Alexandria home sales experienced another increase in sales from February to March. Days on the market saw a large decrease and the median sale price remained fairly consistent, increasing by a little over $2,000. The Alexandria real estate market is seeing a lot of activity and it's a great time for buyers and sellers to accomplish their real estate goals.
Let's Look at the Numbers
- Number of Sales: 418 (increase from 295 in February)
- Highest Priced Sale: $1,800,000
- Lowest Priced Sale: $92,925
- Median Sales Price: $439,500 (increase from $437,300 in February)
- Median Days on Market: 22 (decrease from 41 in February)
- Median Sale Price to List Price Ratio: 97.31% (increase from 96.69% in February)
Alexandria Real Estate Market - March 2015 vs. March 2016
The market is very similar compared to the same time period last year. There were 411 homes sold in March 2015 and the median sale price was higher last year by $3,500. The median sale to list price ratio remained consistent, 97.60% in 2015 vs. 97.31% in 2016. Median days on the market also remained consistent– 20 in 2015 and 22 in 2016.
Whose Market Is It?
The Alexandria market shifted from a stable market into a seller's market during the month of March. The spring market is in full swing and while it's a seller's market, buyers continue to enjoy low interest rates. The homes that are moving quickly and receiving multiple offers in Alexandria have similar characteristics; they show well, are priced according to the market, and are easy for agents to bring their buyers to for a tour. Buyers need to be prepared to act in the current market – getting pre-approved in advance is imperative.
Hiring an agent that can promptly show you homes is also imperative to be successful in the current Alexandria market conditions. Whether you're buying or selling, hiring a local agent that knows the area and the current market conditions is an important component of a successful transaction.
Buyers: To see homes for sale in Alexandria, please visit the link. I am always available to answer questions about your home search and welcome the opportunity to put my expertise to work for you.
Sellers: Now is a great time to list in Alexandria. I'm an excellent negotiator and my marketing has a proven successful track record. Contact me for more information and let's team up to accomplish your selling goals.