Interested in Alexandria condos for sale? This article lets you search all listings of properties for sale in this Northern Virginia city, as well as sales data that gives you an idea of where the real estate market has been heading here over the past month.
All of the data in this article comes directly from the MRIS, the multiple listing services that real estate agents use in this region.
Alexandria Condos – Buyer’s or Seller’s Market?
In this blog post, we’re looking at sales data from June 2017.
• New Condo listings in June 2017: 158
• Number of closed sales for condos: 131
• Average sale price: $344,003
• Average list price: $350,666
• Sales price to list price ratio: 98.1%
• Average days on the market: 40
• Number of pending sales (contracts) in June 2017: 125
• Absorption rate: In February 2017, the condo market in this area had 1.21 months of inventory. Balanced real estate markets typically have around 5 to 7 months of inventory. When you see less than 5 months of inventory on the market, this indicates a seller’s market, while more than 7 months of inventory points toward a buyer’s market.
View all current pending and active listings of Alexandria condos for sale, as well as closed sales from the past 3 months!
In June, Alexandria condos were in a seller’s market. The contract ratio was 0.71, which was a decrease from May’s contract ratio of 0.77, but an increase from June of 2016, when it was 0.59. An increasing contract ratio indicates market movement toward sellers. So, the hot seller’s market from the spring cooled down just a bit in June, but not much. Overall, it’s a busier market in June than it was last year at this time.
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Schedule Tours of Alexandria Condos!
Call me at 703-462-0700 or email me at DarrenRobertsonHomes@gmail.com to schedule an appointment to view one of the many great condos for sale in this exciting area of Northern Virginia!
Contact me and ask for a free market valuation. I’ll provide an in-depth property value estimate that will help you decide whether this is the right time for you to explore selling. You might be surprised by how much equity you currently have in your property.
Check Out Past Market Updates for Condo Sales in this Area!
Alexandria Condos – Market Update - March 2017
January – 2017 Market Snapshot – Alexandria Condos