Alexandria

Real Estate Market Update For Alexandria VA May 2016

Real Estate Market Update For Alexandria VA – May 2016
Alexandria home sales experienced another increase in sales from April to May. Days on the market remained consistent, increasing by just a day. The median sale price saw a healthy increase and sellers are seeing almost a 98% sale to list price ratio.

Let’s check in …

The following is a review of activity in Alexandria during May 2016.

•Number of Sales: 571 (increase from 487 in April)

•Highest Priced Sale: $2,325,000

•Lowest Priced Sale: $105,000

•Median Sales Price: $490,000 (increase from $440,400 in April)

•Median Days on Market: 12 (decrease from 11 in April)

•Median Sale Price to List Price Ratio: 97.98% (increase from 98.03% in April)

Alexandria Home Sales May 2015 vs. May 2016
The market is very similar as compared to the same time period last year. There were 548 homes sold in May 2015 and the median sale price was higher this year by $23,000. The median sale to list price ratio remained consistent, 98.30% in 2015 vs. 97.98% in 2016. Median days on the market also remained consistent, 10 in May 2015 and 12 in May 2016.

Is It A Buyer’s Market or a Seller’s Market?
The Alexandria real estate market remains a seller’s market. The spring market has been extremely busy in Alexandria and sellers are enjoying low days on the market and high sale to list price ratios but, that doesn’t make it a bad time to buy. Rates have remained consistent and are still low. Buyers are also enjoying a bit more inventory than during early Spring. The homes that are moving quickly and receiving multiple offers in Alexandria all have similar characteristics; they show well, are priced according to the market, and are easy for agents to bring their buyers to for a tour. Buyers do need to be prepared to act quickly in the current market as homes are not staying active for very long. Getting pre-approved in advance and having an agent that can promptly show you homes is imperative to be successful in the current Alexandria market conditions. The market is moving quickly and lack of preparation can mean the home you fall in love with today is already under contract tomorrow. When it’s time to buy or sell in Alexandria working with an agent that knows the local market and has a proven successful track record remains imperative.

Buyers: To see homes currently for sale in Alexandria please visit the link. We are always available to answer questions about your home search and welcome the opportunity to put our expertise to work for you. We have systems in place to achieve you a successful purchase with the best terms possible. Contact us to request a strategy session or to start your home search today.

Sellers: High sale to list price ratios and low days on the market make now a great time to list in Alexandria. We would love to learn more about your home and show you how our marketing can take it from listed to sold promptly. Contact us for a free market analysis or to setup an in home consultation.

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    Myron Mixon's Pitmaster Barbeque

    Attention all local foodies and barbeque enthusiasts alike, some new star power has made its way to our area! Myron Mixon, “the winningest man in BBQ”, just opened a new restaurant in Old Town, Alexandria. Upon learning this, we were literally overjoyed by the chance to try some serious competition level barbecue and meet Myron in person!

    We were lucky enough to attend his Whole Hog Grand Opening event and Myron -being a famous TV barbecue judge and author- did not disappoint one bit! Not only does his barbecue melt in your mouth and taste amazing but Myron is so personable and down-to-earth, you’d feel as if you’ve known him forever.

    The menu includes all the traditional BBQ favorites such as pulled pork, brisket, ribs and BBQ chicken, as well as classic southern side dishes that everyone loves; including mac-n-cheese, baked beans, and collard greens!

    The next time you’re in Old Town, do yourself a favor and stop by Myron Mixon’s Pitmaster Barbeque and tell them the Amanda Davidson Real Estate Group sent you.

    Warning: the images below may cause severe hunger and/or salivation…you’ve been warned!

     Blog courtesy of JeMai Wright

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      Old Town, Alexandria Bookstore Hooray For Books

      Hooray For Books is an independent children’s bookstore located on King Street in Alexandria. This charming bookstore will be celebrating their 9th year in business on June 10, 2017. We had the pleasure of sitting down with the owner Ellen Klein recently to learn more about this special store.

      Hooray For Books is a staple to the Old Town community, they have free weekly story time on Friday and Saturday mornings, host authors regularly, host LOLA (love our local authors) festivals twice a year, arrange for authors to visit local schools at no charge to promote literacy, and have book clubs for children and adults. The bookstore also has ARC (advance reader copy) where kids are able to read books ahead of them being published. Ages 6 to high school can leave reviews. Ellen says she loves how honest the children are and how willing they are to give feedback. She then uses that to determine what and how many of the different books she should order for the store.

      Hooray For Books doubled its size in 2015 and has now added an adult books section to the store. Ellen held a fundraiser to help with the expansion and said: “it couldn’t have been possible without our loyal customers.” She wanted the donated funds to go for items that her customers could actually see and use; one of those items being 50 new matching chairs. The chairs are set up for author visits and other events – right where her loyal customers can make good use of them.

      During our chat, Ellen would pause to say hello and chat with a regular – greeting them by name. Children would bound through the door and head straight to the back knowing exactly what section of books they wanted to check out. Hooray For Books immediately makes you feel like family and with its expansion, now has something for everyone – including adults.

      Their hours are Monday – Saturday 10am to 8pm and Sunday 10am to 6pm

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        New Restaurant In Old Town Meggrolls

        One of the newest and most highly anticipated additions to the Old Town food scene is Meggrolls. Owner Meghan Baroody has put a unique spin on the traditional egg roll and is quickly gaining fans with her tasty offerings.

        Meggrolls offers classic, comfort-food flavors inside the crispy crust of an egg roll. Genius, right? We had the pleasure of tasting a few flavors and they are out of this world delicious! My personal favorite would have to be the Buffalo Chicken Wing roll which comes complete with a small stalk of celery atop the roll and your choice of ranch or bleu cheese. Other flavors you’ll find on the menu include Chicken Parm, Gyro, Chorizo Poblano, Four Cheese and Broccoli, and Burger. There’s also a variety of slaws to accompany your meggrolls as well as hand-cut, boardwalk fries!

        Meggrolls has already developed somewhat of a cult-like following from its food truck days in Arlington, so we're so pleased to have it a little closer to our neck of the woods. We got a chance to chat briefly with Meghan and in just the short time meeting her, you can see how hard she’s worked to bring this dream of hers to fruition. Meghan, being an Alexandria native and having worked as a bartender for several years in Old town, is thrilled to have her first storefront in the place she calls home. Meghan is still doing some special food truck events here and there as well as offering catering.

        The Washingtonian dubbed Meggrolls as one of a few must-try new restaurant’s and we’re happy to second that notion!

        Check out Meggrolls at 107 N Fayette St, Alexandria, VA 22314 and come back and tell us what your favorite flavor is!

        Blog courtesy of JeMai Wright

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          Alexandria Real Estate Market Update May 2017

          Alexandria Real Estate Market Update – May 2017

          May was another strong month for sales in Alexandria. The median sale price slightly decreased but, the number of homes sold was higher than April and days on market continue to be incredibly low.

          Let’s check in on the statistics and then review story behind them …

          Real Estate Activity in Alexandria During May 2017

          •Number of Sales: 606 (increase from 477 in April)

          •Highest Priced Sale: $1,842,500

          •Lowest Priced Sale: $105,000

          •Median Sales Price: $455,450 (decrease from $462,000 in April)

          •Median Days on Market: 7 (decrease from 9 in April)

          •Median Sale Price to List Price Ratio: 98.68% (increase from 98.61% in April)

          Alexandria Home Sales May 2016 vs. May 2017
          Comparing May 2016 to this year gives us a good comparison to show the market is very strong this year. In May 2016 there were 579 homes sold, the median sale price is higher this year by $20,000. Days on the market in 2016 came in at 12 and sellers saw a 98.28% sale to list price ratio.

          Bottom Line -
          Alexandria remains a seller’s market. There are currently 1,012 homes for sale in Alexandria. Inventory has decreased since our April 2017 market update. Seller's continue to see very low days on the market and buyers have to be prepared to act quickly when they find the right home. Have your pre-approval ready to go and do not delay in making an offer. Even waiting a day can mean the home you fell in love with is already under contract.

          If you’re considering selling the current market conditions are very favorable. Even though the market is swayed towards sellers right now that doesn’t remove the necessity to properly prepare your home for sale. Homes that are moving quickly have three things in common; they show well, are priced according to the market, and are easy for agents to show to their buyers. Work with a local agent who knows the market and can guide you through each step of your sale. From staging, to pricing, to the timing when you go on the market - every detail matters.

          Not sure where to start your home search? 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.

          Find out how much your Alexandria home is worth

          Browse homes for sale in Alexandria

          Are you a member of the military? Learn more about our Beyond The Call program.

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            Restaurants In The DC Area Serving Thanksgiving Dinner 2017

            Restaurants In The DC Area Serving Thanksgiving Dinner 2017

            Thanksgiving is fast approaching and while many will be waking up early to prepare meals at home there are plenty of options for those of us (raising my hand) who are looking to go out and not put in all the work it takes to pull off a Thanksgiving feast.

             

            Tysons Corner/Mclean

            Seasons 52 – offering a traditional Thanksgiving dinner with all the trimmings.

            Fogo de Chao- offering seasonal recipes exclusive to the holidays. Dinner price applies all day on Thanksgiving.

            Wildfire- enjoy Thanksgiving served family style, featuring Spit Roasted Turkey.

             

            Alexandria/Arlington

            Bastille- offering a 3 course meal for Thanksgiving.

            Fyve at The Ritz Carlton- Thanksgiving inspired cuisine served in the Grand Ballroom with live entertainment.

            Essy’s Carriage House- serving Thanksgiving dinner from noon until 8pm. Turkey with all the trimmings, pumpkin and pecan pies. Salmon or London Broil will be available as alternate entrees.

             

            Downtown

            Bucca de Bepo- open at 11am on Thanksgiving, join them for their sought after pasta dishes.

            Lillies- prix fixe holiday menu; traditional turkey dinner with mashed potatoes, gravy, stuffing, and sweet potatoes await you this Thanksgiving.

            Bistro Bistro- serving a Thanksgiving feast including seasoned turkey, mashed potatoes, pumpkin and apple pies.

             

            Reservations are filling up fast so don’t delay if you want to take the easy route for your Thanksgiving meal!

             

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              What Sold In Alexandria During September 2017?

              What Sold In Alexandria During September 2017?

               

              Real Estate Activity in Alexandria During September 2017

              •Number of Sales: 398 (decrease from 486 in August)

              •Highest Priced Sale: $3,149,900

              •Lowest Priced Sale: $85,000

              •Median Sales Price: $436,750 (decrease from $454,400 in August)

              •Median Days on Market: 21 (increase from 16 in August)

              •Median Sale Price to List Price Ratio: 97.54% (decrease from 97.75% in August)
               

              Alexandria Home Sales September 2016 vs. September 2017
              In September 2016 there were 437 homes sold, the median sale price was higher this September by $21,750. Days on the market in 2016 as compared to this year saw no change – 21 days. Sellers saw a 97.47% sale to list price ratio in 2016. Reviewing the same time period in the previous year gives us data to gauge how the market is performing as compared to the same time period last year. While more homes sold last September the median sale price was substantially higher this year. Days on market and the median sale to list price ratio show consistency for September 2016 and 2017.

              Is Alexandria A Buyer’s Or A Seller’s Market?
              The seller’s market tune continues to play in Alexandria. There are currently 997 homes for sale in Alexandria which is a decrease from this time last month. Seeing sales slow this time of year it very common and not something to be alarmed about. Median days on the market at 21 is still very low and sellers continue to enjoy a strong sale to list price ratio. As a buyer now is a great time to enter the market because while homes still aren’t staying on the market for a long time they are staying on longer than they were in the spring and summer. You can take advantage of the seasonal slower market and low interest rates. The homes that are selling within a matter of days have similar characteristics – they’re priced according to the market, they show well, and they offer convenient showing times for buyer agents to be able to bring their clients for a tour. Marketing and exposure no matter what the market trends are will always be imperative to sell for top dollar in the shortest time possible. In the current market sellers need to be mindful that things have slowed down a bit from spring and summer. Making sure your home is ready to shine the day it hits the market is a must. For some tips on common pricing mistakes to avoid check out this article.

              Find out how much your Alexandria home is worth using our free home value calculator.

              Browse homes for sale in Alexandria

               

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                Alexandria Real Estate Market Update October 2017

                Alexandria Real Estate Market Update – October 2017

                Real Estate Activity in Alexandria October 2017

                •Number of Sales: 425 (increase from 398 in September)

                •Highest Priced Sale: $2,800,000

                •Lowest Priced Sale: $107,000

                •Median Sales Price: $446,200 (increase from $436,750 in September)

                •Median Days on Market: 16 (decrease from 21 in September)

                •Median Sale Price to List Price Ratio: 97.62% (increase from 97.54% in September)

                 

                 

                Alexandria Home Sales October 2016 vs. October 2017
                In October 2016 there were 360 homes sold, the median sale price was higher this October by $6,200. Days on the market in 2016 were 20 so overall not a big variance as compared to this year. Sellers saw a 97.38% sale to list price ratio in 2016. Reviewing the same time period in the previous year gives us data to gauge how the market is performing as compared to the same time period last year. October was a far more active market this year than it was in 2016 but, both sale price and days on market show consistency.

                 

                 

                Is Alexandria A Buyer’s Or A Seller’s Market?
                If you’ve been following our monthly Alexandria market updates you can probably guess…it’s still a seller’s market! There are currently 919 homes for sale in Alexandria which is a decrease from this time last month and also the third month in a row inventory has decreased. Although we saw sales slow in September (not unusual), October turned out to be a strong month for Alexandria real estate sales. Median days on the market decreased and are something to take note of. Slightly over two weeks is extremely low. Sellers also continue to experience strong sale to list price ratios. As a buyer now is a great time be searching for a new home in Alexandria. Homes definitely aren’t staying on the market for a long time but, there also aren’t as many buyers in the market this time of year leading to less competition. The opportunity to take advantage of low interest rates remains. The homes that are selling within a matter of days as always have similar characteristics – they’re priced correctly, they show well, and they offer convenient showing times for buyer agents to be able to bring their clients for a tour. If you’re selling, regardless of what time of year it is making sure your home is ready to deliver a great first impression is important – you only get once chance at a first impression. Make sure it’s a good one! Curb appeal is often something we see overlooked during the fall and winter months, don’t make that mistake. Curb appeal can be achieved year round. Check out The Importance Of Curb Appeal for tips on what to do to make the exterior of your home welcoming to potential buyers.

                Find out how much your Alexandria home is worth using our free home value calculator.

                Browse homes for sale in Alexandria

                 

                 

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                  Condo Sales in Alexandria, Virginia Market Update October 2017

                  Condo Sales in Alexandria, Virginia Market Update October 2017

                  Condo sales in Alexandria slowed in September but, picked back up in October. More condos sold in Alexandria during October and median days on market slightly decreased as compared to September.

                  October 2017 Condo Sales in Alexandria

                  •Number of Sales: 159 (increase from 149 in September)

                  •Highest Priced Sale: $2,050,000

                  •Lowest Priced Sale: $85,000

                  •Median Sales Price: $273,500 (decrease from $277,000 in September)

                  •Median Days on Market: 17 (decrease from 22 in September)

                  •Median Sale to List Price Ratio: 97.62% (decrease from 97.75% in September)

                   

                  How Does October 2016 Compare to October 2017?

                  There were 25 more condos sold this October. The median sale price was higher this year by $1,275 and days on the market were lower this year by 10. The median sale to list price ratio varied just slightly 2016 – 96.70% vs. 2017 – 97.62%.

                   

                   

                  Current Condo Inventory in Alexandria

                  There are 389 condos for sale in Alexandria, a decrease of 62 the same timeframe last month. Low inventory continues to be a trend in Alexandria. Sales slowed in September but, picked back up in October which isn’t unusual to see. While the fall season isn’t as busy as spring and summer it’s important to know the market is still moving at a brisk pace and inventory remains low.

                  Is it a Buyers or a Seller’s Market?

                  The condo market in Alexandria remains a seller’s market. Days on the market continue to be low and as a buyer it’s important to be prepared to make an offer quickly. Fall and winter are traditionally associated with a slow real estate market but, that’s a blanket assumption and real estate is local – hyper local. It’s been a record setting year in the DMV and the real estate market is strong! Seek an agent that can promptly show you homes and who has an understanding of the local market.

                   

                  If you’re considering selling your Alexandria condo the market is in your favor. Low inventory, low days on the market, and strong sale to list price ratios all point to the current seller’s market we’re experiencing. Collaborate with an agent who you trust and who has a proven successful track record. It takes careful attention to detail and proper planning to achieve a top dollar sale. From preparing your condo for sale to professional negotiation, who you hire matters. You only get once chance to make a lasting impression for potential buyers, make sure it’s a good one!

                  Whether you’re buying or selling a condo in Alexandria we stand ready to assist. Contact us to get answers to your questions or to request more information. We look forward to helping you!

                   

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

                   

                  Browse Alexandria Homes For Sale

                   

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                    What Happened In The Alexandria Real Estate Market In November 2017?

                    What Happened In The Alexandria Real Estate Market In November 2017?

                    Real Estate Activity in Alexandria During November 2017

                    •Number of Sales: 428 (increase from 425 in October)

                    •Highest Priced Sale: $2,830,000

                    •Lowest Priced Sale: $93,000

                    •Median Sales Price: $457,125 (increase from $446,200 in October)

                    •Median Days on Market: 18 (increase from 16 in October)

                    •Median Sale Price to List Price Ratio: 97.40% (decrease from 97.62% in October)

                    Alexandria Home Sales November 2016 vs. November 2017
                    In November 2016 there were 386 homes sold, the median sale price was higher this November by $8,625. Days on the market in 2016 were 21 – not much change as compared to this year. Sellers saw a 97.01% sale to list price ratio in 2016. Comparing the market to the same time period in the previous year allows us to see what has changed. In looking at the numbers for November 2016 and 2017 this year the market had more activity and a stronger median sale price. However, days on market and sale to list price ratio remained consistent.

                    Is Alexandria A Buyer’s Or A Seller’s Market?
                    Drum roll please … it remains a seller’s market! With that said there is an important factor to add into this month’s market report. Inventory finally increased a bit in Alexandria which for buyers is excellent news as we very much need more inventory. There are currently 1,130 homes for sale in Alexandria which is an increase from 919 during this time last month. Buyers can’t get too excited because that’s still a low level of inventory but, after seeing inventory decrease for 3 months in a row this a welcome change. It’s a common myth that the winter isn’t a good time to buy or sell a home. That just simply isn’t true. There are still serious buyers in the market right now and with inventory levels remaining low sellers have an opportunity to capitalize. Spring will inevitably see more homes being listed for sale and as a seller that equates to more competition from other sellers. Sales might slow in the winter months but, real estate certainly doesn’t stop. Buyers that are willing to face the cold to house hunt can very often avoid the multiple offer/bidding war situations we see play out in the spring market.

                    Find out how much your Alexandria home is worth using our free home value calculator.

                    Browse homes for sale in Alexandria

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