Alexandria Real Estate Market Update – June 2017
Sales continued to be strong during June in Alexandria. We did see a decrease in the median sale to list price ratio but, the number of sales increased and days on the market saw no change.
Let’s check in on the statistics and then review story behind them …
Real Estate Activity in Alexandria During June 2017
•Number of Sales: 652 (increase from 606 in May)
•Highest Priced Sale: $3,900,000
•Lowest Priced Sale: $100,000
•Median Sales Price: $482,300 (increase from $455,450 in May)
•Median Days on Market: 9 (no change from May)
•Median Sale Price to List Price Ratio: 98.50% (decrease from 98.68% in May)
Alexandria Home Sales June 2016 vs. June 2017
In June 2016 there were 609 homes sold, the median sale price was higher last June by $2,075. Days on the market in 2016 came in at 12 and sellers saw a 98.99% sale to list price ratio. Very similar statistics for both June 2016 and June 2017.
Bottom Line -
Alexandria remains a seller’s market. There are currently 1,023 homes for sale in Alexandria. Inventory levels remain similar to May. This is good news for buyers as inventory has increased since March. There continues to be less than a 3 month supply which points to the current seller’s market we continue to experience. It remains a great time to sell in Alexandria – days on market are low and sale to list price ratio is high. Even with the market favoring sellers that doesn’t mean you can forgo properly preparing your home for sale. All the details matter and you only get one chance to make the right first impression with buyers. Work with a local agent that knows your neighborhood and who can help you with preparing your home for sale, properly pricing your home, and who is an expert negotiator.
Are you thinking about purchasing a home in Alexandria but, aren’t sure how to get started? Contact us! We look forward to answering your questions. If you’d like a copy of our VIP Homebuyers Guide reach out to us and we’ll be happy to send you one.
We have programs and systems in place for our buyers and sellers to create accountability and guarantees for our service. Ask us about our Love It or Leave It and our Guaranteed Sale Programs.
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