Alexandria, VA Market Report –12/10/12

10 Dec
December 10, 2012

Home sales and prices in the city of Alexandria are doing what they normally do this time of year.  Housing inventory is shrinking because of the holidays.

Too bad more sellers aren’t taking advantage of the law of supply and demand.  Buyers are out there looking for homes, but the pickings are slim at the moment.  It appears homes coming on the market are sold within days for top dollar and those sellers taking advantage of this market have something to celebrate right now.

 Of the 145 units sold in October, 59 were sold and under contract within 10 days.  An additional 22 units sold within 20 days!

October 2012 October 2011 September 2012
Total Revenue $68,645,542.00 $59,725,362.00 $75,980,426.00
Average Sold Price $474,878.00 $488,724.00 $473,418.00
Units Sold 145 138 160
Average Days on Market 40 67 45
Active Listings 386 505 431
New Listings 210 200 266
New Pending Sales 207 163 165

 

And you’re waiting to sell? why?

Traditionally sellers will wait until after the first of the year and I’ll tell you congratulations if you get your home on the market in January.  You’ll still be able to catch the demand the buyers are generating right now.  Wait until Spring, however, and you’ll be on the market with the 100′s of other folks “traditionally” planning on selling for the summer.

Remember, units described encompass detached, semi-detached, town homes, condominiums and coops.  Of the active listings mentioned above 104 are detached homes; 126 are attached/townhouses and 201 are condos/coops.

The most asked question of realtors today is “What is my home worth?”  Most homeowners aren’t aware of these statistics and are listening to the news about our bad economy and the housing market in general.  I think you’ll be pleasantly surprised to learn just how much your home has increased in value these last few years.

Our agents at Avery-Hess, Realtors are experts in the field of real estate and we want to help.   Want to know what your home is worth?  We’re available to answer any questions you may have so don’t hesitate to contact us.  Visit our website at www.AveryHess.com.

Information obtained from statistics supplied by Metropolitan Regional Information Systems, and analysis and comment by Patricia Mancini, Sales Manager at the Avery Hess, Realtors Springfield Office

 

 

 

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