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Condo Sales in Alexandria, VA Market Update June 2017

Condo Sales in Alexandria, VA – Market Update June 2017

June 2017 Condo Sales in Alexandria

•Number of Sales: 216 (decrease from 218 in May)

•Highest Priced Sale: $1,599,000

•Lowest Priced Sale: $100,000

•Median Sales Price: $269,875 (decrease from $280,500 in June)

•Median Days on Market: 13 (increase from 11 in May)

•Median Sale to List Price Ratio: 97.77% (decrease from 98.07% in May)

How Does June 2016 Compare to June 2017?

There were 15 more condos sold this June as compared to last year. The median sale price was higher this year by $9,875 and days on the market were lower this year by 6. The median sale to list price ratio was just a bit stronger this year 2016 – 97.00% vs. 2017 – 97.77%.

Is It A Buyers or a Seller’s Market?

There are currently 336 condos for sale and the absorption rate is 2.06 months. These statistics tell us that the condo market in Alexandria remains a seller’s market. Hypothetically if no new listings came on in slightly over two months there would be no condos for sale in Alexandria. This is great news if you’re a seller. If you’re a buyer it tells us that you need to be prepared to act quickly when you find a condo you want to make an offer on. Have your pre-approval in hand and work with an agent that can coordinate with your schedule in order to tour condos in a timely manner. Waiting days to see a new listing can mean it’s already under contract.

Contact us to start your home search or to ask us any questions you have. We look forward to helping you.

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