Homes Sold in Alexandria Virginia – September 2016
Alexandria home sales saw a decrease in the number of homes sold from August to September. Median sale price and days on the market decreased while sale to list price ratio remained almost unchanged.
Let’s check in …
The following is a review of activity in Alexandria during September 2016
•Number of Sales: 432 (decrease from 499 in August)
•Highest Priced Sale: $4,685,000
•Lowest Priced Sale: $80,000
•Median Sales Price: $463,470 (decrease from $483,495 in August)
•Median Days on Market: 21 (decrease from 24 in August)
•Median Sale Price to List Price Ratio: 97.47% (increase from 97.29% in August)
Alexandria Home Sales September 2015 vs. September 2016
The September market in Alexandria in 2016 was very similar to 2015 with the exception of median sale price which was lower this year. In September 2015 there were 427 homes sold. The median sale price was lower this year by slightly over $14,000. The median sale to list price ratio remained consistent, 97.15% in 2015 vs. 97.47% in 2016. Median days on the market saw very little change, 23 in September 2015 and 21 in September 2016.
Is It A Buyer's Market or a Seller's Market?
The Alexandria real estate market remains a seller’s market with the absorption rate remaining unchanged from August at just about 2 months. We continue to receiving inquiries from sellers who are interested in whether or not fall is a good time to sell their home. In our professional opinion fall is a great time to list. There are many buyers actively looking for their next home. Whether they’re new to the market or never found the right home over the summer, they’re looking daily for their next house. Competition from other sellers has decreased since the spring and summer markets which is always good when considering listing your home for sale now. Proper preparation before hitting the market remains imperative. Contact our team of listing specialists to setup a no obligation consultation. We have systems and a support staff in place to deliver a smooth and successful sale to each of our sellers.
Buyers, there's good news for you as well. Interest rates remain low and while there's speculation they'll increase in the future you still have plenty of time to locate and close on the home of your dreams this year. While inventory isn't plentiful it's also not depleted which gives you the advantage of being able to have enough houses to choose from until you find the one you want to call HOME. Whether you're ready to start touring or not sure where to being we can help. Reach out to us to talk with one of our buyer specialists today and put our local expertise to work. Our Love It or Leave It Guarantee provides peace of mind that if you don't absolutely love your home within the first 12 months of living there we'll sell it for free and find you a new one!