The Long & Foster Market Minute

Focus On: Alexandria City Housing Market November 2017

Units Sold
214
Active Inventory
504
Median Sale Price
$521,600
Days On Market
36
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 6%
Vs. Year Ago
Up 7%
Vs. Year Ago
Up 4%
Vs. Year Ago
No Change
Vs. Year Ago

Units Sold
There was a decrease in total units sold in November, with 214 sold this month in Alexandria City Real Estate versus 220 last month, a decrease of 3%. This month's total units sold was higher than at this time last year, an increase of 6% versus November 2016.

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Active Inventory
Versus last year, the total number of homes available this month is higher by 32 units or 7%. The total number of active inventory this November was 504 compared to 472 in November 2016. This month's total of 504 is lower than the previous month's total supply of available inventory of 556, a decrease of 9%.

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Median Sale Price
Last November, the median sale price for Alexandria City Homes was $502,000. This November, the median sale price was $521,600, an increase of 4% or $19,600 compared to last year. The current median sold price is 17% higher than in October.

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

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New Listings
223
Current Contracts
188
Sold Vs. List Price
99.0%
Months of Supply
2.4
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 5%
Vs. Year Ago
Down -1%
Vs. Year Ago
Up 0.5%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In November, there was 2.4 months of supply available in Alexandria City. The amount of supply is similar compared to 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.

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New Listings & Current Contracts
This month there were 223 homes newly listed for sale in Alexandria City compared to 212 in November 2016, an increase of 5%. There were 188 current contracts pending sale this November compared to 189 a year ago. The number of current contracts is 1% lower than last November.

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Sale Price to List Price Ratio
In November, the average sale price in Alexandria City was 99.0% of the average list price, which is 0.5% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 36, which is similar compared to a year ago.

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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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.