Realtor - Amanda S. Davidson: Condos For Sale In Alexandria | Market Update June 2018

Condos For Sale In Alexandria | Market Update June 2018

Condos For Sale In Alexandria | Market Update June 2018

The condo market in Alexandria remains strong. The number of condos sold saw an increase as compared to last month but, the sale to list price ratio slightly decreased. It’s still over 97% which is very strong but, the typical early summer lull did play a role in stats for June.

Condo Sales In Alexandria 

June 2018 Condo Sales in Alexandria

•Number of Sales: 212 (increase from 186 in May)

•Highest Priced Sale: $1,284,500

•Lowest Priced Sale: $113,490

•Median Sales Price: $272,543 (decrease from $278,750 in May)

•Median Days on Market: 14 (increase from 10 in May)

•Median Sale to List Price Ratio: 97.88% (decrease from 98.42% in May)

Alexandria Condos Sales 

How Does June 2017 Compare to June 2018?

222 condos sold in June 2017 – more than this year but, not by many. Median sale price saw very little change, $269,875 in 2017. Days on the market differed by just a day, 13 in 2017 and median sale to list price ratio remained consistent, 97.78% in 2017. Overall there was very little change in the market from this time last year.

6 Month Sales Volume Comparison

Alexandria Market Update Condo Sales

 

Current Condo Inventory in Alexandria

There are 306 condos for sale in Alexandria, slightly less than inventory levels this time last month. Inventory still remains low but, now that summer is officially upon us we have seen the market slow a bit. This is very normal, school is out and it’s vacation time! That doesn’t mean the seller’s market has ended though, it hasn’t. Sellers do however need to be cautious of overpricing their homes, buyers spot an overpriced home quickly and the market will react in the form of it sitting on the market. Buyers are savvy and respond positively to homes that are properly priced and reasonably updated. Days on the market are still very low at 14 which shows us that homes are still moving quickly. Interest rates continue to creep up along with home prices and many buyers are acting now to avoid being subjected to higher interest rates in the months to come. 

 

Alexandria Condo Market Update

 

If you’re buying a home the current market you still need to be prepared to act quickly. There are exceptions to everything but, in general with condos moving quickly it’s not a good idea to not be ready to make an offer. By that we mean to have your pre-approval in hand and team up with an agent that has full-time availability and local expertise. A multiple offer situation is possible and you need an agent who knows how to navigate competitive waters. Taking a few days to think about making an offer can still mean the condo is already under contract.

Alexandria Condo Market Update 

If you’re a seller in Alexandria pre-marketing your condo before it goes on the market is a must. It lowers the days your home is on the market and gets the attention of buyers before its show time. Having buyers waiting to tour your condo the day it goes active sets the stage for a successful sale. The more interested parties, the higher the demand. No matter what the market conditions pricing is and always will be a key detail to selling a home quickly for top dollar. Do not be the home that’s overpriced and sits on the market turning into what we like to call stale bread. No one pays top dollar for stale bread. 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. Interview agents and select someone you trust and who has a proven track record not just selling homes but, selling them for top dollar.

 

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’re always happy to answer 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 14 commentsAmanda S. Davidson • July 18 2018 05:59PM

Comments

Amanda, looks like your inventory is increasing too.   Nice for buyers to now have a few more options.  Great report for condos in Alexandria.

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) 3 months ago

Alexandria 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) 3 months ago

Hi Amanda, I see buyers will have more choices now but they still need to call you for the best service and representation.

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

Good morning Amanda - I am sure there is lots of activity in condos in your metro area.  That highest price one must be a penthouse with a view of DC.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) 3 months ago

Great market information...happy Monday and make it a successful week!

Posted by Kristin Johnston - REALTOR®, Giving Back With Each Home Sold! (RE/MAX Realty Center ) 3 months ago

When I want to know more about condos in Alexandria, I scoot right over to your blog!

Posted by Brian England, MBA, GRI, REALTOR® Real Estate in East Valley AZ (Arizona Focus Realty) 3 months ago

Hi Amanda S. Davidson - You and your team are the obvious choice in the Alexandria VA market. Your clients know they can trust you to help them buy or sell real estate and that is why you are the leader in your market. 

Posted by Sheri Sperry - MCNE®, (928) 274-7355 ~ YOUR Solutions REALTOR® (Coldwell Banker Residential Brokerage) 3 months ago

Hello Amanda, Lots of condos to sell in your area till you get a vacation  hahaha.  Make it a great day!

Posted by Will Hamm, "Where There's a Will, There's a Way!" (Hamm Homes) 3 months ago

Amanda, You're the Alexandria VA expert and know all about the Real Estate market there. Buyers and sellers will be smart to call and work with you!

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) 3 months ago

Hi Amanda S. Davidson, it's a great help for home buyers and sellers to see a comparison year over year. Alexandria VA condo buyers and sellers would be wise to select you when the time comes.

Posted by Beth Atalay, Cam Realty of Clermont FL (Cam Realty and Property Management) 3 months ago

Amanda looks like the inventory is increasing, now it is more critical for buyers and sellers to get expert advice, Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) 3 months ago

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

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) 3 months ago

Thank you all for your comments, I appreciate you so much! 

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

Looks like things are looking up in your area and inventory is increasing.  Thanks for sharing!

Posted by Norma J. Elkins, Realtor - Elkins Home Selling Team ( Elite Realty Group) 3 months ago

Participate