Condo Sales in Alexandria, VA – Market Update November 2015
The number of condos sold in Alexandria decreased in November. Less sales in the winter months are common and not something to be concerned about in regard to the overall health of the market in Alexandria. Median sale price remains steady with a small increase in November and days on the market are still low. Let’s check in on the stats for November.
November 2015 Condo Sales in Alexandria
•Number of Sales: 99 (decrease from 129 in October)
•Highest Priced Sale: $910,000
•Lowest Priced Sale: $91,500
•Median Sales Price: $287,330 (increase from $284,650)
•Median Days on Market: 33 (increase from 28)
•Median Sale to List Price Ratio: 96.29% (decrease from 96.63%)
How Does November 2014 compare to November 2015?
There were 13 more condos sold last November than this year and the median sale price was higher this November by $3,551. Days on the market showed no change. Median sale to list price ratio also remained consistent 2014 – 95.77% vs. 2015 – 96.29%.
What Does This Mean For Condo Sales In Alexandria?
The condo market in Alexandria is currently a stable market. With interest rates remaining low and an increase in inventory now is a great time to purchase a condo in Alexandria. Even though we are approaching winter there’s good news for sellers too. Days on the market are still reasonably low and the sale to list price ratio continues to be strong. More inventory means more options for buyers to pick from and in turn it means that sellers need to focus on properly preparing their condo for sale and pricing it according to the market is a must. Hire the right agent that knows your neighborhood and who can help you with your every step of your sale. Condos that are going under contract quickly and selling for the highest price show well, are properly priced according to the market, and are easy for agents to show to their buyers. Putting the time and effort into getting your condo ready for sale will pay off when you become an active listing.
Buyers: To browse homes for sale in Alexandria please visit the link. If you see a property that interests you contact me so that we can get you in for a preview.
Sellers: I am experienced in the Alexandria Real Estate market and can help you go from listed to sold very quickly. I would love to show you how my marketing can get your home sold and welcome the opportunity to earn your trust and business.