Del Ray Average Home Price for December 2017 - $716,053
When gauging the real estate market activity for Del Ray, December's average sales price of $716,053 is just slightly below the five-year December average of $721,074.
The Del Ray home values are consistently above the average sales prices of Alexandria City. Take a look at the interactive chart below for a visual of the disparity in average sales prices. With a limited number of condos, many homeowners and investors seek out Del Ray's older rowhouses and duplexes to renovate them, adding contemporary finishes and sometimes additional square footage.
One of the biggest influences on home prices in Del Ray is the lack of inventory, or low supply of homes on the market. Take a look below at the number of 'Active' listings in 2017, in the last half of the year, the number of properties on the market took a nose dive and never bounced back.
April and June 2017 saw record highs of 38 'Active' listings on the market at a time, while in December, buyers had only 12 properties to choose from in their search.
What If I'm Selling My Home In Del Ray?
With less than one full month of inventory, homeowners have a far superior advantage. On average, homes stayed on the market for 43 days in December, and home sellers accepted an 99.4% of their original asking price for homes.
What If I'm Buying A Home In Del Ray?
Bank foreclosures and even short sales are non-existent in Del Ray. So if you're thinking about snagging a below-market find, you'll have to venture out to other parts of Alexandria City. Of the 282 homes that sold in Del Ray in 2017, 44 of them were purchased using VA financing so active duty military and veteran service members took advantage of their VA loans in the area.
Find Out More Today
If you are wondering what your Del Ray home might be worth in today's real estate market, use our online home value estimator right now. Each home in Del Ray is unique, with different styles and degrees of renovation, so be sure to give me a call at 703-623-8759 for the most accurate market evaluation of your home and if you're looking to sell in the next 3-6 months.