Alexandria, VA Market Report – 3/9/11

09 Mar
March 9, 2011

Old Town Alexandria is a year round tourist area and the showcase of the city. As you leave the city on the south end and follow Route 1 you pass through diverse neighborhoods leading down to Ft. Belvoir.

Leaving the city going north brings you to Crystal City, and going west towards I-95 will bring you to The Mark Center at Seminary Rd. I mention these other locales in that they are all part of the Army’s BRAC program, the base relocation program that will bring more than 20,000 jobs to that area.

With the City of Alexandria right in the middle of it all, it offers the best of all worlds for those seeking shorter work commutes and all the fine amenities of an All- American city. The early part of 2011 shows an improved market condition from the previous year and a continued upward trend in prices.

2011 2010
Sold Dollar Volume $51,768,601 $48,865,105
Average Sold Price $446,261 $403,869
Average Days on Market 84 69
Active Listings 475 432
Pending Sales 273 262

Of the 116 units sold, only 15 were single family detached with an average sales price of $755,880. The remaining 101 were attached housing with an average sales price of $400,301. So the townhouse/condo market is seeing the most activity for now.  Interest rates are still very low so now is a great time to take advantage of an opportunity to find your home in a vibrant location near world-class shopping and dining. Spend your summer evenings on the Alexandria waterfront and visit your favorite night spots before your short drive home.

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

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