Blog :: 04-2018

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.

How Did Real Estate Sales Perform in Alexandria in March 2018?

How Did Real Estate Sales Perform in Alexandria in March 2018?
Seller's in Alexandria continue to have to negotiate very little if at all in the current market conditions. Days on the market remain very low and sales have been brisk. Supply is not keeping up with demand. Let's go over the numbers and then discuss the market.

 


 

Here are the stats for March 2018 in Alexandria…

•Number of Sales: 478 (an increase from 331 in February)

•Highest Priced Sale: $1,950,000

•Lowest Priced Sale: $85,000

•Median Sale Price: $479,975 (decrease from $516,000 in February)

•Median Days on Market: 11 (decrease from 21 in February)

•Median Sale Price to List Price Ratio: 98.48% (an increase from 97.77% in February)
 

 To gain some perspective let’s go back and compare to March 2017…

•Number of Sales: 460

•Highest Priced Sale: $2,200,000

•Lowest Priced Sale: $95,000

•Median Sale Price: $453,000

•Median Days on Market: 12

•Median Sale Price to List Price Ratio: 98.27%
 

Comparing the same timeframe from the previous year allows us to analyze how the market has changed. Median sale price is up by 5.95% as compared to March 2017 – the number of homes sold and sale to list price ratio saw very little change. Days on the market also remained consistent.
 

Active Listings in Alexandria
As of today, there are 796 homes for sale in Alexandria. An increase from 750 at this time last month. Certainly not a big jump in inventory and not nearly enough to keep up with demand but, we’ll take any increase we can get in the current market conditions! The lowest priced property is a studio condo with 471 square feet listed at $109,000 and the highest is a 6 bedroom, 4.5 bath single family home with 8,145 square feet listed at $8,500,000. Current active listings in Alexandria have an average of 38 days on the market.

 

Pending Sales in Alexandria
As of April 22, 
2018 there are 811 homes under contract. Median days on the market for the pending homes in Alexandria is 9.

View homes for sale in Alexandria
 

Seller’s continue to be in the driver’s seat in the Alexandria real estate market. Knowing that it’s a seller’s market doesn’t erase the need to properly prepare a home for sale and price it correctly. Failure to do that will inevitably impact a seller’s bottom line. Making the best first impression when listing your home is critical to a successful sale for the highest price in the shortest time. Be the home that sets a record high selling price for the neighborhood, not the home that sits and becomes stale inventory. No buyer pays top dollar for a home that’s been sitting on the market.

 

Homes that sell quickly in Alexandria all have similar characteristics: they are clean and well maintained, reasonably updated, uncluttered, and they are priced according to the current market. As a seller, when you meet these conditions your home will not only stand out from the competition it will also have the best opportunity to sell for top dollar.

 

 

Buyers have to be prepared to act quickly in the current market. Having a pre-approval in hand and working with an agent who has the flexibility to show a home that’s new to the market on short notice is a must. Days on the market continue to be extremely low and that leads to buyers needing to make a decision quickly if they want to make an offer on a property.

 

Reach out to Amanda at 703-431-3755 or email amanda@amandadavidson.com to talk about the marketability of your home. Market reports do a great job to provide general information but, nothing replaces a comprehensive market analysis from an agent who understands the intricacies of the Alexandria real estate market. Every home and its features influence where it should be priced. Achieving the maximum dollar for your home regardless of the current market conditions is always my goal. You need a full-service agent who has a successful track record not only selling homes but, selling them for top dollar!

Sold In Runnymeade Alexandria, Virginia 22310

5868 Langton Drive Alexandria, Virginia 22310

Langton Drive was on the market for just a day before going under contract. Receiving multiple offers within hours of going on the market and selling for $7,500 over list price. We are thrilled for our wonderful sellers. If you're considering selling your Runnymeade home and would like similar results, reach out to us. We welcome the opportunity to help.
 

Convenience and space are yours in this Alexandria townhouse.

Are you looking for a spacious townhouse in a convenient location?


 

If you are, you may want to check out this 3 level townhouse for sale in Runnymeade Subdivision.


It is a ready to move-in home featuring 3 spacious and well-appointed bedrooms, 2 full baths and 2 half bathrooms.


 

There’s also an updated kitchen with stainless steel appliances and granite countertops. You also get a lovely dining area, a welcoming living room, a family room on the fully finished walkout basement, and two decks!

On top of that, it is only minutes from the different towns, giving you plenty of options for shopping, dining or fun.

 

 

How Many Homes Should You See before Making an Offer?

 

 

Are you in search of your dream home?

 

House hunting can be an exciting experience. You get to tour different houses for sale in Kingstowne VA.

 

But how many should you see before making an offer especially considering a house is a huge investment?

 

The answer is there's no magic number!

 

It depends on your personal circumstances and what you're looking for.

 

If you're interested in just one neighborhood and you're focused in on that neighborhood alone, you're probably going to see fewer homes than someone who's focused on maybe multiple neighborhoods or maybe even multiple cities.

 

I also tell my clients that buying a home is an emotional experience. People make the decision to purchase based on their feelings. Research even shows that our emotions drive us more than we think when it’s time to make a home purchase.

 

The truth is people generally don’t select a house; they fall in love with it. You will know when you find the right home. There is a gut feeling and a connection when you find the right home. Trust your judgment.


 

You really don't have to think too much about how many homes you’ve seen. It really just depends on individual circumstances and it shouldn't come down to a number.

 

The right number of properties to view will be different for each person.  

 

For some, finding the right home comes quickly while for others, it can take much longer.

 

Let me share with you tips on how to streamline your house hunting process.

 

1. Identify your priorities

 

Before looking at any Kingstowne VA homes for sale, sit down and write out everything you want in a home. Differentiate between what you need and what you want in your new home.

 

Identify your lifestyle. Where do you work? What do you do for fun? Where do your friends live? Is the neighborhood you’re looking at ideal for that?

 

 

2. Determine what you can afford

 

Nothing spoils house hunting more than discovering a home is beyond your budget after you've fallen in love with it. Before you start looking for your potential home, calculate how much you can afford. You may use an online mortgage calculator or consult with a mortgage specialist to create your budget.

 

3. Work with the right agent

 

Looking for your next home can be a confusing and exhausting experience if you don’t have the right agent. That’s why I’m here to assist you!

 

As an experienced real estate agent, I can help you narrow your focus and your expectations right from the get-go. As your agent, I will listen to your needs and direct you to the homes in the neighborhoods you are interested in that fit your criteria and your budget. I will not waste your time by showing you homes that are out of your price range, or that don't have the features you want.

 

Buying a home is a great learning experience. With the right help and support from an experienced real estate agent, it can also be a rewarding journey.

 

Call me, Amanda Davidson, at 703-431-3755. Let’s find your next home together!

 

Condo Sales In Alexandria March 2018 Market Update

Condo Sales In Alexandria March 2018 Market Update
The stats are in for condo sales in Alexandria for March 2018. Let's look at the numbers and then go over the story behind them. 



March 2018 Condo Sales in Alexandria

•Number of Sales: 181 (increase from 118 in February)

•Highest Priced Sale: $775,897

•Lowest Priced Sale: $85,000

•Median Sales Price: $255,000 (decrease from $268,000 in February)

•Median Days on Market: 13 (decrease from 22 in February)

•Median Sale to List Price Ratio: 97.59% (increase from 97.43% in February)

 

How Does February 2017 Compare to February 2018?

The number of condos sold saw very little change, higher this year by ten units. Median sale price decreased this year by slightly under $11,000. Days on the market saw no change and the median sale to list price ratio also remained consistent 2017 – 97.70% vs. 2018 – 97.59%. Overall there was very little year over year change.
 


Current Condo Inventory in Alexandria
There are 238 condos for sale in Alexandria, a minor increase, really minor (16 units) from last month. There continues to be low inventory in Alexandria. New inventory that comes on the market and goes under contract quickly have similar characteristics – priced correctly, reasonably updated, shows well, and is convenient for agents to bring their buyers to for a tour. Although inventory is low that doesn’t mean buyers don’t resist overpriced condos, buyers are savvy and they do not go after condos that are overpriced. It’s very telling if a condo has been sitting for weeks on end, it’s overpriced. Do not make the mistake of overpricing your Alexandria condo if you are considering selling.

Is it a Buyers or a Seller’s Market?
The market remains
a seller’s market. Supply is not keeping up with demand and the low days on the market is telling of how quickly properties are moving. Buyers have to be prepared to act quickly when making an offer and making your very best offer right out of the gate has become a necessity.
 


If you’re considering selling the current market is in your favor. With that said, it does not mean you can overprice your home. Supply might be extremely low but, that doesn’t mean buyers won’t spot an overpriced home and eliminate it from their search. Planning ahead and teaming up with a local real estate agent that’s an expert in your area to properly execute a successful sale remains imperative. The details if preparing your home for sale, properly pricing it, and launching the right marketing plan will take you from listed to sold in the shortest time possible for the highest sale price possible.
 


To receive a free estimate on what your condo is worth in the current market visit our free home value tool.

If you’re buying or selling a condo in Alexandria and have questions reach out to us and let’s connect. We welcome the opportunity to learn about your real estate goals and are always happy to answer your questions.

Browse Alexandria Homes For Sale

 

 

A Little Kindness Goes A Long Way

A Little Kindness Goes A Long Way
In many areas the market is tight – low inventory, multiple offers, and rising interest rates
put the pressure on buyers, sellers, and agents. When the pressure is on it’s important to remember to remain calm and kind. No matter what the market conditions are bad behavior has no place in a real estate transaction.
 


As I reflect on the first quarter of 2018 and analyze its challenges a lack of kindness and respect stands out most. Everyone deserves both kindness and respect. Egos, attitudes, and demands do nothing but, raise tensions. They do not accomplish anything positive. Buying or selling a home is a marathon, not a sprint and it takes patience from all parties involved. I understand buyers and sellers getting stressed and acting emotionally but, I do not understand real estate agents that take that path. An agents emotions should never enter a real estate contract – NEVER.
 

There’s been a consistent flow of agents threatening, cursing, and making demands that aren’t reasonable. An example being submitting an offer on a listing and demanding my sellers respond within hours and accept the offer because they don’t want their buyer in a bidding war. On the opposite side when assisting buyers the listing agent who doesn’t return calls, texts, or emails can be a challenge as well. The current seller’s market won’t last forever but, the impression agents leave will. It’s a very small world and if there’s one thing we all remember it’s how people treat us. I often wonder if buyers and sellers know how their agent acts. Our clients deserve our absolute best at all times and that includes interaction with other agents.
 


 

Agent relationships are an important part of this business. That applies no matter what the market conditions are but, I think it makes an even bigger impact when the market is tight. A healthy and productive relationship with other agents only helps our clients. No one wants to work with a bully agent. While we represent different parties in the transaction we share the goal of getting both sides to closing with terms and conditions that are a win-win for the buyer and the seller.
 


 

As agents we can’t let stress get to us. No matter how much stress we’re feeling we should always treat others how we would like to be treated. A little kindness goes a long way.

 

Kingstowne Housing Market Update March 2018

Kingstowne Housing Market Update March 2018

The real estate market in Kingstowne is showing no signs of slowing down. March was another strong month for sales, let's check in on the numbers and then talk about the story behind them.
 

Home sales in Kingstowne March 2018

•Number of Sales: 47
•Highest Priced Sale: $829,000
•Lowest Priced Sale: $313,500
•Median Sales Price: $490,000
•Median Days on Market: 5
•Median Sale Price to List Price Ratio: 99.12%

To gain some perspective let’s go back and compare to March 2017…

•Number of Sales: 43
•Highest Priced Sale: $745,000
•Lowest Priced Sale: $265,951
•Median Sale Price: $460,000
•Median Days on Market: 9
•Median Sale Price to List Price Ratio: 98.68%

 


Days on the market decreased from February to March, the lowest we’ve seen in 2018. Coming in at just 5 this statistic is very telling of the current seller’s market Kingstowne is experiencing. Sellers are seeing over 99% on the sale to list price ratio and that tells us they’re having to do very little if any negotiating with buyers.

 

There are currently 75 homes for sale in Kingstowne. View homes for sale in Kingstowne. Inventory is by no means plentiful and supply still isn’t keeping up with demand but, buyers do have more homes to pick from than they did this time last month. The spring market is in full swing and with new homes coming on the market regularly buyers are poised to secure their dream home. Although it’s a seller’s market that doesn’t mean every home sells quickly and for top dollar. Buyers are savvy and can spot an overpriced home when they see one. If you are selling your Kingstowne home it’s imperative that it shows well, is reasonably updated, and is priced correctly.
 


The Kingstowne real estate market is competitive and when buying or selling you need a full-time agent that understands the strategies that are needed to be successful in a tight market. Buyers have to be prepared to act quickly, waiting days to tour a home can mean it’s already gone before you take a tour. Work with an agent who has the flexibility to move quickly when a new listing comes on the market. If you’d like to know more about the Kingstowne real estate market or have questions reach out to us. 

 


Find out the value of your Kingstowne home here – free estimate. Our home value tool is just a guide if you are looking for an accurate analysis of the current value of your home nothing replaces the expertise of a local agent with years of experience selling homes.

 

 

 

 

Springfield Restaurant - Della J's Delectables

If you didn't know already, there's an awesome soul food spot in Springfield that's gaining huge popularity for it's delicious Southern fare. Della J's Delectables serves classic comfort food dishes and by the looks of their ratings on Yelp and Facebook pages, people are loving it!

I was lucky enough for my office to take me to Della J's to celebrate my birthday this year and I'm so glad they did. I ordered the "chicken and waffles" entree which was amazing. I was fortunate enough to sample the food of my companions and everything I tasted was delicious and I highly recommend their mac-n-cheese and homemade biscuits. They're known for their fried chicken and it certainly did not dissapoint so I'm already planning to go back with friends soon to share this gem of a restaurant with them. If you're in the Springfield area, make sure to check out Della J's Delectables, I'm certain you won't regret it!

 

chicken and waffles

homemade biscuits

bbq ribs, mac-n-cheese, cole slaw

fried chicken wings, collard greens, mac-n-cheese

I can't remember which drinks this was, just know that it was delicious! 

 

 

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Under Contract! 5500 Holmes Run Parkway #1201 Alexandria, Va 22304 | Place One Condo For Sale

Under Contract! 5500 Holmes Run Parkway #1201 Alexandria, Va 22304 | Place One Condo For Sale

Multiple offers and on the market just six days this Place One condo is now under contract. Located minutes from metro, 495, and 395 it’s in a convenient location for commuting and daily needs. Offering 850 square feet of living space and city views from the 12th floor.
 


This Alexandria condo features 1 bedroom, 1 full bath, and 1 half bath. You’ll love the spacious master bedroom with a walk-in closet and attached updated master bath.
 


Place One is an amenity-rich community with secure entry, 24-hour security, front desk attendant, outdoor pool, tennis court, sauna, exercise room, dog park, and garage parking. This condo sells with an extra storage unit. Enjoy the best of both worlds with low maintenance living and a convenient location.

 

 

 

 

 

When Your House Is For Sale Declining Showings Is Not A Good Plan

Declining Showings While Your House Is For Sale Is Not A Good Plan
When your house goes on the market it’s a time to tap into every ounce of flexibility you have. As a seller, declining showings is a sure way to extend the time your home is on the market, impact your bottom line, and cause yourself more work in the long run. A house that can’t be shown isn’t likely to be sold. It’s currently a seller’s market in the Alexandria area but, that doesn’t mean the necessity to allow showings on your home is erased.

 


The thought process that a buyer will just reschedule for another time isn’t a good one. We recently had a listing where the seller was declining about 50% of the showings. If the timing wasn’t just right for the sellers schedule the showing was declined. Reasons varied from I’m working from home on X day or I don’t want to have to wait to come home after work. Of all the showings that were declined only one was rescheduled. ONE! Buyers and their agents have schedules too and by declining a showing request a seller risks losing that buyer. Think about if they have a few homes set up to tour on a certain day. They might fall in love with one of those homes, make an offer, and never have a need to come back to the house that declined their showing request. Some buyers even take a declined showing request as a sign the seller will be difficult to work with and decide it’s best to just move on.
 


Having your home on the market is a lot of work. It’s a guarantee your daily routine is going to be interrupted. It requires getting up earlier to clean, make beds, and put away any clutter that landed on tables and counters from the night before. It also requires you to be away from your home even when it’s not convenient to be. It’s best to approve all reasonable showing requests. I say reasonable because there are always those times a call comes in for a showing request with 5 minutes notice – that I can definitely understand not being possible in most cases. However, if the showing instructions have been followed approving the requests is the best plan. As a seller, you’re more likely to go under contract faster and then not have to worry about showing requests. Any request that you decline could have been your homes new buyer but, it’s rare if you’ll ever know because they won’t likely reschedule for another time.



Going back to the listing we had, it stayed on the market three times longer than any other listing we’ve had in over three years. Because of that, the buyer saw room for negotiation and it ultimately cost the seller on their bottom line. It wasn’t that the home wasn’t nice, it showed beautifully but, if buyers can't get in to see a home they don't know how well it shows in person. Buyers can see a lot online in today’s world and that’s a great thing but, for most, it’s a necessity to get inside a home and walk through it to see if it’s the one. Buyer’s need the opportunity to make that emotional connection that causes them to then want to make an offer. No matter where you live or what the current market conditions are – if you are selling your home approving showing requests is a must. Being flexible with your schedule will pay off!

 

 

 

 

5 Things To Love About Living In Kingstowne

5 Things To Love About Living In Kingstowne

Kingstowne is located in Alexandria, Virginia and is one special place. It's home to shopping, dining, entertainment, and plenty of green space – all within minutes from its welcoming neighborhoods. This charming and thriving area has so much to offer its residents. Here are our top 5 things to love about living in Kingstowne.
 


 

1. Kingstowne Towne Center – from daily needs to entertainment the Towne Center is centrally located and a popular spot in the area. With over 25 dining options, 2 grocery stores, and many retail locations it’s got something for everyone.
 


2. Kingstowne 16 Movie Theater – the theater is also located in Kingstowne Towne Center. It’s a great place to catch a movie and relax in their stadium seating. If you’re looking for a treat after your movie stroll across the street to sweetFrog.
 


3. Green Space – Kingstowne is home to over 1,200 acres of green space. Residents enjoy miles of walking trails and the beautiful lake.
 


4. Kingstowne Farmers Market – the farmers market is open from May to October and takes place every Friday from 4pm to 7pm in the parking lot between Giant Food and Fiona’s Irish Pub. Not only does the market have amazing vendors with fresh produce, veggies, meat, and baked goods it’s also a social event. Nothing better than running into your neighbors at the farmers market.
 


5. Family Fun – there’s no shortage of family-friendly fun in the Kingstowne area. Check out Cameron Run Regional Park during the summer for water slides, a wave pool, and mini golf. If it’s not warm enough for water fun visit ShadowLand for a game of laser-tag. For a history lesson head to Mount Vernon to take a tour of George Washington’s estate overlooking the Potomac River.
 


Needless to say we think Kingstowne is a great place to call home. Located about 12 miles outside of Washington, DC the options for fun and adventures are endless.

 

 If you’re considering making a move to the Kingstowne area check out homes that are currently for sale.