Condo Sales in Alexandria, VA – Market Update April 2017
April 2017 Condo Sales in Alexandria
•Number of Sales: 188 (decrease from 170 in March)
•Highest Priced Sale: $4,272,017
•Lowest Priced Sale: $87,000
•Median Sales Price: $285,509 (decrease from $265,426 in March)
•Median Days on Market: 13 (no change from March)
•Median Sale to List Price Ratio: 97.93% (increase from 97.68% in March)
How Does April 2016 compare to April 2017?
Comparing the same time period last year gives us the opportunity to dig a bit deeper into the current market trends and what they mean. There were 9 more condos sold this April as compared to last year. The median sale price was higher this year by $27,134. Days on the market showed now change and the median sale to list price ratio was just a bit stronger this year 2016 – 97.82% vs. 2017 – 97.93%. All signs that we're in a strong sellers market.
What Does This Mean For Condo Sales In Alexandria?
There are currently 364 condos for sale, an increase from 296 at this time last month. Inventory is still low but, isn’t as tight as it was last month which is good news for buyers. With that said, the Alexandria condo market remains a seller’s market. If you’ve been considering listing your condo for sale the current market conditions make it a great time to do so. Preparing your home for sale takes time and planning for proper execution. Consult with an agent you trust and who has a proven successful track record. All the details matter – from repairs to a deep cleaning, properly presenting your home for sale is imperative to achieve top dollar in the shortest amount of time possible. Pricing remains a key factor for a successful sale, rely on your agent to review market data with you and determine a price that represents the current fair market value for your home.
If you’re a buyer in the market for a condo in Alexandria be prepared to act quickly when you find the property you want to make home. Days on the market remain very low and you’ll want your pre-approval in hand before you start touring. Delaying on being able to make an offer can mean a condo is already under contract. Work with an agent that has full time availability and who can coordinate well with your schedule to tour homes promptly.
Contact us, we are always happy to answer your questions and welcome the opportunity to help with your sale or purchase.