Wishing all of our clients a very Happy New Year!
Blog :: 12-2016
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.
Condo Sales in Alexandria, VA – Market Update November 2016
Condo sales in Alexandria increased from October to November. Median sales price decreased and days on the market decreased. Median sale to list price ratio saw a slight increase.
Let’s review the numbers…
November 2016 Condo Sales in Alexandria
•Number of Sales: 130 (increase from 121 in October)
•Highest Priced Sale: $1,707,000
•Lowest Priced Sale: $81,500
•Median Sales Price: $270,000 (decrease from $278,000 in October)
•Median Days on Market: 24 (decrease from 28 in October)
•Median Sale to List Price Ratio: 97.00% (increase from 96.67%)
How Does November 2015 compare to November 2016?
There were 29 more condos sold this November as compared to last year. The median sale price was lower last November by $40,000. Days on the market were lower this year by 9 and the median sale to list price ratio remained consistent 2015 – 96.31% vs. 2016– 97.00%.
What Does This Mean For Condo Sales In Alexandria?
Condo sales in Alexandria saw a nice surge during the month of November. The market is strong right now and the comparison to 2015 shows just how active things have been. Many buyers and sellers that were on the fence during the election are entering the market now that it’s over. The condo segment of the Alexandria market remains a seller’s market. There are currently 281 condos for sale in Alexandria. Down from 344 condos at this time last month. From an inventory standpoint the market is leaning towards sellers but, buyers shouldn’t be discouraged as there’s not a shortage to the point that bidding wars are happening all the time. They do happen but, not as frequently as the Spring market. Interest rates have increased but, are still at historic lows and buyers can take advantage of them while they’re still in the low 4% range. Sellers who are concerned about listing during the winter months should really consider going on the market. Not only is it a seller’s market, there are many buyers in the market right now who want to go under contract in order to lock in their rate before they continue to rise. Take advantage to the market conditions leaning in your favor, winter isn’t a bad time to sell and the numbers for Alexandria condo sales show us it’s a very active market right now. Coming soon marketing, the right pricing, and making sure it’s easy for agents to show are all important factors to consider. Work with an agent who has a proven successful track record and the right marketing to set your condo apart from the competition.
If you would like more information on buying or selling a condo in Alexandria or just have questions about the market give us a call. We are here to help.
We are all looking forward to a weekend with family, friends, and loved ones but, we wanted to take time out to thank all of our clients. We are grateful for all of your continued support and thank YOU for enabling us to give back to the community this year. Happy Holidays!
Real Estate Market Update For Alexandria VA – November 2016
Home sales in Alexandria increased from October to November. Median sale price and median days on the market remained consistent. Home sales remain strong as we enter the winter season and we are moving homes very quickly. Let's check in on the statistics and story behind the numbers...
The following is a review of activity in Alexandria during November 2016
•Number of Sales: 379 (increase from 356 in October)
•Highest Priced Sale: $1,915,000
•Lowest Priced Sale: $81,000
•Median Sales Price: $447,000 (decrease from $447,500 in October)
•Median Days on Market: 22 (increase from 21 in October)
•Median Sale Price to List Price Ratio: 97.01% (decrease from 97.38% in October)
Alexandria Home Sales November 2015 vs. November 2016
The market in Alexandria during November 2015 yielded 311 homes sold, quite a bit less than this year but, the median sale price was higher last year by $23,000. Days on the market showed very little change, higher last year by just two days. Sale to list price also remained consistent seeing no change as the same time last year.
Is It A Buyer’s Market or a Seller’s Market?
Alexandria remains a seller’s market. We are receiving questions regularly centered around whether or not winter is a good time to sell and our pulse on the market along with the statistics show that it is. We are moving homes quickly and they all have similar characteristics – they show well and are priced correctly. There are many serious buyers actively looking for their next home in Alexandria. With the threat of rising interest rates we’ve seen an increase in the amount of active buyers as compared to last year. It’s important to remember that properly preparing your home for sale, pricing it correctly, and ensuring it’s easy for agents to show are all part of a successful sale. Selecting a local agent that can help you with each step of the sale who is experienced in your area is the key to achieving top dollar in the shortest time possible.
Buyers, although the current market conditions show Alexandria is still a seller’s market it’s not a bad time to be seeking your next property. Interest rates have crept up a bit however, are still very low and are predicted to continue to increase. Locating your dream home now and locking your interest rate in now will ensure you are able to maximize your buying power.
If you’d like to learn more about the Alexandria real estate market contact us. We’d be happy to answer your questions and discuss market conditions. We have programs and systems in place to create accountability and guarantees for our service. Ask us about our Love It or Leave It guaranteed and our Guaranteed Sale Program.
5 Tips for Organizing Your Garage
Many of us have a garage but, don’t use it to store our car in. The reason? Too much stuff! Garages often end up neglected messy spaces that accumulate a plethora of items over time. Organizing your garage will not only make it look better it will also enable you to get a lot more use out of it.
Ceiling Storage – for less than $100 in materials this is an easy DIY project that will make better use of your garages space. Store items in ceiling storage that you don’t use regularly such as holiday decorations. If you'll be storing heavy items be sure to secure the storage system into the studs.
Wall Storage – from garden tools to a ladder there is so much you can store when you have the ability to hang it on the wall. Magnetic wall strips are also a great idea to secure tools with. The best part is you can customize the wall storage to fit your needs.
Install a Workbench- a workbench creates an easy space to work on projects and still keep the garage looking neat and tidy. Short on space? Consider a work bench that can fold up against the wall when you’re not using it.
Bike Storage- if you’re constantly shifting the bikes around or worse hitting them with your car door consider creating vertical bike storage. You can also buy hooks (very inexpensive) and hang the bikes from the ceiling. Just make sure the hooks are secure!
Screw / Nail Storage – we’ve all had loose screws and nails rolling around the garage. Save those old gum containers (think Orbit White style containers) and label them for the different nails or screws you have.
Garages are great for many types of storage and with the right systems in place can also be organized and visually appealing. Maximize your space, including the garage to enjoy every asset your home has to offer.
The holidays bring good times with family and loved ones, delicious food, and time to relax and recharge for 2017. It’s a wonderful time of year! It’s also a time of year that we need to make sure we’re mindful of safety items so that we keep ourselves and our homes safe. Check out these safety tips!