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

How Did Home Sales Perform in Alexandria in May 2018?

How Did Home Sales Perform in Alexandria in May 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.

Carrington Estates


Here are the stats for May 2018 in Alexandria…

•Number of Sales: 614 (increase from 531 in April)

•Highest Priced Sale: $2,600,000

•Lowest Priced Sale: $87,000

•Median Sale Price: $496,300 (decrease from $503,200 in April)

•Median Days on Market: 7 (no change from April)

•Median Sale Price to List Price Ratio: 99.03% (no change from April)

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

•Number of Sales: 609

•Highest Priced Sale: $1,842,500

•Lowest Priced Sale: $105,000

•Median Sale Price: $460,775

•Median Days on Market: 8

•Median Sale Price to List Price Ratio: 98.75%

 

Reviewing the same timeframe in the previous year allows us to analyze how the market has changed.  Median sale price is up by 7.7% as compared to May 2017. Days on the market saw no measurable change and sale to list price ratio remained consistent.

Alexandria Home Sales May 2018

 

Active Listings in Alexandria
As of today, there are 857 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 studio with 471 square feet listed at $100,000 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 35 days on the market, an increase of 4 days as compared to last month.

 

Alexandria Market Update May 2018

 

Pending Sales in Alexandria
There are currently 804 homes under contract. Median days on the market for the pending homes is 14.

 

View homes for sale in Alexandria

 

Is Alexandria in a buyers or a seller’s market? It remains a seller’s market. Supply continues to struggle to keep up with demand and although interest rates have increased so far there is no sign of buyers slowing down. It’s an excellent time to sell your Alexandria home. Just keep in mind that while the market is favoring sellers that doesn’t mean proper preparation and exceptional marketing isn’t key. Buyers know they are in most cases paying top dollar and in turn they expect a product that has a reasonable amount of updates, shows well and is priced correctly. Sellers who overprice their homes will still see the market react in the form of the home sitting and becoming what we like to call stale bread. No one pays top dollar for stale bread! With the right agent to guide you and the proper marketing plan in place, your home can set a record for the neighborhood. It’s not just about selling, it’s about selling for the highest price in the shortest time possible.  

Alexandria Market Update May 2018 

Homes that are moving quickly have a few things in common: 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.

Home Sales in Alexandria May 2018 

Buyers have to be prepared to make quick decisions in the current market. Have your pre-approval in hand and work with an agent who has full-time availability to show you homes as soon as they come on the market. Days on the market continue to be extremely low and that means delaying in making a decision can cost you the home you fall in love with. In general, the current market is not conducive to negotiating power for buyers but, there are some homes that will be an exception. If the home you want has only been on the market for a couple days 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 Housing Market Update May 2018 

Reach out to Amanda at 703-431-3755 or email amanda@amandadavidson.com to talk about the marketability of your home. Market reports provide general information but, they sure don’t replace a custom market analysis from an agent who understands the intricacies of the Alexandria real estate market. Every home and its unique features influence where it should be priced. Achieving top dollar for your home regardless of the current market conditions is always our goal.

 

 

 

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 12 commentsAmanda S. Davidson • June 26 2018 01:47PM

Comments

Good afternoon Amanda - you do a very thourough analysis of the market in Alexandria.  All buyers and sellers need is your number.

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

Amanda, Buyers and sellers are going to like your thorough market report on Alexandri. It looks like a solid market! 

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

Happy Friday Amanda. It is a good time to be a seller in the Alexandria VA real estate market.

Posted by Anita Clark, Realtor - Homes for Sale in Warner Robins GA (ColdwellBanker SSK Realtors ~ 478.960.8055) 4 months ago

Amanda, great market update for Alexandria, VA, and nice to see it remains a Seller's market.

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

Hi Amanda, this is a great market update on the Alexandria real estate.

Posted by Rebecca Gaujot, Realtor®, Lewisburg WV, the go to agent for all real estate (Vision Quest Realty, Martha Hilton, Broker) 4 months ago

Amanda I am so amazed at your variance in price points from the low end to the luxury price point, there is no excuse not to by in Alexandria, there is a home for every budget, Endre

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

Your market reports are inclusive of everything that consumers want to know about an area, great job my friend!!!

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

Thank you for taking the time to prepare and share this vital information.  It's most informative, and exactly the type of information that buyers and sellers need to make informed decisions.

Posted by Jim Crawford, Jim Crawford Atlanta Best Listing Agents & REALTOR (Crye-Leike REALTORS®) 4 months ago

Thank you all for your comments! It's a sold market here that's for sure. Looking forward to seeing what the rest of the year holds!

Posted by Amanda S. Davidson, Alexandria Virginia Homes For Sale (Amanda Davidson Real Estate Group) 3 months ago

Glad the market is strong and you have sellers happy with getting 99% of list ot sale prices.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) 3 months ago

Amanda S. Davidson - What can I say, other than you are simply amazing at presenting information about your market area and you have a phenomenal record for home sales yourself!

Posted by Patricia Feager, Selling Homes Changing Lives (DFW FINE PROPERTIES) 3 months ago

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