Real Estate Market Update For Alexandria VA – August 2015
Alexandria home sales experienced a decrease in the number of homes sold from July to August. It’s typical to see sales start to decrease this time of year. Buyers have a bit more inventory to choose from and sellers are still seeing a strong sale to list price ratio. Days on the market increased but, only by 2 days and the sale to list price ratio remained about the same.
The following is a review of activity in Alexandria during August 2015.
•Number of Sales: 481 (decrease from 538 in July)
•Highest Priced Sale: $3,875,000
•Lowest Priced Sale: $109,900
•Median Sales Price: $450,000 (decrease from $465,000 in July)
•Median Days on Market: 20 (increase from 18 in July)
•Median Sale Price to List Price Ratio: 97.49% (increase from 97.45% in July)
Let’s check in on the same time period in 2014. There were 484 homes sold in August 2014 and the median sale price remained the same. The median sale to list price ratio remained consistent as well 97.27% in 2014 vs. 97.49% in 2015. The days on the market remained consistent - 21 in 2014 vs. 20 in 2015. Overall there hasn’t been much change for August when comparing 2014 and 2015, the market remains strong in Alexandria.
Is It A Buyer’s Market or a Seller’s Market?
Right now it’s neither! It’s a stable market in Alexandria and that’s good news for buyers and sellers because the playing field is level. The small increase inventory and decrease in the number of properties sold has shifted the market to stable but, there’s just slightly over 3 months of available inventory so buyers need to be mindful it could easily shift back to a seller’s market. There are still properties that are only on the market for a couple days. Be sure to hire the right local agent that can successfully guide you through your home purchase. Seller’s should note that with the slight increase in inventory it is extremely important to properly prepare your home for sale. Having your home properly staged, priced according to the market, and easy to show from the moment it hits the market are all important factors to obtain the highest price is the shortest time possible.
Buyers: If you’re considering a home purchase in the Alexandria area I want to be your agent. I am always ready to get to work and welcome the opportunity to learn about your home buying goals. To see homes for sale in Alexandria please visit the link.
Sellers: Although inventory has seen a slight increase in Alexandria it is still a good time to sell. As we enter into the fall season less homes will be on the market which means less competition. Contact me for a free evaluation of the current value of your home or to discuss the current market conditions in your neighborhood.
C 703.431.3755 | O 866.825.7169 ext: 743 | W www.amandadavidson.com
A 1320 Central Park Blvd Suite 200, Fredericksburg, VA 22401
