Real Estate Market Update For Alexandria VA – June 2016
Alexandria home sales experienced another increase in sales from May to June. Days on the market remained consistent, decreasing by just one day and sellers continue to enjoy a high sale to list price ratio.
Let’s check in …
The following is a review of activity in Alexandria during June 2016
•Number of Sales: 595 (increase from 571 in May)
•Highest Priced Sale: $1,750,000
•Lowest Priced Sale: $95,000
•Median Sales Price: $499,450 (increase from $490,000 in May)
•Median Days on Market: 11 (decrease from 12 in May)
•Median Sale Price to List Price Ratio: 98.20% (increase from 97.98% in May)
Alexandria Home Sales June 2015 vs. June 2016
The market is very similar as compared to the same time period last year. There were 582 homes sold in June 2015 and the median sale price was higher this year by $20,550. The median sale to list price ratio remained consistent, 97.72% in 2015 vs. 98.20% in 2016. Median days on the market also remained consistent, 14 in June 2015 and 11 in June 2016.
Is It A Buyer’s Market or a Seller’s Market?
The Alexandria real estate market remains a seller’s market. With that said sellers still need to properly prepare their home for sale. Hiring a local agent who can help you get your home ready for the market is key. From de-cluttering, staging, pricing, marketing, and everything in between the right agent can guide you every step of the way. While the market is leaning towards sellers it's not all bad news for buyers. Inventory isn't depleted to the point that every property is seeing multiple offers and interest rates remain low. Buyers do need to be prepared to act quickly in the current market as homes are not staying on the active for long. When the market is moving quickly lack of preparation can mean the home you fall in love with today is already under contract tomorrow.
Buyers: To see homes currently for sale in Alexandria please visit the link. Ready to start your home search? We are always available to answer questions and stand ready to assist. 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: It remains a great time to list your home for sale in Alexandria. We would love to learn more about your selling goals and setup the right marketing plan to take it from listed to sold promptly. Contact us for a free market analysis or to setup an in home consultation.