Real Estate Market Update For Alexandria VA – October 2015
Quick Facts on Alexandria's Current Market:
Alexandria home sales experienced a decrease in the number of homes sold as compared to September. Days on the market remained essentially the same and median sale price slightly increased. All are very standard statistics for this time of year.
Activity in Alexandria during October 2015.
•Number of Sales: 366 (decrease from 424 in August)
•Highest Priced Sale: $2,100,000
•Lowest Priced Sale: $95,000
•Median Sales Price: $444,450 (increase from $434,725 in September)
•Median Days on Market: 22 (decrease from 22 in September)
•Median Sale Price to List Price Ratio: 97.19% (increase from 97.16% in September)
How Does October 2014 compare to October 2015?
Let’s check in on the same time period in 2014. There were 394 homes sold in October 2014 and the median sale price was lower in 2014 by $14,950. The median sale to list price ratio remained consistent as well 96.86% in 2014 vs. 97.19% in 2015. The days on the market also remained essentially the same - 21 in 2014 vs. 22 in 2015.
Is It A Buyer’s Market or a Seller’s Market?
For the third month is a row it’s neither – it’s a stable market in Alexandria and that’s good news for buyers and sellers. It’s very close to a seller’s market based on October’s stats which still makes it a good time to list and buyers are enjoying more inventory than what was available in the Spring and Summer. Median sale price has seen a controlled and steady increase in Alexandria as compared to last year and with the thought of interest rates possibly creeping up in December it’s a great time for buyers to start their home search. Sellers that properly prepare their home for sale are still going under contract quickly and even though winter is approaching that doesn’t mean it’s a bad time to sell. Less competition from other homes for sale is a great opportunity for your home to stand out and attract the right buyer. Hire a local agent that can guide you through each step of your home sale. The details that go into successfully selling a home are plentiful and you need an expert working on your behalf.
Buyers: To see homes for sale in Alexandria please visit the link. I am always available to answer questions about your home search and welcome the opportunity to work for you.
Sellers: Although inventory has increased in Alexandria it is still a good time to sell and the market remains stable. Contact me for a free evaluation of the current value of your home or to discuss the current market conditions in your neighborhood. I offer a guaranteed sale program and welcome the opportunity to learn more about your home.