Realtor - Amanda S. Davidson: How Did Home Sales Perform in Alexandria in April 2018?

How Did Home Sales Perform in Alexandria in April 2018?

How Did Home Sales Perform in Alexandria in April 2018?
Home sales in Alexandria remained strong in April. The number of homes sold increased from March along with an increase in median sale price. Days on the market decreased and are extremely low. Sellers continue to have the market in their favor and are seeing over 99% for the sale to list price ratio.

Alexandria Housing Market Update

 

Here are the stats for April 2018 in Alexandria…

•Number of Sales: 531 (increase from 478 in March)

•Highest Priced Sale: $2,000,000

•Lowest Priced Sale: $87,000

•Median Sale Price: $503,200 (increase from $479,975 in March)

•Median Days on Market: 7 (decrease from 11 in March)

•Median Sale Price to List Price Ratio: 99.10% (increase from 98.48% in March)

To gain some perspective let’s go back and compare to April 2017…

•Number of Sales: 457

•Highest Priced Sale: $4,272,017

•Lowest Priced Sale: $87,000

•Median Sale Price: $462,000

•Median Days on Market: 9

•Median Sale Price to List Price Ratio: 98.61%

 

Alexandria Housing Market Update

 

Reviewing the same timeframe in the previous year allows us to analyze how the market has changed.  Median sale price is up by 8.9% as compared to April 2017 and the number of homes sold also saw an increase this year. Days on the market remained fairly consistent changing by just 2 days.

Alexandria Home Sales April 2018

 

Active Listings in Alexandria
As of today, there are 883 homes for sale in Alexandria. An increase from 796 at this time last month. The slight increase in inventory is good news for buyers. Supply certainly isn’t keeping up with demand but, any increase is a welcome one in the current market conditions. The lowest priced property is a 1 bedroom, 1 bath condo with 720 square feet listed at $135,900 and the highest is a 6 bedroom, 4.5 bath single family home with 8,145 square feet listed at $8,500,000. Current active listings in Alexandria have an average of 31 days on the market, a decrease of 7 days as compared to last month.

 

Alexandria Real Estate Market Update April 2018

 

Pending Sales in Alexandria
There are currently 867 homes under contract. Median days on the market for the pending homes is 9.

View homes for sale in Alexandria

 

The housing market in Alexandria remains a seller’s market. Low inventory and rising home prices are contributing factors to the current trends we’re experiencing. If you’re considering selling your Alexandria home keep in mind that while the market is trending in your favor that doesn’t mean proper preparation for the market isn’t needed. Buyers know the competition is steep and in turn, they are looking for a product that is turn-key and priced correctly. Overlooking the need to deliver a product to the market that buyers are seeking will inevitably impact a seller’s bottom line. Making the best first impression when listing your home is critical for a successful sale. It’s not just about selling, it’s about selling for the highest price in the shortest amount of time. Be the home that sets a record high selling price for the neighborhood, not the home that sits and becomes stale inventory. Buyers don’t pay top dollar for a home that’s been sitting on the market. As a seller in the current market, you have a very small window to maximize your equity due to how low the median days on the market are.

 

Alexandria Home Sales April 2018

 

Homes that sell quickly in Alexandria all have similar characteristics: they are clean and well maintained, reasonably updated, uncluttered, and they are priced according to the current market. As a seller, when you meet these conditions your home will not only stand out from the competition it will also have the best opportunity to sell for top dollar.

 

Alexandria Real Estate Market Report April 2018

 

Buyers have to be prepared to act quickly in the current market. Having a pre-approval in hand and working with an agent who has the flexibility to show a home that’s new to the market on short notice is a must. Days on the market continue to be extremely low and that leads to buyers needing to make a decision quickly if they want to make an offer on a property. In general, the current market is not conducive to negotiating power for buyers. Be prepared to make your highest and best offer upfront, it’s the smallest details that are making one buyer stand out from the next.

 

Alexandria Home Sales April 2018

 

Reach out to Amanda at 703-431-3755 or email amanda@amandadavidson.com to talk about the marketability of your home. Market reports do an excellent job of providing general information but, nothing replaces a comprehensive market analysis from an agent who understands the intricacies of the Alexandria real estate market. Every home and its features influence where it should be priced. Achieving the maximum dollar for your home regardless of the current market conditions is always my goal. You need a full-service agent who has a successful track record not only selling homes but, selling them for top dollar!

 

 

 

 

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 19 commentsAmanda S. Davidson • May 29 2018 07:37PM

Comments

Being prepared, regardless of the amount of inventory...pre approval in hand and ready to make a decision is...Priceless !

Posted by Sally K. & David L. Hanson, WI Realtors - Luxury - Divorce (EXP Realty 414-525-0563) 4 months ago

You have the best market reports and blogs hands down!  Great job!

Posted by Kristin Johnston - REALTOR®, Giving Back With Each Home Sold! (RE/MAX Realty Center ) 4 months ago

You always provide good information about your housing market. Thank you for sharing.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) 4 months ago

Hi Amanda... no doubt the Alexandria market is hopping and hot! What I'd like to know is what $87,000 could possibly buy one in Alexandria!

Posted by Nina Hollander, Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor (Coldwell Banker Residential Brokerage | Charlotte, NC) 4 months ago

Amanda, sure looks like the real estate market is heating up in Alexandria, and quite the range of prices for buyers to choose from.  You are the expert to call when buyers or sellers are ready to move.

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

Amanda, Looks like Alexandria had a solid performance in April, and consumers will like reading this.

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

Hi Amanda S. Davidson - This is a very telling report that you live and work in a very desirable place to live. 

Wishing you all the glory and success you deserve because you are worthy  of it and your services are always the best. 

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

Hey Amanda,   You know your area so much and you do a great job for all your clients

 

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

Hi Amanda S. Davidson - Very nicely done and easy to understand. More proof that you are the agent with the needed expertise to help clients fill thier real estate needs in Alexandria VA.

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

Thank you all for your comments. I really enjoy writing market reports, a great way to really dive into what the numbers mean. Thank you again!

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

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

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

You do such a great job of keeping your eye on the market in Alexandria, people would be crazy to not call you when they have questions.

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

Good afternoon Amanda - you have a strong sellers market but let sellers know that no just any home will sell quickly.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) 4 months ago

Families on the move will appreciate your local real estate market reports.

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

Wow, you are in a strong sellers market. Ours looks that way at first glance, but homes in the 600K and above range are moving slower...interesting. We are keeping a careful eye on it...

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

Amanda S. Davidson  anyone looking to buy or sell in alexandria- should contact you the expert in this area

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) 4 months ago

You have such a strong market, Amanda. I know you are selling a lot of homes and condos and making buyers and sellers dreams come true.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) 4 months ago

Hi Amanda

This is a terrific overview of the Alexandria housing market with some good insights for buyers, and sellers! Buyers especially need strong guidance and advice in order to compete effectively in your market, and the person to provide that is you!

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude - Carlsbad (Solutions Real Estate ) 4 months ago

Amanda, loved your overview of the Alexandria housing market. Now in all fairness I loved your photos even more, Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) 4 months ago

Participate