Del Ray Real Estate Market Report and Sale Update - May 2013
Sales Volume Up For Third Consecutive Month
Del Ray Real Estate and Homes For Sale - Located in Alexandria City and just a few short minutes from DC, the Del Ray area of 22301 remains to be a hot market. Known for its trendy bungalows, affordable duplexes, charming cape cods, and remarkable rebuilds, homes sales in Del Ray continued to climb in the month of May 2013.
In May, there were 34 homes that sold in Del Ray, up from 26 in April, 19 in March, and 12 in February. The number of homes sold in Del Ray over the past few months is a welcome and positive sign for the real estate market. With low interest rates, buyers are taking advantage of increased buying power and snapping up these close-in homes, reducing the cost of the commute.
The median sales price increased slightly in the month of May, up to $665,500. Last year's median was $551,250. The average sales price for a home for sale in Del Ray was $751,505. In May 2012, the average sales price was $626,645.
What Del Ray home seller who has been on the fence wouldn't want to sell now?! The average days on the market was just over a month, at 35 days. In May 2012, the average was 34 days.
And Del Ray homes sellers are getting very close to their original asking price as well. In May 2013, the average sold price-to original list price ratio was 98.5%, giving up just a little bit but not bad when you consider that in May, it was 97.45%.
Del Ray Alexandria VA Market Analysis
May was an absolutely exceptional month for the Del Ray real estate market. Looking back the trend is clearly visible, and the pendulum has swung back into the seller's favor. Increased average sales price, increased closing price ratios, and days on market only increased by one day from this time last year. There's no question that location is a big factor for buyers who are looking to stay close in. Right now, there are 26 active home listings in Del Ray, and this is down by two units from this time last year. Buyers who are new to the Del Ray real estate market would be wise to review these current statistics. The market is hot, homes are moving fast, and there's not a lot of room for negotiating.
Click this link to see a current list of all Del Ray homes for sale in Alexandria VA for zip code 22301.
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