Blog :: 06-2016

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.

Real Estate Market Update For Alexandria VA May 2016

Real Estate Market Update For Alexandria VA – May 2016
Alexandria home sales experienced another increase in sales from April to May. Days on the market remained consistent, increasing by just a day. The median sale price saw a healthy increase and sellers are seeing almost a 98% sale to list price ratio.

Let’s check in …

The following is a review of activity in Alexandria during May 2016.

•Number of Sales: 571 (increase from 487 in April)

•Highest Priced Sale: $2,325,000

•Lowest Priced Sale: $105,000

•Median Sales Price: $490,000 (increase from $440,400 in April)

•Median Days on Market: 12 (decrease from 11 in April)

•Median Sale Price to List Price Ratio: 97.98% (increase from 98.03% in April)

Alexandria Home Sales May 2015 vs. May 2016
The market is very similar as compared to the same time period last year. There were 548 homes sold in May 2015 and the median sale price was higher this year by $23,000. The median sale to list price ratio remained consistent, 98.30% in 2015 vs. 97.98% in 2016. Median days on the market also remained consistent, 10 in May 2015 and 12 in May 2016.

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 but, that doesn’t make it a bad time to buy. Rates have remained consistent and are still low. Buyers are also enjoying a bit more inventory than during early Spring. 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 do need to be prepared to act quickly in the current market as homes are not staying active for very long. Getting pre-approved in advance and having an agent that can promptly show you homes is imperative to be successful in the current Alexandria market conditions. The market is moving quickly and lack of preparation can mean the home you fall in love with today is already under contract tomorrow. When it’s time to buy or sell in Alexandria working with an agent that knows the local market and has a proven successful track record remains imperative.

Buyers: To see homes currently for sale in Alexandria please visit the link. We are always available to answer questions about your home search and welcome the opportunity to put our expertise to work for you. We have systems in place to achieve you a successful purchase with the best terms possible. Contact us to request a strategy session or to start your home search today.

Sellers: High sale to list price ratios and low days on the market make now a great time to list in Alexandria. We would love to learn more about your home and show you how our marketing can take it from listed to sold promptly. Contact us for a free market analysis or to setup an in home consultation.

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    Kingstowne Market Report May 2016

    Kingstowne Market Report May 2016
    Real Estate market data provided by Amanda Davidson Real Estate Group.
    Monthly sales comparison 2015 vs. 2016
    *Data for zip code 22315

    Single Family Home Sales in Kingstowne May 2016:

    •Number of Sales: 6 (decrease from 15 in April)

    •Highest Priced Sale: $890,000

    •Lowest Priced Sale: $570,000

    •Median Sale Price: $687,623 (increase from $515,000)

    •Median Days on Market: 6 (no change from April)

    •Median Sale Price to List Price Ratio: 99.53% (increase from 97.17%)

    The number of detached homes sold in Kingstowne decreased from April to May. Median sale price saw a large increase this month but, keep in mind that the lower median sale price last month was attributed to a short sale that closed well below market value. It’s important to consider that sale because it made the April median sale price a bit distorted and therefore the increase looks higher this month. Detached homes in Kingstowne are moving very quickly, with median days on the market coming in at 6 for the second month in a row. Sellers that properly prepare their home for sale and price it according to the market are experiencing a strong sale to list price. There are currently 18 detached homes for sale in Kingstowne.

    May 2015 vs. May 2016
    Reviewing the same time period last year there were 7 single family homes sold. Median sale price was substantially lower last year coming in at $575,000. Days on the market remained consistent – 5 in 2015 compared to 6 this year.

    Townhouse Sales in Kingstowne May 2016:

    •Number of Sales: 31 (decrease from 32 in April)

    •Highest Priced Sale: $620,000

    •Lowest Priced Sale: $300,900

    •Median Sale Price: $485,000 (increase from $417,000)

    •Median Days on Market: 12 (decrease from 26)

    •Median Sale Price to List Price Ratio: 98.05% (increase from 96.39%)

    The number of townhomes sold in Kingstowne saw very little change from April to May. The townhouse segment of the Kingstowne market remains a seller’s market and sellers continue to see a strong sale to list price ratio but, in order to achieve top dollar it’s imperative the home is properly prepared for sale and professionally marketed. Buyers are enjoying having more homes to choose from than earlier in the year and low interest rates also make it a great time to buy in Kingstowne. There are currently 54 townhomes for sale in Kingstowne.

    May 2015 vs. May 2016
    There were 7 more townhomes sold in May 2015 compared to May 2016. Median sale price was higher this May by $22,963. Days on the market were lower last May coming in at just 6. Sale to list price ratio was 98.74% in 2015 and this year is 98.05%.

    Buyers: Contact us to get your Kingstowne home search started today. Let’s team up and find your new home for the best price and best terms possible. If you have questions on how to get started or about a particular property contact us, we stand ready to assist.

    Sellers: It remains a great time to list your Kingstowne home for sale. Contact us to find out how our marketing can take your home from listed to sold. Our systems and marketing have a proven successful track record and we welcome the opportunity to achieve you a successful sale.

    For a complete list of homes for sale in Kingstowne visit the link or contact us to have a custom listing alert setup to be notified when new homes enter the market.

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      Condo Sales in Alexandria, VA Market Update May 2016

      Condo Sales in Alexandria, VA – Market Update May 2016
      May was a busy month for Alexandria condo sales. The number of condos sold increased as compared to April. The median sale price also saw a healthy increase. Days on the market slightly inched up but, still remain very low.

      Let’s check in….

      May 2016 Condo Sales in Alexandria

      •Number of Sales: 201 (increase from 175 in April)

      •Highest Priced Sale: $2,325,000

      •Lowest Priced Sale: $105,000

      •Median Sales Price: $295,000 (increase from $260,000)

      •Median Days on Market: 20 (increase from 13)

      •Median Sale to List Price Ratio: 97.06% (decrease from 97.86%)

      How Does May 2015 compare to May 2016?
      There were 25 more condos sold this May than last year. The median sale price was higher this May by $5,000. Days on the market remained consistent 17 in 2015 and 20 in 2016. The median sale to list price ratio also remained consistent 2015 – 97.61% vs. 2016– 97.06%.

      What Does This Mean For Condo Sales In Alexandria?
      The condo segment of the Alexandria real estate market remains a seller’s market for May. There is currently less than 3 months of available inventory. This isn’t bad news for buyers, interest rates remain low and inventory isn’t depleted to the point that bidding wars are occurring on every property. Buyers do need to be prepared to act quickly though. Getting pre-approved and hiring an agent who has full time availability to be flexible with touring and a proven successful track record is a must. Sellers need to keep in mind that while the market is leaning in your favor the necessity to properly prepare your Alexandria condo for sale remains imperative. Condos that are receiving multiple offers and going under contract quickly all have similar characteristics. They show well, are priced according to the market, and are easy for agents to schedule a tour for their buyers.

      If you would like more information on condos in Alexandria we always available for questions. We are well versed in the Alexandria real estate market and stand ready to assist buyers and sellers.

      Buyers: To browse homes for sale in Alexandria please visit the link. If you see a property that interests you contact us to find out how to start your home search. We can guide you through each step of your purchase and achieve you a successful transaction.

      Sellers: We are experienced in the Alexandria Real Estate market and welcome the opportunity to learn about your home. Contact us to setup up an in home consultation to discuss preparing your condo for sale and marketing strategies.

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