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Real Estate News in Alexandria - July 21st, 2016
06/2016 Market Statistic Data from MRIS = Metropolitan Regional Information System - Alexandria City: average detached = single family home sold price: $ 755,143 = -15.81 % decrease YOY = Year Over Year. Alexandria City: average attached home = town home sold price; $ 457,616 = -1.65 % decrease YOY. Alexandria City: average condo sold price: $ 333,854 = -1.19 % decrease. Days on Market: 32 vs. 42 a year ago = -23.81 % decrease. Average Sold Price to Original List Price: 97.8 % vs. 97.8 a year ago = +0.04 % increase. Most homes sold in less than 10 days on market. 25 cash buyers, 178 conventional loans, 22 FHA loans, 41 VA loans. Inventory: 490 active listings vs. 576 a year ago = -14.93 % decrease. Pendings = Properties Under Contract: 345 vs. 328 = +5.18 % increase. PLEASE KNOW there is Alexandria City / close to DC and Alexandria in Fairfax County going further out west / away from DC. Home Prices there are a lot cheaper and homes are newer. Alexandria has lots of different zip codes and each zip code has very different sales numbers. The MLS code for the City starts with AX, County MLS code starts with FX. Contact me for detailed info for YOUR preferred zip code.
Please copy and paste link below in your browser to see detailed report for Alexandria.
http://184.106.219.108/report/mls/1/drp?action=pdf&uid=14064744124996&sid=9c6000a7-c4c8-53f9-762b-53d518e73562&agg_type=MONTHLY&f_id=1000&loc_type=4&loc_id=51510&time_period=201606

News for Alexandria, VA - October 15th, 2015 11:49am
09/2015 Market Statistic Data from MRIS = Metropolitan Regional Information System
Alexandria City: average detached = single family home sold price: $ 835,061 = -3.93 % decrease YOY = Year Over Year.
Alexandria City: average attached home = town home sold price; $ 432,931 = +0.05 % increase YOY.
Alexandria City: average condo sold price: $ 316.249 = -1.39 % decrease.
Days on Market: 49 vs. 46 a year ago = +6.52 % increase.
Average Sold Price to Original List Price: 97.5 % vs. 96.9 % a year ago = +0.63 % increase.
Most homes sold in less than 10 days on market.
27 cash buyers, 132 conventional loans, 21 FHA loans, 35 VA loans.
Inventory: 575 active listings vs. 575 a year ago = 0 % increase.
Pendings = Properties Under Contract: 243 vs. 235 = +3.40 % increase.
PLEASE KNOW there is Alexandria City / close to DC and Alexandria in Fairfax County going further out west / away from DC. Home Prices there are a lot cheaper and homes are newer.

http://184.106.219.108/report/mls/1/drp?action=pdf&uid=14064744124996&sid=9c6000a7-c4c8-53f9-762b-53d518e73562&agg_type=MONTHLY&f_id=1000&loc_type=4&loc_id=51510&time_period=201509

News for Alexandria, VA - March 20th, 2015 5:05pm
02/2015 Market Statistic Data from MRIS = Metropolitan Regional Information System

Alexandria City: average detached = single family home sold price: $ 934,457 = 8.72 % increase YOY = Year Over Year.
Alexandria City: average attached home = town home sold price; $ 491,488 = 26.56 % increase YOY.
Alexandria City: average condo 2/2015 sold price: $ 356,595 = 22.47 % increase.
Days on Market: 85 vs. 63 a year ago = 34.92 % increase.
Average Sold Price to Original List Price: 96.9 % vs. 96.6 % a year ago = 0.25 % increase.
Most homes sold in less than 10 days on market.
34 cash buyers, 86 conventional loans, 6 FHA loans, 15 VA loans.
Inventory: 403 active listings vs. 395 a year ago = 2.03 % increase.
Pendings = Properties Under Contract: 265 vs. 245 = 8.16 % increase.

PLEASE KNOW there is Alexandria City / close to DC and Alexandria in Fairfax County going further out west / away from DC. Home Prices there are a lot cheaper and homes are newer.

http://184.106.219.108/report/mls/1/drp?action=pdf&agg_type=MONTHLY&f_id=1000&loc_type=4&loc_id=51510&time_period=201502

News for Alexandria, VA - October 27th, 2014 8:09am
Alexandria City: Detached Home Price average: $869,223 = 15.11 % increase YOY, Alexandria City: Attached = Town Home Price average: $ 432,707 = 0.37 % increase YOY, Alexandria City: Condo Price average:$ 326,497 = 1.78 % decrease YOY PLEASE KNOW there is Alexandria City / close to DC and Alexandria in Fairfax County going further out west / away from DC. Home Prices there are a lot cheaper and homes are newer. Please copy and paste link below in your browser to see detailed report for Alexandria City /prepared 10/2014
http://184.106.219.108/report/mls/1/drp?action=pdf&agg_type=MONTHLY&f_id=1000&loc_type=4&loc_id=51510&time_period=201409
National Market Conditions
2017 2nd Quarter Market Report: Home Sales Stall but Prices Rise

The 2nd quarter of 2017 ended on a down note with pending home sales dropping for three straight months. However home prices continue to rise at a rapid pace with median home prices up 6.2% year over year. The primary reason for the slow-down in sales is the limited number of homes for sale, higher prices and less buyers being able to afford to buy a home.

The most notable change in the 2nd quarter was how fast the homes were selling. Our survey showed that in 70% of the markets surveyed homes sold in under 60 days compared to 53% in 2nd quarter 2016, resulting in a whopping 17% increase. Additionally we found that 84% of the markets reported a tight to very tight supply of homes compared to 66% last year...another whopping 18% increase. The tight supply of inventory is causing homes prices to rise with 91% of all markets surveyed reported price appreciation. 34% of the markets reported appreciation over 5% and another 27% reported appreciation in excess of 10%.

According the National association of Realtors (NAR) existing home prices were up 6.2% over last year. The inventory of unsold homes is at a 4.6 month supply and 54% of all homes were sold in under one month. Still home sales dropped overall due to the low inventory of homes for sale.

The data in this report is generated primarily from our survey of HouseHunt.com exclusive member real estate agents across the United States. This grass roots approach to studying the housing market gives us a thorough look at where the real estate market is through the eyes and perspective of the local real estate agents who are living and working in the trenches of each community.

Buyer and Seller Activity
The trend in buyer activity is significantly higher than seller activity. Our Realtors reported increasing buyer activity in 89% of the markets - up 15% from last quarter and 5% over last year. However seller activity increased in only 49% of the markets - down 9% from last year and up 5% over last quarter.

...Read Full Article
Fall 2017 Market Update
If you can qualify for a mortgage, now is a great time to buy a home in Alexandria. Interest rates are still low which makes a home purchase a great opportunity especially when considering the tax advantage a home owner might have. Interest rates are supposed to rise in 2016. Financing is still tight, best rates are available with a credit score of 740+. Why rent when you can buy for similar monthly payments? Call the local real estate expert Martina Burns now for more information at 703-650-8533 or toll free at 866-361-6655
Average Sold Home Price: $750,000

Average Time on Market: 30-60 days

Best Selling Price Range: $700,000 - $749,000

Existing Home Prices for the past 90 days: Decreasing

Market Trend: Decreasing

Buyer's or Seller's Market: More sellers than buyers

Buyer Activity for the past 90 days: Increasing

Seller Activity for the past 90 days: Decreasing

Multiple Offers? Yes

Multiple Offers Commentary: Homes in prime location selling within < 10 days on market but only for most up-dated, mint, move-in condition homes, preferably close to public transportation = Metro

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? 0-5%

Is Financing Available For Qualified Buyers? Yes

Housing Inventory: Limited Supply

Housing Inventory Comments: 06/2016 Market Statistic Data from MRIS = Metropolitan Regional Information System - Alexandria City: average detached = single family home sold price: $ 755,143 = -15.81 % decrease YOY = Year Over Year. Alexandria City: average attached home = town home sold price; $ 457,616 = -1.65 % decrease YOY. Alexandria City: average condo sold price: $ 333,854 = -1.19 % decrease. Days on Market: 32 vs. 42 a year ago = -23.81 % decrease. Average Sold Price to Original List Price: 97.8 % vs. 97.8 a year ago = +0.04 % increase. Most homes sold in less than 10 days on market. 25 cash buyers, 178 conventional loans, 22 FHA loans, 41 VA loans. Inventory: 490 active listings vs. 576 a year ago = -14.93 % decrease. Pendings = Properties Under Contract: 345 vs. 328 = +5.18 % increase. PLEASE KNOW there is Alexandria City / close to DC and Alexandria in Fairfax County going further out west / away from DC. Home Prices there are a lot cheaper and homes are newer. http://184.106.219.108/report/mls/1/drp?action=pdf&uid=14064744124996&sid=9c6000a7-c4c8-53f9-762b-53d518e73562&agg_type=MONTHLY&f_id=1000&loc_type=4&loc_id=51510&time_period=201606 $$ numbers below are for Single Family Homes, min. 4 bedroom, the graphs on the website include town homes and condos as well

Greatest Activity: Repeat Buyers

Best reason to buy or sell: Good economic news

Nearest Metro Area: Washington DC

Housing Hot Spots: Most cities within the Northern Virginia area are considered �Housing Hotspots�, within a 30 mile radius to DC.

Average Sold Home Price: $750,000

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703-650-8533
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Real Estate Professional, Martina Burns  RE/MAX Martina Burns RE/MAX
RE/MAX Allegiance
Specializing in Alexandria Real Estate
6084-A Franconia Road
Alexandria, Virginia 22310
703-650-8533
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(Because current market conditions can change rapidly in any given marketplace,
please check with Martina Burns RE/MAX for current Alexandria, VA market conditions before acting on this information.)
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