Realtor - Amanda S. Davidson: Condos In Alexandria Market Report March 2018

Condos In Alexandria Market Report March 2018

Condos In Alexandria Market Report March 2018

Condo sales in Alexandria experienced a large increase in the number of units sold from February to March. Sellers continue to enjoy low days on the market and strong sale to list price ratios. Let's check in on the numbers and then review the story behind them.

 

Alexandria Condo Market Report

 

March 2018 Condo Sales in Alexandria

•Number of Sales: 181 (increase from 118 in February)

•Highest Priced Sale: $775,897

•Lowest Priced Sale: $85,000

•Median Sales Price: $255,000 (decrease from $268,000 in February)

•Median Days on Market: 13 (decrease from 22 in February)

•Median Sale to List Price Ratio: 97.59% (increase from 97.43% in February)

 

How Does March 2017 Compare to March 2018?

The number of condos sold saw very little change, higher this year by ten units. Median sale price decreased this year by slightly under $11,000. Days on the market saw no change and the median sale to list price ratio also remained consistent 2017 – 97.70% vs. 2018 – 97.59%. Overall there was very little year over year change.

 

Alexandria Condo Sales 

 

Current Condo Inventory in Alexandria

There are 238 condos for sale in Alexandria, a minor increase, really minor (16 units) from last month. There continues to be low inventory in Alexandria. New inventory that comes on the market and goes under contract quickly have similar characteristics – priced correctly, reasonably updated, shows well, and is convenient for agents to bring their buyers to for a tour. Although inventory is low that doesn’t mean buyers don’t resist overpriced condos, buyers are savvy and they do not go after condos that are overpriced. It’s very telling if a condo has been sitting for weeks on end, it’s overpriced. Do not make the mistake of overpricing your Alexandria condo if you are considering selling.

 

Condo Sales in Alexandria

 

Is it a Buyers or a Seller’s Market?

The market remains a seller’s market. Supply is not keeping up with demand and the low days on the market is telling of how quickly properties are moving. Buyers have to be prepared to act quickly when making an offer and making your very best offer right out of the gate has become a necessity.

 

If you’re considering selling the current market is in your favor. With that said, it does not mean you can overprice your home. Supply might be extremely low but, that doesn’t mean buyers won’t spot an overpriced home and eliminate it from their search. Planning ahead and teaming up with a local real estate agent that’s an expert in your area to properly execute a successful sale remains imperative. The details of preparing your home for sale, properly pricing it, and launching the right marketing plan will take you from listed to sold in the shortest time possible for the highest sale price possible.

 

Alexandria Condo Sales

 

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

 

If you’re buying or selling a condo in Alexandria and have questions reach out to us and let’s connect. We welcome the opportunity to learn about your real estate goals and are always happy to answer your questions.

 

Browse Alexandria Homes For Sale


 

 

Amanda Davidson Real Estate Group

 

 

      

 

Amanda Davidson

Amanda Davidson Real Estate Group

Broker - Owner
Licensed in VA and DC

6485 Old Beulah Street
Alexandria, VA 22315

Cell: 703.431.3755
Fax: 703.562.7057




Comment balloon 13 commentsAmanda S. Davidson • April 12 2018 12:55PM

Comments

Amanda, very comprehensive market report for the condos in Alexandria, and your market is sure heating up!  

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373) 4 months ago

It appears as if the condo market in Alexandria is a hot one. I know you're selling your share of them too, Amanda. You would be the only choice for us - whether buying or selling in Alexandria. 

Posted by Debb Janes EcoBroker and Bernie Stea JD, REALTORS® in Clark County, WA (ViewHomes of Clark County - Nature As Neighbors) 4 months ago

Your sellers market is hot and you're on fire! Your Marketing Report is very educational and informative. You definitely serve your clients and prospective new buyers and sellers well!

Posted by Patricia Feager, Selling Homes Changing Lives (DFW FINE PROPERTIES) 4 months ago

People in your area stay very well informed with the information that you provide on a daily basis!

Posted by Brian England, MBA, GRI, REALTOR® Real Estate in East Valley AZ (Arizona Focus Realty) 4 months ago

Hi Amanda S. Davidson - With a DOM of 13 days, buyers need your expertise and ability to react fast to help them secure a condo in the Alexandria market. 

Posted by Sheri Sperry - MCNE®, (928) 274-7355 ~ YOUR Solutions REALTOR® (Coldwell Banker Residential Brokerage) 4 months ago

Your days on the market for condos in Alexandria always impresses me Amanda!

Posted by Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400, Long Island Condo & Home Sale Specialists (The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803) 4 months ago

Buyers and sellers really appreciate and value updated real estate market information and local statistics.  Thank you for your latest condo report for Alexandria Virginia.

Posted by Joyce Marsh, Daytona Beach Florida, Presenting The Finest in Florida Coastal Living... (Joyce Marsh Homes Team at Premier Sotheby’s International Realty) 4 months ago

Hello Amanda S. Davidson,  You know your market and would save so much time for buyers with your knowledge.

 

Posted by Will Hamm, "Where There's a Will, There's a Way!" (Hamm Homes) 4 months ago

Hi Amanda,  very good report for the condo segment of the Alexandria real estate market.  Concise and detailed yet easy to read/understand.   Well-done.

Posted by Michael Jacobs, Los Angeles Pasadena Area Real Estate 818.516.4393 (Coldwell Banker Residential Brokerage) 4 months ago

Good morning Amanda.  Thanks for the information and update about the condo real estate market in Alexandria VA.

 

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) 4 months ago

Thank you, everyone! Things are very busy here and for anyone considering selling it's a prime time to do it.

Posted by Amanda S. Davidson, Alexandria Virginia Homes For Sale (Amanda Davidson Real Estate Group) 4 months ago

Condo sellers will be in very good hands when they select you as their listing agent.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) 4 months ago

Hi Amanda S. Davidson, what a great time to be a seller. Those who employ your services are in the BEST hands. 

Posted by Beth Atalay, Cam Realty of Clermont FL (Cam Realty and Property Management) 4 months ago

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