The Long & Foster Market Minute

Focus On: Alexandria City Housing Market February 2019

Units Sold
176
Active Inventory
167
Median Sale Price
$522,500
Days On Market
42
Up 4%
Vs. Year Ago
Down -51%
Vs. Year Ago
Down -7%
Vs. Year Ago
Down -13%
Vs. Year Ago

Units Sold
There was an increase in total units sold in February, with 176 sold this month in Alexandria City Real Estate versus 150 last month, an increase of 17%. This month's total units sold was higher than at this time last year, an increase of 4% versus February 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 175 units or 51%. The total number of active inventory this February was 167 compared to 342 in February 2018. This month's total of 167 is lower than the previous month's total supply of available inventory of 194, a decrease of 14%.

Median Sale Price
Last February, the median sale price for Alexandria City Homes was $559,500. This February, the median sale price was $522,500, a decrease of 7% or $37,000 compared to last year. The current median sold price is 16% higher than in January.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
212
Current Contracts
204
Sold Vs. List Price
99.4%
Months of Supply
0.9
Down -26%
Vs. Year Ago
Down -10%
Vs. Year Ago
No Change
Vs. Year Ago
Down -53%
Vs. Year Ago

Months of Supply
In February, there was 0.9 months of supply available in Alexandria City, compared to 2.0 in February 2018. That is a decrease of 53% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 212 homes newly listed for sale in Alexandria City compared to 288 in February 2018, a decrease of 26%. There were 204 current contracts pending sale this February compared to 226 a year ago. The number of current contracts is 10% lower than last February.

Sale Price to List Price Ratio
In February, the average sale price in Alexandria City was 99.4% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 42, lower than the average last year, which was 48, a decrease of 13%.

The Long & Foster Market Minute
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.