The Long & Foster Market Minute

Focus On: Alexandria City Housing Market May 2020

Units Sold
164
Active Inventory
175
Median Sale Price
$566,950
Days On Market
17
Down
Vs. Year Ago
Down -25%
Vs. Year Ago
Up 11%
Vs. Year Ago
Up 31%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in May, with 164 sold this month in Alexandria City Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 59 units or 25%. The total number of active inventory this May was 175 compared to 234 in May 2019. This month's total of 175 is lower than the previous month's total supply of available inventory of 206, a decrease of 15%.

Median Sale Price
Last May, the median sale price for Alexandria City Homes was $512,000. This May, the median sale price was $566,950, an increase of 11% or $54,950 compared to last year. The current median sold price is 6% lower than in April.

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


New Listings
231
Current Contracts
231
Sold Vs. List Price
99.6%
Months of Supply
1.1
Down -25%
Vs. Year Ago
Down -6%
Vs. Year Ago
Down -0.8%
Vs. Year Ago
Up 30%
Vs. Year Ago

Months of Supply
In May, there was 1.1 months of supply available in Alexandria City, compared to 0.8 in May 2019. That is an increase of 31% 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 231 homes newly listed for sale in Alexandria City compared to 309 in May 2019, a decrease of 25%. There were 231 current contracts pending sale this May compared to 245 a year ago. The number of current contracts is 6% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Alexandria City was 99.6% of the average list price, which is 0.8% lower than at this time last year.

Days on Market
This month, the average number of days on market was 17, higher than the average last year, which was 13, an increase of 31%.

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.