Realtor - Amanda S. Davidson

Condo Sales in Alexandria, VA – Market Update August 2017

Condo Sales in Alexandria, VA – Market Update August 2017

Alexandria condo sales have been strong all year and August was no exception. Let's take a look at the numbers and then review the story behind them.

 

Alexandria Condo Sales

 

August 2017 Condo Sales in Alexandria

•Number of Sales: 173 (decrease from 199 in July)

•Highest Priced Sale: $1,165,000

•Lowest Priced Sale: $112,500

•Median Sales Price: $284,215 (decrease from $285,000 in July)

•Median Days on Market: 15 (increase from 16 in July)

•Median Sale to List Price Ratio: 97.75% (decrease from 98.00% in July)

 

How Does August 2016 Compare to August 2017?

There were 15 more condos sold last August. The median sale price was higher this year by $19,215 and days on the market were lower this year by 1. The median sale to list price ratio was just a bit stronger this year 2016 – 96.83% vs. 2017 – 97.75%.

 

Alexandria Condos

 

Current Condo Inventory in Alexandria

There are 379 condos for sale in Alexandria, an increase of 30 from the same timeframe last month. The condos range from a 1 bedroom, 1 bathroom priced at $99,900 up to a 3 bedroom, 2.5 bath priced at $2,800,000.

 

Is It A Buyers or a Seller’s Market?

The condo segment of the Alexandria real estate market remains a seller’s market. Sales remain strong and days on the market are still very low. Historically August is a slower month due to many buyers being on vacation and preparing for back to school. While we saw a decrease in the number of condos sold it was very small and median sale price remained consistent. Condos that are selling quickly have similar characteristics. They show well, are priced correctly, and are accommodating for showings. As a buyer in the current market it’s important to be prepared to act promptly when you find the one. Waiting days to make an offer can mean the perfect condo for you is already under contract. Have your pre-approval in place and work with an agent that can accommodate showings that work well for your schedule.

 

Alexandria Condos

 

If you're considering purchasing a home in Alexandria contact us to start your search or to ask us any questions you have. We look forward to helping you.

 

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

 

Browse Alexandria Homes For Sale

 

 

 

Amanda Davidson Real Estate Group

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AMANDA DAVIDSON  
l ASSOCIATE BROKER l  
l AMANDA DAVIDSON REAL ESTATE GROUP BROKERED BY eXp REALTY l

C  703.431.3755   |   O  703.988.3151  |   W  www.amandadavidson.com

A  20130 Lakeview Center Plaza #400 Ashburn, Va 20147




Comment balloon 14 commentsAmanda S. Davidson • September 09 2017 01:26PM
Condo Sales in Alexandria, VA – Market Update August 2017
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