The Long & Foster Market Minute

Focus On: Alexandria City Housing Market April 2018

Units Sold
233
Active Inventory
486
Median Sale Price
$539,900
Days On Market
22
Down -7%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -19%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in April, with 233 sold this month in Alexandria City Real Estate versus 258 last month, a decrease of 10%. This month's total units sold was lower than at this time last year, a decrease of 7% versus April 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 58 units or 11%. The total number of active inventory this April was 486 compared to 544 in April 2017. This month's total of 486 is higher than the previous month's total supply of available inventory of 428, an increase of 14%.

Median Sale Price
Last April, the median sale price for Alexandria City Homes was $510,000. This April, the median sale price was $539,900, an increase of 6% or $29,900 compared to last year. The current median sold price is 17% higher than in March.

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


New Listings
428
Current Contracts
302
Sold Vs. List Price
99.5%
Months of Supply
2.1
Up 15%
Vs. Year Ago
Up 7%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In April, there was 2.1 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.

New Listings & Current Contracts
This month there were 428 homes newly listed for sale in Alexandria City compared to 372 in April 2017, an increase of 15%. There were 302 current contracts pending sale this April compared to 283 a year ago. The number of current contracts is 7% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Alexandria City was 99.5% 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 22, lower than the average last year, which was 27, a decrease of 19%.

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.