Alexandria VA Real Estate Market Update - February 2014
Days On Market Continues To Rise
Alexandria VA Real Estate - Even though the statistics show signs of increased activity, homes are staying on the market longer in Alexandria VA. Here are some additional insights on the Alexandria VA real estate market for February 2014.
Closed Sales vs New Pendings
There were 100 homes that sold in Alexandria VA in February, up 10 units from January's total of 90.
While an increase in homes sold is in the positive direction, it's also positive to see how many home went 'under contract' or pending. In February, new pendings were up for the second month
What is the median price of a home in Alexandria VA?
The chart above show the median prices for the different types of homes in Alexandria VA.
The median price of a condo was $255,375; a townhome/attached home was $510,000; and a single-family detached home was $790,000. Overall, the median price of a home in Alexandria was $442,500 in February.
How long were homes on the market in Alexandria VA?
In February, Alexandria homes averaged 63 days on the market.
This represents the 6th consecutive month of an increased amount of time
it takes for a home to sell. This could signify the beginning of a shift to a buyers market, however, it's tricky to say if that's the case because we are coming off of a season of heavy snow and are entering the spring market.
What was the Average List Price - To Sold Price?
The average list price to sold price ratio continues to stay above 95% for homes in Alexandria VA.
In February, sellers were still holding strong by getting 96.6% of their original asking price for a home.
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