Blog :: 08-2016

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 July 2016

Real Estate Market Update For Alexandria VA – July 2016

Alexandria home sales experienced a decrease in sales from June to July. Nothing to be overly concerned about as July is typically a big month for family vacations and the extreme heat the DMV has been experiencing sure hasn’t encouraged home buyers to be out and about. Days on the market inched up a bit and the median sale price saw a slight decrease but, nothing substantial.

Let’s check in …

The following is a review of activity in Alexandria during July 2016
•Number of Sales: 543 (decrease from 595 in June)

•Highest Priced Sale: $3,765,000

•Lowest Priced Sale: $54,900

•Median Sales Price: $484,750 (decrease from $490,000 in June)

•Median Days on Market: 20 (increase from 11 in June)

•Median Sale Price to List Price Ratio: 97.31% (decrease from 98.20 in June)

Alexandria Home Sales July 2015 vs. July 2016
The market is very similar as compared to the same time period last year with the exception of median sale price which saw a healthy increase. The same amount of homes sold in both July 2015 and 2016 – 543. The median sale price was higher this year by $19,750. The median sale to list price ratio remained consistent, 97.45% in 2015 vs. 97.31% in 2016. Median days on the market also remained consistent, 18 in July 2015 and 20 in July 2016.

Is It A Buyer’s Market or a Seller’s Market?
The Alexandria real estate market remains a seller’s market with the absorption rate coming in at slightly over 2 months. Buyers are still taking advantage of amazingly low interest rates and while it’s a seller’s market inventory isn’t depleted to a point that there are bidding wars on every house for sale. Seller’s 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. Now is a great time to accomplish your real estate goals whether you’re buying or selling in Kingstowne.

Buyers: To see homes currently for sale in Alexandria please visit the link. Ready to begin your home search? We are always available to answer questions, whether you aren’t sure where to start or have a property you’d like to tour we’d love to hear from you. We have systems in place to achieve you a successful purchase with the best terms possible. Ask us about our Love It or Leave It program!

Sellers:It remains a great time to list your home for sale in Alexandria. If you’d like to know the current value of your home contact us for a no obligation market analysis. We welcome the opportunity to learn about your selling goals and show you how we can help you accomplish them. We offer a Guaranteed Sale Program and will create a marketing plan to give your home maximum exposure.

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    Condo Sales in Alexandria, VA Market Update July 2016

    Condo Sales in Alexandria, VA – Market Update July 2016

    Condo sales in Alexandria saw decrease from June to July, but not by a large amount and the sale to list price ratio remains strong.

    Let’s check in….


    July 2016 Condo Sales in Alexandria
    •Number of Sales: 170 (decrease from 196 in June)
    •Highest Priced Sale: $875,000
    •Lowest Priced Sale: $90,000
    •Median Sales Price: $260,000 (no change from June)
    •Median Days on Market: 24 (increase from 19)
    •Median Sale to List Price Ratio: 96.85% (decrease from 97.02%)

    How Does July 2015 compare to July 2016?
    There were 3 more condos sold last July than this year. The median sale price was lower last July but, not by much, just a difference of $2,000. Days on the market remained consistent 22 in 2015 and 24 in 2016. The median sale to list price ratio also remained consistent 2015 – 96.76% vs. 2016– 96.85%.

    What Does This Mean For Condo Sales In Alexandria?
    The condo segment of the Alexandria market remains shifted towards sellers but, it's bad news for buyers. Inventory levels have increased and in turn buyers are enjoying having more condos to choose from while taking advantage of the incredible interest rates right now. Seller's should understand that while the market is shifted in your favor that doesn't decrease the importance of properly preparing your Alexandria condo for sale. Condos that are going under contract quickly show well, are priced according to the market, and are easy for agents to schedule a tour for their buyers. Selecting a local agent that can help you prepare your condo for sale, correctly price it, and guide you through negotiations is imperative to achieve the maximum sale price and best terms.

    If you would like more information on condos in Alexandria we are always available for questions. We are well versed in the Alexandria real estate market and stand ready to assist buyers and sellers. Contact us for a free strategy session today!

    Buyers: To browse homes for sale in Alexandria please visit the link. If you see a property that you'd like to tour or have questions about don't hesitate to reach out to us. We welcome the opportunity to assist you with your next home purchase.

    Sellers: We are experienced in the Alexandria Real Estate market and our marketing has a proven successful track record. Contact us to tell us about your home and your selling goals. We'd love to meet for a no obligation consultation and show you how we can promptly take your home from listed to sold.

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      Sales Tax Holiday Tax Free Weekend in Virginia August 5 to 7, 2016

      Sales Tax Holiday – Tax Free Weekend in Virginia August 5-7, 2016

      This weekend is a great time to get out and purchase qualifying school supplies, clothing, footwear, hurricane and emergency preparedness items, Energy Star and WaterSense products. Take advantage of the legislation that was enacted by the 2015 General Assembly to combine Virginia’s three sales tax holidays into one three-day holiday. The Sales Tax Holiday will begin Friday, August 5, 2016 at 12:01 a.m. and end Sunday August 7, 2016 at 11:59 p.m. The holiday includes qualifying items that are purchased online, in person, by mail, or via phone. In addition to qualifying items retailers may also elect to offer other items “tax free” by paying the sales tax themselves during the holiday. With school coming back into session soon this can amount to a large savings and will have the kids all prepared for their first day back. Even better, if you’ve been considering upgrading some appliances, faucets, toilets, showerheads or irrigation control items in your home, this weekend is a great time to do it and avoid any tax.

      View a list of qualifying school supplies and clothing items.

      View a list of qualifying hurricane preparedness items.

      View a list of qualifying Energy Star and WaterSense preparedness items.

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