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.