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Alexandria VA Real Estate Market Update April 2016

Alexandria home sales experienced another increase in sales from March to April. Days on the market saw a large decrease and median sale price remained consistent, fluctuating by less than $1,000. The Alexandria real estate market is in full swing for the spring season and seeing a lot of activity. It's a great time for buyers and sellers to accomplish their real estate goals in Alexandria.

Let's check in…

The following is a review of activity in Alexandria during April 2016:

  • Number of Sales: 487 (increase from 418 in March)
  • Highest Priced Sale: $2,444,340
  • Lowest Priced Sale: $83,000
  • Median Sales Price: $440,400 (increase from $439,500 in March)
  • Median Days on Market: 11 (decrease from 22 in March)
  • Median Sale Price to List Price Ratio: 98.03% (increase from 97.31% in March)

Alexandria Home Sales - March 2015 vs. March 2016

The Alexandria home sales market is very similar as compared to the same time period last year. There were 466 homes sold in April 2015 and the median sale price was higher last year by $8,600. The median sale to list price ratio remained consistent, 98.13% in 2015 vs. 98.03% in 2016. Median days on the market also remained consistent, 11 for both April 2015 and 2016.

Alexandria Real Estate Market Report

Is It A Buyer's Market or a Seller's Market?

The Alexandria real estate market remains a seller's market. The spring market has been extremely busy in Alexandria and sellers are enjoying low days on the market and high sale to list price ratios. The homes that are moving quickly and receiving multiple offers in Alexandria all 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, knowing what you can afford in advance and having an agent that can promptly show you homes is imperative to be successful. With the fast paced market lack of preparation can mean the home you fall in love with today is already under contract tomorrow. 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. Contact me to start your home search today.

Sellers

Now is a great time to list in Alexandria. I'm an excellent negotiator and my marketing has a proven successful track record. I'd love to learn more about your home; contact me for more information and let's team up to accomplish your selling goals.

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