Blog :: 07-2016

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.

Real Estate Market Update For Alexandria VA June 2016

Real Estate Market Update For Alexandria VA – June 2016
Alexandria home sales experienced another increase in sales from May to June. Days on the market remained consistent, decreasing by just one day and sellers continue to enjoy a high sale to list price ratio.

Let’s check in …

The following is a review of activity in Alexandria during June 2016
•Number of Sales: 595 (increase from 571 in May)
•Highest Priced Sale: $1,750,000
•Lowest Priced Sale: $95,000
•Median Sales Price: $499,450 (increase from $490,000 in May)
•Median Days on Market: 11 (decrease from 12 in May)
•Median Sale Price to List Price Ratio: 98.20% (increase from 97.98% in May)

Alexandria Home Sales June 2015 vs. June 2016
The market is very similar as compared to the same time period last year. There were 582 homes sold in June 2015 and the median sale price was higher this year by $20,550. The median sale to list price ratio remained consistent, 97.72% in 2015 vs. 98.20% in 2016. Median days on the market also remained consistent, 14 in June 2015 and 11 in June 2016.

Is It A Buyer’s Market or a Seller’s Market?
The Alexandria real estate market remains a seller’s market. With that said sellers still need to properly prepare their home for sale. Hiring a local agent who can help you get your home ready for the market is key. From de-cluttering, staging, pricing, marketing, and everything in between the right agent can guide you every step of the way. While the market is leaning towards sellers it's not all bad news for buyers. Inventory isn't depleted to the point that every property is seeing multiple offers and interest rates remain low. Buyers do need to be prepared to act quickly in the current market as homes are not staying on the active for long. When the market is moving quickly lack of preparation can mean the home you fall in love with today is already under contract tomorrow.

Buyers: To see homes currently for sale in Alexandria please visit the link. Ready to start your home search? We are always available to answer questions and stand ready to assist. 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: It remains a great time to list your home for sale in Alexandria. We would love to learn more about your selling goals and setup the right marketing plan to 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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    Condo Sales in Alexandria, VA Market Update June 2016

    Condo Sales in Alexandria, VA – Market Update June 2016

    Condo sales in Alexandria saw a slight decrease in the number of properties sold from May to June. The median sale price also decreased while days on the market remained virtually the same along with median sale to list price ratio.

    Let’s check in….

    June 2016 Condo Sales in Alexandria

    •Number of Sales: 196 (decrease from 201 in May)

    •Highest Priced Sale: $1,150,000

    •Lowest Priced Sale: $95,000

    •Median Sales Price: $260,000 (decrease from $295,000)

    •Median Days on Market: 19 (decrease from 20)

    •Median Sale to List Price Ratio: 97.02% (decrease from 97.06%)

    How Does June 2015 compare to June 2016?
    There were 12 more condos sold this June than last year. The median sale price was higher last June by $20,680. Days on the market remained consistent 21 in 2015 and 19 in 2016. The median sale to list price ratio also remained consistent 2015 – 97.00% vs. 2016 – 97.02%.

    What Does This Mean For Condo Sales In Alexandria?
    The numbers don’t tell the entire story for June condo sales in Alexandria. 9 distressed sales (short sales or bank owned homes) closed in the month of June and in turn impacted the median sale price. Without the distressed sales factored in the median sale price decreased by $5,000 as compared to May. It remains a seller’s market with less than 3 months of available inventory. Buyers continue to take advantage of low interest rates. Getting pre-approved and hiring an agent that has full time availability to be flexible with touring is a must as many condos are moving quickly. Sellers need to keep in mind that while the market is busy and there are lots of buyers actively seeking a condo in Alexandria the necessity to properly prepare your Alexandria condo for sale remains imperative. Condos that are receiving multiple offers and going under contract quickly all have similar characteristics. They show well, are priced according to the market, and are easy for agents to schedule a tour for their buyers.

    If you would like more information on condos in Alexandria we are always available for questions. We are well versed in the Alexandria real estate market and stand ready to assist buyers and sellers.

    Buyers: To browse homes for sale in Alexandria please visit the link. If you see a property that interests you contact us to find out how to start your home search. We can guide you through each step of your home purchase.

    Sellers: We are experienced in the Alexandria Real Estate market and welcome the opportunity to learn about your home. Contact us to setup up an in home consultation to discuss preparing your condo for sale and marketing strategies.


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