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

How Did Home Sales Perform in Alexandria in August 2018?

How Did Home Sales Perform in Alexandria in August 2018?
Let’s take a look at how Alexandria home sales performed during August 2018. We’ll look at the numbers first and then go over the story behind them.

Alexandria Home Sales August 2018


Here are the stats for August 2018 in Alexandria…

•Number of Sales: 491 (decrease from 582 in July)

•Highest Priced Sale: $3,000,000

•Lowest Priced Sale: $82,500

•Median Sale Price: $470,000 (decrease from $492,750 in July)

•Median Days on Market: 13 (no change from July)

•Median Sale Price to List Price Ratio: 98.43% (increase from 98.31% in July)

Houses Sold in Alexandria August 2018


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

•Number of Sales: 491

•Highest Priced Sale: $3,120,000

•Lowest Priced Sale: $112,500

•Median Sale Price: $455,000

•Median Days on Market: 16

•Median Sale Price to List Price Ratio: 97.75%

Comparing the previous year highlights changes in the market. In this case, the market has remained very consistent with the exception of the median sale price which saw a 3.29% increase.

Homes For Sale in Alexandria


Active Listings in Alexandria

As of today, there are 965 homes for sale in Alexandria. A slight increase from 898 during the same timeframe last month – good news for buyers. The lowest priced property is a 1 bedroom, 1 bath condo with 850 square feet listed at $109,900 and the highest is a 6 bedroom, 4.5 bath single family home with 8,145 square feet listed at $7,500,000. Current active listings in Alexandria have an average of 41 days on the market, a decrease of 10 days as compared to last month.

 

Pending Sales in Alexandria
There are currently 546 homes under contract. Median days on the market for the pending homes is 26, an increase of a day as compared to last month.

 

View homes for sale in Alexandria 

 

Homes Under Contract In Alexandria  

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

The real estate market in Alexandria remains a seller’s market. There’s been a lot of talk about the market crashing and that’s simply not accurate. That said, the market is not as frenzied as it was this spring and in our opinion, that’s a good thing. It’s not realistic to sustain the conditions we experienced this spring. 5, 10, sometimes 20+ offers on homes being one of those conditions isn’t something that’s healthy in the real estate market long term. The market is balancing itself from the spring – it’s not a balanced market though, sellers are still in the driver’s seat. Buyers, however, have a bit more inventory to choose from now than they did earlier this year. We’ve experienced that buyers want a turnkey product and they want to see the value – overpricing your home in the current market conditions will absolutely cause it to sit on the market. Do not try to chase the market if you’re a seller, buyers will spot your overpriced home and steer clear of making an offer. The cost of a price reduction or high days on the market will be far higher than pricing your home correctly right from the start. Homes are still moving quickly and those that sell the fastest have three things in common, they’re priced according to the market, they’re updated, and they show well. Making your home convenient for agents to bring buyers for a tour is also key to a successful sale. We recently had buyers interested in seeing a few homes and one was taken off the list because it only showed from noon to 1 pm during the week. That didn’t work at all for our buyers so they simply removed it from the homes they wanted to see. Having flexible showing hours when your home is for sale is important!

 

Alexandria Market Report August 2018

 

If you’re a buyer in Alexandria you’ve got more homes to choose from and less competition from other buyers than earlier this year – good news! Rates are on the rise, even though they’re still historically low they are increasing and that means waiting to buy is going to cost you more. That could be both in the form of a higher rate and higher sale price on your home as home prices continue to rise too. We’re still seeing homes at the $600k and below price point move very quickly in Alexandria. Multiple offer situations aren’t as common as they were earlier this year but, they do still exist. If you find a home that shows well, is priced correctly, and just came on the market the odds of other buyers being interested is still strong. Don’t delay in making a solid offer, waiting a few days could mean you never get the chance. Rely on your agent to give you insight on the pulse of the market in the neighborhood you’re considering buying in. having someone working on your behalf who is immersed in the Alexandria real estate market is priceless.

 

Alexandria Housing Market Update

 

Reach out to Amanda at 703-431-3755 or email amanda@amandadavidson.com to ask questions about the Alexandria real estate market or to arrange for a market analysis on your home. Market reports are a great tool to provide general information but, they sure don’t replace a market analysis that’s based on the unique features your home offers from an agent who understands the intricacies of the Alexandria real estate market. Just interested in a general estimate for your homes current value? Use our free home value tool to receive a free estimate in minutes.

 

Browse homes for sale in Alexandria

 

 

 

Amanda Davidson Real Estate Group

 

 

      

 

Amanda Davidson

Amanda Davidson Real Estate Group

Broker - Owner
Licensed in VA and DC

5680 King Centre Drive #600
Alexandria, VA 22315

Cell: 703.431.3755
Fax: 703.562.7057




Comment balloon 14 commentsAmanda S. Davidson • September 22 2018 08:33PM

Comments

HI Amanda... it seems to me that Alexandria home sales are quite solid most of the time. It's location would keep it at the top of people's lists as a place to move to.

Posted by Nina Hollander, Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor (Coldwell Banker Residential Brokerage | Charlotte, NC) 3 months ago

Good morning Amanda S. Davidson,

Looks like Alexandria is holding rock steady and your presentation is very informative, especially to those who are hearing the doom and gloom! Buyers and sellers should reach out to you if they are thinking of selling or purchasing a home.

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.750.6899) 3 months ago

Amanda, great market update for Alexandria, and there is sure a wide range of prices available for buyers.   You are the expert to call when more information is needed!

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

This is good information for home buyers and sellers in your area.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) 3 months ago

Hi Amanda, the numbers speak for themselves - and there is no crash in sight for your Alexandria market. An adjustment is good for everybody. :) 

Posted by Debb Janes EcoBroker and Bernie Stea JD, REALTORS® in Clark County, WA (ViewHomes of Clark County - Nature As Neighbors) 3 months ago

Hi Amanda:

This is such a well-done and informative market report for both buyers and sellers, with a thoughtful analysis of what the numbers all mean. We are seeing similar trends here, too!

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 3 months ago

definitely a good question that I am sure picks up some reader! Thanks for sharing

Posted by Lise Howe, Assoc. Broker and Attorney Licensed in DC, MD, VA, (Keller Williams Capital Properties) 3 months ago

Happy Monday Amanda,  Great August report for your area, buyers and sellers need this information from Pro Realtors like you!

 

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

Good morning Amanda - I think we are seeing normal market price adjustments but I think that the market and the future are steady.

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

Wonderful Market update in Amanda S. Davidson Alexandria  I am sure it will bring you calls from people looking to make a move in this area

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) 3 months ago

Glad you set the record straight for the Alexandria Real Estate market Amanda. Consumers like to know what's really going on in their local markets!

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

Thank you, everyone! I appreciate your comments and always enjoy writing market reports.  

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

Hi Amanda S. Davidson - This is a nice spotlight on Alexandria, VA and lovely photo too! Your marketing reports are easy and fun to read!

Wishing you continuous success and prosperity!

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

Participate