Alexandria, VA Market Report –3/08/12

08 Mar
March 8, 2012

Inventory is down. Prices are up 2.1% from last year.  Interest rates are at an all-time low.  Do you think now would be a good time to buy?  Think YES.

In the month of January only 174 new listings came on the market.  With new pending sales at 154, do you think now would be a good time to sell?  Think YES.  It’s the law of supply and demand.  Homes priced right and in good condition are getting multiple offers and are on the market for less than 30 days.

You hear it in the news, you read it in the newspapers, reporters are saying we’ve reached the bottom of the market and the good deals in housing are over.  Think NO.

January 2012 January 2011 December 2011
Total Revenue $43,024,894.00 $51,768,601.00 $64,269,840.00
Median Sold Price $393,500.00 $385,250.00 $440,000.00
Units Sold 104 116 139
Average Days on Market 90 84 79
Active Listings 345 475 359
New Listings 174 176 111
New Pending Sales 154 179 125

There are still great deals to be made.  An experienced agent at Avery-Hess, Realtors will be happy to sit down and discuss your options on whether to buy or sell now.  You may be surprised to find what you learn.   You may be able to pay less buying a home than what you’re paying to rent!

Market data and commentary by Pattie Mancini, Sales Manager 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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