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

How Did Home Sales Perform in Alexandria in June 2018?

How Did Home Sales Perform in Alexandria in June 2018?
June was another strong month for home sales in Alexandria. Sellers continue to enjoy an over 98% sale to list price ratio and low days on the market. Let's check in on all the details from June real estate sales in Alexandria. 

Home Sales In Alexandria June 2018

 

Here are the stats for June 2018 in Alexandria…

•Number of Sales: 653 (increase from 614 in May)

•Highest Priced Sale: $2,875,000

•Lowest Priced Sale: $113,490

•Median Sale Price: $504,500 (increase from $496,300 in May)

•Median Days on Market: 10 (increase from 7 in May)

•Median Sale Price to List Price Ratio: 98.57% (decrease from 99.03% in May)

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

•Number of Sales: 652

•Highest Priced Sale: $3,900,000

•Lowest Priced Sale: $100,000

•Median Sale Price: $482,300

•Median Days on Market: 9

•Median Sale Price to List Price Ratio: 98.50%

Comparing the previous year highlights changes in the market. In this case, the market has remained consistent with the exception of the median sale price which saw a 4.6% increase.

Alexandria Market Update June 2018

 

Active Listings in Alexandria
As of today, there are 847 homes for sale in Alexandria. A decrease from 857 at this time last month. The lowest priced property is a studio with 467 square feet listed at $115,000 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 48.5 days on the market, an increase of 13.5 days as compared to last month.

 

Alexandria Housing Market Update June 2018

 

Pending Sales in Alexandria
There are currently 614 homes under contract. Median days on the market for the pending homes is 35.
 

View homes for sale in Alexandria

Is Alexandria Experiencing A Buyer’s Or A Seller’s Market?

In general 0-3 months of inventory is considered a seller’s market. Alexandria currently has less than 1 month of inventory. A trend that we’ve experienced throughout the year. Demand continues to outpace supply. It’s an excellent time to sell your Alexandria home. The fact that it’s a seller’s market doesn’t mean there aren’t pitfalls to avoid. 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. They resist homes that are overpriced and steer clear of them. 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 that’s customized to your home, you will have a successful sale. It’s not just about selling, it’s about selling for the highest price in the shortest time possible. 

Alexandria Housing Market Update

 

Homes that sell quickly and are in high demand have similar characteristic; 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 Market Report June 2018

 

Buyers have to be prepared to make quick decisions in the current market. Have your pre-approval in hand, know what your must-haves are, 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 remain very low and delaying in making an offer when you find a home you love can mean it’s already under contract. 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 up front, it’s the smallest details that are making one buyer stand out from the next. Price is, of course, an important factor but, seller concessions, contingencies, and closing date are also details buyers need to consider. Rely on your agent to help you construct an offer that’s going to stand out to the sellers.

 

Housing Update For Alexandria June 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 top priority. 

 

 

 

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 • July 29 2018 01:27PM

Comments

HI Amanda S. Davidson - You have some very convincing reasons why sellers and buyers alike can be successful in their real estate decisions if they hire you and the Amanda Davidison Real Estate Group, in Alexandria VA. 

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

This is a very good report, Amanda. You know the data and buyers and sellers in Alexandria can depend on you.

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

Amanda, great overview of the real estate market in Alexandria, and nice to see this month compared to last month, and last year!  

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

Good morning Amanda - the sellers market continues in Alexandra.  Sellers should heed your advice and make sure their updated homes are show ready if they want to participate.

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

You are always the first person that comes to my mind when I think about Alexandria and I know people there trust you with their real estate needs!

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

Thank you, everyone! I enjoy studying the trends in Alexandria and it helps me serve our clients. I'm always intrigued to see how sales turned out at the end of the month!

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

Quite the price span from the lowest to the highest active listing. But then, it's probably similar to most markets. A lack of inventory continues to be the big issue...

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

Nice message here about the Alexandria Housing Market Amanda. It's always good for both buyers and sellers to know what's going on in their neighborhoods.

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

Families on the move will appreciate your local market reports.

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

Here's to you getting that buyer for the $8.5M listing, Amanda!

Seriously, great Alexandria market report for June. Our DOM increased as well  but, that was typical for summer months...as did the inventory (no surprise there).

Hope you have a great week ahead!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 4 months ago

Hello Amanda- - -a very comprehensive real estate report that will certainly answer most questions from prospective buyers and sellers. Very good and informative. 

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

Participate