The Long & Foster Market Minute

Focus On: Alexandria City Housing Market March 2019

Units Sold
194
Active Inventory
181
Median Sale Price
$568,500
Days On Market
31
Down -25%
Vs. Year Ago
Down -53%
Vs. Year Ago
Up 23%
Vs. Year Ago
Down -11%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 194 sold this month in Alexandria City Real Estate versus 178 last month, an increase of 9%. This month's total units sold was lower than at this time last year, a decrease of 25% versus March 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 204 units or 53%. The total number of active inventory this March was 181 compared to 385 in March 2018. This month's total of 181 is higher than the previous month's total supply of available inventory of 168, an increase of 8%.

Median Sale Price
Last March, the median sale price for Alexandria City Homes was $461,000. This March, the median sale price was $568,500, an increase of 23% or $107,500 compared to last year. The current median sold price is 11% higher than in February.

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


New Listings
306
Current Contracts
249
Sold Vs. List Price
100.1%
Months of Supply
0.9
Down -15%
Vs. Year Ago
Down -7%
Vs. Year Ago
Up 1%
Vs. Year Ago
Down -38%
Vs. Year Ago

Months of Supply
In March, there was 0.9 months of supply available in Alexandria City, compared to 1.5 in March 2018. That is a decrease of 37% 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 306 homes newly listed for sale in Alexandria City compared to 361 in March 2018, a decrease of 15%. There were 249 current contracts pending sale this March compared to 267 a year ago. The number of current contracts is 7% lower than last March.

Sale Price to List Price Ratio
In March, the average sale price in Alexandria City was 100.1% of the average list price, which is 1.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 31, lower than the average last year, which was 35, a decrease of 11%.

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.