The City of Alexandria is a quaint Historic District located across the Potomac River from Washington, DC. It has been home to many historical figures since before the American Revolution. The city is made up of several neighborhoods with homes in all price ranges–from subsidized housing to million dollar properties. The official Metropolitan Regional Information Systems (MRlS) statistics for the month of September have not been released as of yet but the following represents some of the market activity for the month.
- New listings: 244
- Total active listings: 500+
- Under contract: 85
- Closed sales: 149
It appears that new inventory is being added to the market which will begin to satisfy the buyer demand. Approximately two-thirds of the homes sold in September were under $500,000. First time buyers are hurrying to get under contract and to settlement before the end of November to qualify for the $8000 federal tax credit. There has been conversation from politicians expressing support for an extension of this benefit. It appears to have bi-partisan interest and we’re hoping Congress acts favorably. The time has never been better for buyers to purchase a home. Sellers can take advantage of the pent-up demand for homes now while the inventory of homes remains low.
Market data and commentary by Charlie Carroll, Managing Broker at Avery-Hess, Realtors.
Search for homes in the City of Alexandria, and the rest of the DC Metro: www.averyhess.com