Alexandria VA Foreclosures For Sale - March 2014 Market Update

Alexandria VA Real Estate - The volume of foreclosures and bank owned homes for sale in Alexandria VA continue to be a very small part of the overall real estate market.  Listings of traditional sales have been climbing steadily over the past three months, while the number of foreclosures on the market has remained stagnant.  Take a look at the interactive chart below:

 The number of new listings in Alexandria VA climbed to 679 in March, of the 679 only 10 were foreclosures.  When you look at the number of new foreclosure listings over the past 12 months, you'll see that it's been hovering between 8 and 15.

Even though there aren't many foreclosures to choose from, it looks like buyers are overlooking them in pursuit of traditional resales.  When you look average days on market, you'll see that Alexandria VA foreclosures averaged 45 days in March closing in on the 49 days for the resale homes.  For the first time in seven months, traditional resale homes stayed on the market longer than foreclosed homes.

Based on the sales prices, it looks like foreclosures are still the way to go when it comes to getting a better deal, but for how long?  In March Alexandria VA foreclosures were sold at 93.8% of asking price, and traditional resales averaged 97.5% of the original list price.

 

Alexandria VA Foreclosure Specialist

Alexandria VA foreclosures and bank owned homes are available in all price ranges, from starter homes and condos to luxury homes, so whether you are a first-time buyer or an experienced investor, there are opportunities available.  When you are ready to start your home search, be sure to contact a buyer agent who is experienced with these types of transactions.  From special financing to multiple inspections, there are more things to consider when buying a foreclosure in Alexandria VA.

For a current list of all the foreclosures and bank owned homes for sale in Alexandria VA, just click here.  For a complete list of Alexandria VA homes for sale including condos, duplexes, townhomes, and luxury homes be sure to visit Alexandria VA home searches or call me directly at 703-623-8759 to discuss your real estate needs.

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