Real Estate Market Update For Alexandria VA – November 2015
Alexandria home sales experienced a decrease in the number of homes sold as compared to October. Days on the market showed very little change, an increase of just 2 days and median sale price increased by $24,550.
The following is a review of activity in Alexandria during November 2015.
•Number of Sales: 309 (decrease from 366 in October)
•Highest Priced Sale: $3,450,000
•Lowest Priced Sale: $91,500
•Median Sales Price: $469,000 (increase from $444,450 in October)
•Median Days on Market: 24 (increase from 22 in October)
•Median Sale Price to List Price Ratio: 97.00% (decrease from 97.19% in October)
Let’s check in on the same time period in 2014. There were 280 homes sold in November 2014 and the median sale price was lower in 2014 by $61,350. The median sale to list price ratio remained consistent as well 96.50% in 2014 vs. 97.00% in 2015. The days on the market also remained the same – 24 in both 2014 and 2015.
Is It A Buyer’s Market or a Seller’s Market?
The market shifted in November from a stable market back to a seller’s market. Buyers do have more inventory to choose from than they did over the summer and that’s a plus because it means there are less multiple offer situations occurring. Seller’s need to be mindful that while it’s a seller’s market with there being more inventory than there was this summer your home needs to shine from the day it hits the market in order to attract the most buyers in the shortest time possible. Hire a local agent that can guide you through each step of a home sale. The details that go into successfully selling a home are plentiful and you need experience and expertise 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: Now is an excellent time to sell in Alexandria. Contact me for a free evaluation of the current value of your home or to discuss the current market conditions in your neighborhood. I welcome the opportunity to learn more about your home and show you how my marketing can take it from listed to sold.