Blog :: 05-2018

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.

How Did Home Sales Perform in Alexandria in April 2018?

How Did Home Sales Perform in Alexandria in April 2018?
Home sales in Alexandria remained strong in April. The number of homes sold increased from March along with an increase in median sale price. Days on the market decreased and are extremely low. Sellers continue to have the market in their favor and are seeing over 99% for the sale to list price ratio.

 

 

Here are the stats for April 2018 in Alexandria…

•Number of Sales: 531 (increase from 478 in March)

•Highest Priced Sale: $2,000,000

•Lowest Priced Sale: $87,000

•Median Sale Price: $503,200 (increase from $479,975 in March)

•Median Days on Market: 7 (decrease from 11 in March)

•Median Sale Price to List Price Ratio: 99.10% (increase from 98.48% in March)
 

To gain some perspective let’s go back and compare to April 2017…

•Number of Sales: 457

•Highest Priced Sale: $4,272,017

•Lowest Priced Sale: $87,000

•Median Sale Price: $462,000

•Median Days on Market: 9

•Median Sale Price to List Price Ratio: 98.61%

 

 

Reviewing the same timeframe in the previous year allows us to analyze how the market has changed.  Median sale price is up by 8.9% as compared to April 2017 and the number of homes sold also saw an increase this year. Days on the market remained fairly consistent changing by just 2 days.

 


 

Active Listings in Alexandria
As of 
today, there are 883 homes for sale in Alexandria. An increase from 796 at this time last month. The slight increase in inventory is good news for buyers. Supply certainly isn’t keeping up with demand but, any increase is a welcome one in the current market conditions. The lowest priced property is a 1 bedroom, 1 bath condo with 720 square feet listed at $135,900 and the highest is a 6 bedroom, 4.5 bath single family home with 8,145 square feet listed at $8,500,000. Current active listings in Alexandria have an average of 31 days on the market, a decrease of 7 days as compared to last month.

 


 

Pending Sales in Alexandria
There are currently 867 homes under contract. Median days on the market for the pending homes is 9.

 

View homes for sale in Alexandria
 

The housing market in Alexandria remains a seller’s market. Low inventory and rising home prices are contributing factors to the current trends we’re experiencing. If you’re considering selling your Alexandria home keep in mind that while the market is trending in your favor that doesn’t mean proper preparation for the market isn’t needed. Buyers know the competition is steep and in turn, they are looking for a product that is turn-key and priced correctly. Overlooking the need to deliver a product to the market that buyers are seeking will inevitably impact a seller’s bottom line. Making the best first impression when listing your home is critical for a successful sale. It’s not just about selling, it’s about selling for the highest price in the shortest amount of time. Be the home that sets a record high selling price for the neighborhood, not the home that sits and becomes stale inventory. Buyers don’t pay top dollar for a home that’s been sitting on the market. As a seller in the current market, you have a very small window to maximize your equity due to how low the median days on the market are.
 


Homes that sell quickly in Alexandria all have similar characteristics: they are clean and well maintained, reasonably updated, uncluttered, and they are priced according to the current market. As a seller, when you meet these conditions your home will not only stand out from the competition it will also have the best opportunity to sell for top dollar.
 


Buyers have to be prepared to act quickly in the current market. Having a pre-approval in hand and working with an agent who has the flexibility to show a home that’s new to the market on short notice is a must. Days on the market continue to be extremely low and that leads to buyers needing to make a decision quickly if they want to make an offer on a property. In general, the current market is not conducive to negotiating power for buyers. Be prepared to make your highest and best offer upfront, it’s the smallest details that are making one buyer stand out from the next.
 


Reach out to Amanda at 703-431-3755 or email amanda@amandadavidson.com to talk about the marketability of your home. Market reports do an excellent job of providing general information but, nothing replaces a comprehensive market analysis from an agent who understands the intricacies of the Alexandria real estate market. Every home and its features influence where it should be priced. Achieving the maximum dollar for your home regardless of the current market conditions is always my goal. You need a full-service agent who has a successful track record not only selling homes but, selling them for top dollar!

 

 

Memorial Day | Remember and Honor

Memorial Day | Remember and Honor

Memorial Day is a day we remember with gratitude, all those that served and gave their lives for our country and our freedom. All too often I only hear about the BBQ’s and time off from work but, if it weren’t for the heroes who loved their country enough to die for it none of that would be possible. Thank you to those who have given their lives to give each one of use freedom. I am forever grateful.
 


Wishing everyone a safe Memorial Day – please remember to participate in the National Moment of Remembrance at 3pm.

 

6515 Old Carriage Way Alexandria, Virginia 22315 | End Unit Townhome in Landsdowne Under Contract

6515 Old Carriage Way Alexandria, Virginia 22315 | End Unit Townhome in Landsdowne Under Contract

6515 Old Carriage Way Alexandria, VA 22315
Immaculate townhome located in the sought after Landsdowne neighborhood!

 


This exceptional end unit townhome was on the market just 5 days and received multiple offers. Inspections and the appraisal are completed and all a parties are working towards an end of month closing. 6515 Old Carriage Way is filled with natural light and loaded with upgrades. This 2 bedroom, 1.5 bath home has modern finishes throughout and is immaculate. Lansdowne, a sought after neighborhood in Alexandria is within walking distance from Wegmans and Hilltop Village Center and minutes to metro, 495, 395, and Fort Belvoir.
 


View the walk through tour of this beautiful townhome.
 


The updated and modern kitchen features custom cabinets, granite countertops, gas cooking, butcher block, and pot rack. Hardwood floors gleam throughout the main level. Step into the large fully fenced backyard and enjoy a custom patio, storage shed, and garden beds. On the upper level, you’ll find two spacious bedrooms with vaulted ceilings and a Jack and Jill full bathroom. The bathroom has been completely updated featuring Carrera marble and dual vanities.
 


Landsdowne is the definition of location, location, location. Walk to shopping, dining, and everyday needs. Residents in the neighborhood enjoy use of an outdoor pool, walking trails, and sports courts.
 


Looking to sell your Landsdowne home? We’d love to help you achieve similar results. Reach out to us with questions or to learn more about our marketing.
 


Browse homes for sale in Landsdowne

 

Under Contract in Belle View Alexandria Virginia 22307

Under Contract in Belle View Alexandria Virginia 22307

1601 Belle View Blvd #B2 Alexandria, Virginia 22307
 


This turnkey ready condo in sought after Belle View is now under contract. 1601 Belle View Blvd #B2 has 2 bedrooms, 1 full bath and 793 square feet of living space.
 


The condo is filled with natural light and ideally situated in the community facing the courtyard. The kitchen has been remodeled and features custom cabinets, granite countertops, and a breakfast bar that overlooks the dining room to create a welcoming open floor plan.
 


Relax in the spacious living room.
 


Two spacious bedrooms with ample closet space.
 


Hall full bath with new flooring.
 


Refinished parquet floors throughout the condo.
 


Belleview is known for its charm and exceptional location. Take a two-minute walk to popular Belleview Shopping Center.
 


When the weather warms up the community pool will be open and 1601 Belle View Blvd #B2 is just steps away. There are laundry facilities in the building and this condo sells with extra storage.

 

COMING SOON in Hayfield Farm | Alexandria, Virginia 22315

7639 Kingsbury Road Alexandria, VA 22315
Spotless home located in the sought after Hayfield Farm neighborhood!
 


7639 Kingsbury Road has been lovingly maintained and exceptionally updated. Enjoy 5 bedrooms, 3 full baths, and a .25 acre lot with a fully fenced backyard - all in the sought after Hayfield Farm neighborhood!

As you enter this outstanding home you’re greeted with hardwood floors throughout. The spacious eat-in kitchen sparkles with granite countertops, stainless steel appliances, and custom cabinets. The kitchen is filled with natural light from the sliding glass doors leading to the patio and large backyard. Grow your own produce and herbs in the custom organic garden beds.
 


Relax in the living room with a wood burning fireplace or entertain family and friends in the separate dining room. There is a bedroom and full bath with Silver Shadow marble and heated floors on the main level. The main level also features a multi-purpose room, make it an office, home gym, bedroom, or whatever your heart desires. A large space and French doors make it very versatile.
 


View the tour of this beautiful home.



On the upper level of 7639 KingsburyRoad, you’ll find 4 bedrooms. The large master bedroom offers ample closet space and an attached master bath with Carrara marble. The additional 3 bedrooms are generously sized and have plenty of storage. The hall full bath also features Carrara marble. No detail has been spared in this stunning and inviting home.
 


As you enter the basement a large rec room awaits you complete with a wet bar with granite counters and an additional refrigerator. The basement is also home to a large storage room and a front loading Samsung washer and dryer.
 


We think you’re going to love calling this immaculate Hayfield Farm, HOME! Give us a call 703-988-1711 to set up your tour when this home comes on the market.

 

 

Alexandria Condo Market Update April 2018

Alexandria Condo Market Update April 2018

The numbers are in for condo sales in Alexandria for April 2018. Find out what sold, how long condos are staying on the market, and how much sellers are having to negotiate. 
 

 

April 2018 Condo Sales in Alexandria

•Number of Sales: 173 (decrease from 181 in March)

•Highest Priced Sale: $1,975,000

•Lowest Priced Sale: $87,000

•Median Sales Price: $263,000 (increase from $255,000 in March)

•Median Days on Market: 9 (decrease from 13 in March)

•Median Sale to List Price Ratio: 98.54% (increase from 97.59% in March)


How Does April 2017 Compare to April 2018?
The number of condos sold saw very little change, higher last year by 16 units. Median sale price decreased this year by $19,000. Days on the market were higher last year by 4 days which is a minimal change and the median sale to list price ratio remained consistent 2017 – 98.54% vs. 2018 – 97.78%.

 


Current Condo Inventory in Alexandria
There are 280 condos for sale in Alexandria, a slight increase from this time last month by 42 condos. There continues to be low inventory in Alexandria. The condo segment of the Alexandria real estate market remains a seller’s market. Homes that are selling quickly in Alexandria have similar characteristics – they are reasonably updated, they show well, and they are convenient for buyer agents to bring their clients for a tour. Pricing is and always will be a key detail to selling a home quickly for top dollar. If you’re considering selling now is an excellent time to do so. With that said, it does not mean you can overprice your home. Supply isn’t keeping up with demand but, that doesn’t mean buyers won’t spot an overpriced home and eliminate it from their search. Planning ahead and teaming up with a local real estate agent that’s an expert in your area to properly execute a successful sale remains imperative. The details of preparing your home for sale, properly pricing it, and launching the right marketing plan will take you from listed to sold in the shortest time possible for the highest sale price possible.
 


If you’re buying a home the current market conditions show you need to be prepared to act quickly. Days on the market continue to be very low and condos that are properly priced and show well move promptly. Get pre-approved and team up with an agent that’s a local expert in Alexandria. Being able to both tour homes and make offers quickly will set the stage for a successful home purchase.


 

To receive a free estimate of what your condo is worth in the current market visit our free home value tool.

If you’re buying or selling a condo in Alexandria and have questions reach out to us and let’s connect. We welcome the opportunity to answer your questions and learn about your real estate goals.
 

Browse Alexandria Homes For Sale

 

You Passed Your Real Estate Exam – Now What? Part II

You Passed Your Real Estate Exam – Now What? Part II

Last week we went over what first steps you should pursue after passing your real estate exam. For Part II of the series let’s assume you’ve selected a broker that has the values and culture you’re looking for, have a mentor, and that you’ve fine-tuned your budget. What’s next?
 


Real estate is not as easy as it looks. Making it through the exam to get your license is the easiest part. The next questions to ask yourself are how are you going to get clients and what type of client do you want to attract? It’s important to note that this is a two-part question. Take time to sit down and really think about who you are and what you want your brand to be. Do not be a jack of all trades and master of none. You can’t be everything to everyone and that means deciding on what type of client you want to market too. Maybe it’s military clients, relocation, or first-time buyers. Maybe you have a specific neighborhood you want to focus on. There are a lot of directions this can go in and that’s why it’s important to first look at yourself to then determine your branding.
 


Once you’ve determined your brand and who it targets you’ll need to create marketing material. Business cards being the first piece. Yes, they’re basic in terms of marketing avenues but, as a new agent, you’re going to want to hand one out to everyone you meet and be reaching out to your sphere to share that you’re now in real estate. Whatever you do, do not be a secret agent. Review your budget to determine how much you can spend on marketing material and then let that amount guide you on what pieces to create. Maybe you don’t have a lot of money to start out, you can easily create a market snapshot of a neighborhood you want to focus on and take that with you to go door knock. Maybe door knocking isn’t your thing. You could plan a mixer for your sphere, have it in your home to keep costs down and serve appetizers and refreshments. Again, the marketing goes back to knowing who you are, what your strengths are, and what clients you want to attract.
 


While you’re working on developing your marketing you’ll also need to be studying the market. Know what the latest trends are, what inventory levels look like, and learn the different neighborhoods in the area you want to serve. Studying the market is something you need to do for your entire real estate career. Become a walking talking local real estate encyclopedia. This prepares you to be able to share the market trends with anyone you come in contact with. You’re going to get the “how’s the market” question a lot. Be prepared to standout by knowing the figures and trends off the top of your head.
 


Last but, certainly not least remember that you are running your own business. Flexibility is touted over and over again but, the reality is it’s not as flexible as you might have been told. You will not be successful if you don’t commit to running your business. No one is going to tell you what to do every day or even tell you to show up. You get out what you put in and if you aren’t giving it your all day in and day out you’re going to struggle. Real estate is non-stop and it requires giving everything you have to become successful. You might not have the experience yet but, you can always be the hardest working person in the room!

 

 

5500 Holmes Run Parkway #1201 Alexandria, Va 22304 | Place One Condo Sold

5500 Holmes Run Parkway #1201 Alexandria, Va 22304 | Place One Condo Sold

5500 Holmes Run Parkway #1201 Alexandria, Va 22304


On the market just 6 days and receiving multiple offers this Place One Condo is now sold and closed. My seller was a referral from past clients and was an absolute pleasure to work with. I am sad she is leaving the area but, excited for her to be able to start her new chapter.

5500 Holmes Run Parkway #1201 is located minutes from metro, 495, and 395 it’s in a convenient location for commuting and daily needs. Offering 850 square feet of living space and city views from the 12th floor.


This Alexandria condo features 1 bedroom, 1 full bath, and 1 half bath. You’ll love the spacious master bedroom with a walk-in closet and attached updated master bath.
 


Place One is an amenity-rich community with secure entry, 24-hour security, front desk attendant, outdoor pool, tennis court, sauna, exercise room, dog park, and garage parking. This condo sells with an extra storage unit. Enjoy the best of both worlds with low maintenance living and a convenient location.
 


If you are considering buying or selling at Place One connect with us. We will guide you through a successful real estate transaction and look forward to learning about your goals. 703-988-3151 or amanda@amandadavidson.com

 

 

Kingstowne Home Sales April 2018 Market Update

Kingstowne Home Sales April 2018 Market Update
Home sales in Kingstowne show no signs of slowing down. April brought an increase in the number of homes sold along with an increase in median sale price.

 


Let’s check in on what happened in the Kingstowne market during April 2018.

•Number of Sales: 59
•Highest Priced Sale: $805,000
•Lowest Priced Sale: $290,000
•Median Sales Price: $494,150
•Median Days on Market: 6
•Median Sale Price to List Price Ratio: 99.14%


To gain some perspective let’s go back and compare to April 2017
•Number of Sales: 30
•Highest Priced Sale: $795,000
•Lowest Priced Sale: $224,348
•Median Sale Price: $469,225
•Median Days on Market: 6
•Median Sale Price to List Price Ratio: 99.27%


The seller’s market in Kingstowne continues. Median sale priced inched up a bit more and days on the market remain historically low. Sellers are in the driver’s seat in most cases when it comes to negotiations – 99.14% sale to list price ratio shows just how little sellers are currently having to negotiate.
 

There are currently 56 homes for sale in Kingstowne. Inventory decreased from the same time frame last month and supply continues to fail to keep up with demand. Buyers are waiting for homes to come on the market. Homes that are properly priced and reasonably updated are going under contract in days, sometimes in hours. As a buyer, in order to be successful in the current market conditions you need to have your pre-approval in hand, be available to tour homes the day they come on the market, and present an offer with short contingency deadlines and your highest and best terms upfront. Working with an agent who has full-time availability and a constant pulse on the market is imperative.

View homes for sale in Kingstowne.
 


It’s an ideal time to list and sell in Kingstowne. With the right marketing and proper execution, sellers are seeing multiple offers and very favorable terms. With that said, even though it’s a seller’s market that doesn’t mean buyers don’t spot a home that’s overpriced. Correct pricing is and always will be imperative to a successful sale. Connect with an agent that’s a local expert who can guide you on staging, preparation for the market, pricing, and advertising.
 

If you’d like to know more about the Kingstowne real estate market or have questions reach out to us. We’d love to connect with you!
 


Find out the value of your Kingstowne home – free estimate. Our home value tool is just a guide, if you are looking for an accurate analysis on the current value of your home nothing replaces the expertise of a local agent with years of experience selling homes.
 

Kingstowne Housing Market Update March 2018

 

 

 

You Passed Your Real Estate Exam - Now What? Part I

You Passed Your Real Estate Exam … Now What? Part I

This might be a question you asked yourself when you first got into real estate and it’s definitely one new or soon to be new agents as me a lot. Real estate is unique in that studying for your real estate exam and then passing it teaches you nothing about actually running your real estate business. It teaches you enough to stay out of trouble and obey the laws but, beyond that you’re going to walk out feeling great that you passed your exam and feeling uncertain about what’s next.
 


If you haven’t already you’ll want to start interviewing brokers. Many of us, myself included just signed on with the first broker that we talked too and that’s a mistake. Meet with different brokers – by different I mean big, medium, and small officers along with companies that have different business models. A broker is an agent who has years of experience and has taken additional courses and tests to verify that experience. There’s a laundry list of different commission models available but, as a new agent don’t focus on the commission. It won’t matter if you never learn how to get a client. Focus on a broker and an office that can mentor you and teach you how to not only obtain clients but, how to properly service them and build your business. Ask questions about the office culture, mentoring, education, fees, and availability for support.
 


Brand name real estate brokerages may or may not be the route to go. There’s no right or wrong answer to this as each office varies. That’s why it’s important to meet with the broker and see if you connect with them. I’ve been with multiple big-name brokerages and never found it meant anything to my clients, they followed me wherever I went. What matters is how you treat your clients, treat them right and your name will spread. New agents need to focus on joining an office where there's access to the broker or a mentor when questions arise. As a new agent, you’re going to have a ton of questions, you’re swimming in the sea of unknowns and having someone you can always rely on to train and mentor you is priceless.
 


Another first step is to create a budget. You’re running your own business now and that requires a budget and a business plan. Your commission split is just one piece of the financial puzzle. You’ll have expenses to join your local association, MLS, E+O insurance, and lockbox access. That’s just the tip of the iceberg. I recommend a new agent have at least 6 months of reserves. Real estate isn’t a job you get paid to show up for. In most cases, you won’t earn a paycheck until you close your first deal and in the meantime, you’ll be spending money on building your business in addition to your personal expenses. Having financial software such as Quickbooks is beneficial to create a budget and track expenses but, you can also create a spreadsheet to save on costs.
 


Stay tuned for part II of You Just Passed Your Real Estate Exam…Now What? We’ll be diving into what you need to do to start attracting clients.