to fill my space with the soothing aroma of a candle every day, year-round, but now that the holidays are in full swing and there’s a winter chill in the air, the candles are sure to come out for most.  My endless pursuit of amazingly fragrant candles enabled me to discover The 6th Floor Candle Company and I’m so glad I did because I’ve been hooked ever since!

                 

                 

                The 6th Floor Candle Company has an amazing assortment of fragrant candles sure to awaken your senses and spark the perfect ambiance for a special occasion or no occasion at all! With fragrances like Rosemary Fig, Vanilla Clove, and one of my favorites -Coconut Rose- you’re sure to find the perfect fragrant accompaniment to your aesthetic.

                The company is aptly named after its origins which started in Founder Caroline Scott’s, 6th floor New York City apartment. Caroline’s passion for candle making is evident in her thoughtfully made product. The candles are made of natural soy wax and hand poured in small batches to ensure the highest of quality.

                 

                 

                For The 6th Floor Candle Company, crafting candles is a meaningful labor of love and the fragrances are created with the efforts to stir emotion, inspire experiences, and enhance one’s life. Read more about their amazing story here. I guarantee you’ll love these candles just as much as I do. Check them out for yourself or for someone you admire.

                 

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