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How Did Real Estate Sales Perform in Alexandria in December 2017?

How Did Real Estate Sales Perform in Alexandria in December 2017?
Home sales for Alexandria are in for December 2017? If you’re wondering if it’s the right time to buy or sell the answer is yes! There is only 2+ month’s supply of inventory available in Alexandria and that means two things. Buyers are waiting for new inventory and sellers can take advantage of the low inventory levels.



Here are the stats for December 2017 in Alexandria…

•Number of Sales: 373 (decrease from 428 in November)

•Highest Priced Sale: $1,925,000

•Lowest Priced Sale: $97,500

•Median Sale Price: $475,000 (increase from $457,125 in November)

•Median Days on Market: 27 (increase from 18 in November)

•Median Sale Price to List Price Ratio: 97.00% (decrease from 97.40% in November)

 


To gain some perspective let’s go back and compare to December 2016…

•Number of Sales: 422

•Highest Priced Sale: $2,910,000

•Lowest Priced Sale: $105,730

•Median Sale Price: $434,450

•Median Days on Market: 29

•Median Sale Price to List Price Ratio: 96.87%
 

November 2017 was a very active month and it’s not uncommon to see a slowdown in the number of homes sold in December due to the holidays but, what’s very telling of the current low inventory trend is the number of homes sold in December 2017 is down by over 11% as compared to December 2016. The median sale price is also up by over 9%. We will be intently watching the numbers to see how January shakes out but, there’s no doubt that low inventory continues to be a factor in the Alexandria housing market.

 


Active Listings in Alexandria
As of today there are 593 homes for sale in Alexandria. The lowest priced property is listed at $112,000 and the highest is listed at $5,745,000 amount with an average of 73 days on the market.

Pending Sales in Alexandria
As of today there are 421 homes under contract. Median days on the market for the pending homes is 40.

Buyers in today’s market are informed about inventory levels and current homes available for sale. They monitor current interest rates and resist homes that are overpriced which in turn causes them to sit on the market and become stale inventory. Making the best first impression when listing your home is critical to a successful sale.

Homes in Alexandria that are selling the quickest have several characteristics in common: they are well maintained, reasonably updated, clean and uncluttered, and they are priced according to the current market. As a seller if you meet these conditions your home will not only stand out from the competition it will also have the best opportunity of going from listed to sold ahead of the competition too.

 

 

Reach out to Amanda at 703-988-3151 or email amanda@amandadavidson.com to talk about the marketability of your home. Market reports are great for general information but, nothing replaces a comprehensive market analysis. Every home and its features influence its price. Achieving the maximum dollar for your home regardless of the current market conditions is always our goal.

Homes For Sale in Alexandria
Search for homes in Alexandria

 

 

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