Alexandria Virginia Home Sales - October 2016
Alexandria home sales saw a decrease in the number of homes sold from September to October. Median sale price decreased and days on the market remained the same. A decrease in sales this time of year is very normal and something we typically see as the winter months approach.
Let’s check in …
The following is a review of activity in Alexandria during October 2016
•Number of Sales: 356 (decrease from 432 in September)
•Highest Priced Sale: $1,956,900
•Lowest Priced Sale: $95,000
•Median Sales Price: $447,500 (decrease from $463,470 in September)
•Median Days on Market: 21 (no change from September)
•Median Sale Price to List Price Ratio: 97.38% (decrease from 97.47% in September)
Alexandria Home Sales October 2015 vs. October 2016
In October 2015 there were 367 homes sold. The median sale price was higher this year by $3,500. The median sale to list price ratio remained consistent, 97.17% in 2015 vs. 97.38% in 2016. Median days on the market saw no change – 21 days for both October 2015 and 2016. Overall the market is seeing very similar trends this October as compared to last.
Is It A Buyer's Market or a Seller's Market
Although sales decreased from September to October the Alexandria real estate market remains a seller’s market with the absorption rate remaining at about 2.5 months. Homeowners considering selling have been curious if now is still a good time to sell. While sales are slower this time of year it is still a good time to list your home for sale. There are many buyers actively looking for their next home, some who didn’t find the right home over the summer and others who are just entering the market. Less active listings paired with serious buyers in the market makes today’s market a good time to sell. It’s important to remember that properly preparing your home for sale, pricing it correctly, and ensuring it’s easy for agents to show are all part of a successful sale. Selecting a local agent that can help you with each step of the sale who is experienced in your area is the key to achieving top dollar in the shortest time possible.
If you’d like to learn more about the Alexandria real estate market contact us. We’d be happy to answer your questions. We have programs and systems in place to create accountability and guarantees for our service. Ask us about our Love It or Leave It guaranteed and our Guaranteed Sale Program.