Blog :: 09-2016

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.

Alexandria Market Update August 2016

Alexandria Market Update August 2016

Alexandria home sales saw a decrease from July to August, median sale price, days on the market, and sale to list price ratio all remained fairly consistent. It’s not uncommon to see real estate slow in August with many people heading out of town for vacations and even with less sales seeing the median sale price remains consistent is good news.

Let’s check in …

The following is a review of activity in Alexandria during August 2016

•Number of Sales: 499 (decrease from 543 in July)

•Highest Priced Sale: $2,900,000

•Lowest Priced Sale: $86,000

•Median Sales Price: $483,495 (decrease from $484,750 in July)

•Median Days on Market: 24 (increase from 20 in July)

•Median Sale Price to List Price Ratio: 97.29% (decrease from 97.31% in July)

Alexandria Home Sales August 2015 vs. August 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. In August 2015 there were 482 homes sold and this August there were 499 homes sold. The median sale price was higher this year by slightly over $36,000. The median sale to list price ratio remained consistent, 97.49% in 2015 vs. 97.29% in 2016. Median days on the market very little change, 20 in August 2015 and 24 in August 2016. All positive stats for Alexandria, consistency when comparing stats in the same month from the previous year shows stability.

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 remaining at just about 2 months. Many sellers have been inquiring if fall is still a good time to list their home and in our professional opinion it is. There are still plenty of buyers actively seeking their next home and many are aiming to be moved in before the holidays. Sellers can take advantage of the fall curb appeal and with the right agent guiding them through the process achieve a successful sale. Buyers, interest rates are still very low and with a bit more inventory than the spring and summer you can take advantage of having more homes to select from. That said, it is still a seller’s market so it’s important to be prepared to move quickly when you locate the right home. Those that are presented well and priced correctly are still going under contract in a short amount of time.

Browse homes for sale in Alexandria

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    Homes Sold in Kingstowne August 2016 Market Report

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

    Single Family Home Sales in Kingstowne August 2016:
    •Number of Sales: 12 (increase from 8 in July)
    •Highest Priced Sale: $930,000
    •Lowest Priced Sale: $431,000
    •Median Sale Price: $524,150 (decrease from $535,750)
    •Median Days on Market: 21 (increase from 9)
    •Median Sale Price to List Price Ratio: 97.40% (decrease from 98.50%)

    Kingstowne experienced an increase in the number of detached homes sold in August as compared to July. Median sale price saw a decrease and days on the market increased but, overall remain low. Always an interesting segment of the market detached homes in Kingstowne are moving very quickly and the homes that are priced correctly and show well are going under contract in just a matter of a couple days. We often see a fluctuation in median sale price and in most cases it can be attributed to the small sample of data one month of sales yields. The Kingstowne real estate market is hyper-local and there are many different styles and sizes of detached homes in 22315. Because of that they sell at very different prices. All of the homes sold in August 2016 were regular sales. They ranged from 4-6 bedrooms, 2-5 full bathrooms and 1,144 – 5,016 square feet. There are currently 18 detached homes for sale in Kingstowne, an increase of one home as compared to available homes for sale in July.

    August 2015 vs. August 2016
    Reviewing the same time period last year there were 10 single family homes sold. Median sale price was $542,250 and days on the market were 26. Sellers saw a median sale to list price ratio of 96.93% in August of 2015.

    Townhouse Sales in Kingstowne August 2016:
    •Number of Sales: 32 (decrease from 53 in July)
    •Highest Priced Sale: $624,000
    •Lowest Priced Sale: $318,160
    •Median Sale Price: $454,250 (increase from $441,414)
    •Median Days on Market: 25 (increase from 11)
    •Median Sale Price to List Price Ratio: 97.90% (decrease from 98.39%)

    The number of townhomes sold in Kingstowne in August saw a decrease as compared to July. Median sale price saw an increase and days on the market also increased. It’s not uncommon to see longer says on the market in August. It’s a popular month for vacations before school starts back up and that can impact how long it takes to sell a home. The townhomes that sold in August ranged from 2-4 bedrooms, 1-3 full bathrooms, and 930 – 2,139 square feet. There are currently 59 townhomes for sale in Kingstowne, which is an increase of 5 homes as compared to July.

    August 2015 vs. August 2016
    There were 8 more townhomes sold last August than this year. Median sale price was higher this August by $24,255. Days on the market saw very little change, higher this year by 4 days. Sale to list price ratio remained consistent 97.85% in 2015 and 97.90% this year.

    Buyers: Whether you just have questions or are ready to start touring homes we welcome the opportunity to work with you. We have programs and systems in place to ensure you secure your new home for the best price and best terms possible. Contact us today, we stand ready to assist!

    Sellers: As we enter Fall it still remains a great time to list. Seeking a local agent with proven marketing is essential for a successful sale. We’d love to hear from you and learn more about your home. We offer a Guaranteed Sale Program and have successful track record selling homes in Alexandria. Contact us to have all of your questions answered or to setup an in home consultation today.

    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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      Alexandria Virginia Condo Sales Market Update August 2016

      Alexandria Virginia Condo Sales – Market Update August 2016

      Let’s check in….

      August 2016 Condo Sales in Alexandria

      •Number of Sales: 185 (increase from 170 in July)

      •Highest Priced Sale: $1,000,000

      •Lowest Priced Sale: $86,000

      •Median Sales Price: $265,000 (increase from $260,000 in July)

      •Median Days on Market: 28 (increase from 24 in July)

      •Median Sale to List Price Ratio: 96.85% (decrease from 97.02%)

      How Does August 2015 compare to August 2016?

      There were 23 more condos sold this August as compared to last year. The median sale price was lower this August by $20,575. Days on the market remained consistent 24 in 2015 and 28 in 2016. The median sale to list price ratio also remained consistent as well, 2015 – 97.00% vs. 2016– 96.85%.

      What Does This Mean For Condo Sales In Alexandria?

      The condo market in Alexandria remains a seller’s market, August was very strong this year and saw a lot of activity. Buyers are still enjoying low interest rates and while it’s a seller’s market inventory has increased as compared to June and July which gives them a nice selection of condos to pick from. Seller's still need to 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 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. Selecting a local agent that can help you from start to finish is imperative for a successful and smooth sale.

      If you would like more information on Alexandria condos don’t hesitate to contact us with questions. We’d love to learn more about your real estate needs. Contact us for a free strategy session today!

      Browse Alexandria Homes For Sale

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        Kingstowne in Alexandria VA Market Report July 2016

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

        Single Family Home Sales in Kingstowne July 2016:
        •Number of Sales: 8 (decrease from 15 in June)
        •Highest Priced Sale: $759,990
        •Lowest Priced Sale: $425,000
        •Median Sale Price: $535,750 (decrease from $580,000)
        •Median Days on Market: 9 (increase from 8)
        •Median Sale Price to List Price Ratio: 98.50% (increase from 98.07%)

        Kingstowne saw a decrease in the number of homes sold in July as compared to June. Median sale price saw a decrease and days on the market remain low but, did increase by 1 day. Always an interesting segment of the market detached homes in Kingstowne are moving very quickly and the homes that are priced correctly and show well are going under contract in just a matter of a couple days. We often see a fluctuation in median sale price and in most cases it can be attributed to the small sample of data one month of sales yields. There are many different styles and sizes of detached homes in 22315 and because of that they sell at very different prices. There are currently 17 detached homes for sale in Kingstowne, there was no change in inventory levels from June to July.

        July 2015 vs. July 2016
        Reviewing the same time period last year there were 11 single family homes sold. Median sale price was substantially lower last year coming in at $510,500. Days on the market are much lower this year – 32 in 2015 compared to 9 in 2016. Many single family homeowners in Kingstowne continue to see their equity increase.

        Townhouse Sales in Kingstowne July 2016:
        •Number of Sales: 53 (increase from 46 in June)
        •Highest Priced Sale: $577,450
        •Lowest Priced Sale: $369,000
        •Median Sale Price: $441,414 (decrease from $471,000)
        •Median Days on Market: 11 (increase from 8)
        •Median Sale Price to List Price Ratio: 98.39% (decrease from 98.60%)

        The number of townhomes sold in Kingstowne also saw an increase from June to July while the median sale price saw a decrease. As frequently happens the numbers don’t tell the whole story. There were multiple 2 bedroom 2 bath townhomes with less than 1,500 square feet that impacted the median sale price. The townhouse segment of the Kingstowne market remains a seller’s market and sellers continue to see a strong sale to list price ratio with low days on the market. There are currently 54 townhomes for sale in Kingstowne, no change in available inventory from May to June.

        July 2015 vs. July 2016
        There were 8 more townhomes sold this July than July 2015. Median sale price was higher this July by $18,414. Days on the market saw very little change, lower last year by just a day. Sale to list price ratio remained consistent 97.95% in 2015 and 98.39% this year. Similar to detached homes appreciation on townhomes in Kingstowne continues.

        Buyers: We’d love to help you with your Kingstowne home search. Whether you just have questions or are ready to start touring we welcome the opportunity to work with you. We have programs and systems in place to ensure you secure your new home for the best price and best terms possible. Contact us today, we stand ready to assist!

        Sellers: It remains a great time to list your Kingstowne home for sale. Seeking a local agent with proven marketing is essential for a successful sale. We’d love to hear from you and learn more about your home. We offer a guaranteed sale program and have successful track record selling homes in Alexandria. Contact us to have all of your questions answered or to setup an in home consultation today.

        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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