The Long & Foster Market Minute

Focus On: Alexandria City Housing Market October 2018

Units Sold
213
Active Inventory
434
Median Sale Price
$537,500
Days On Market
51
Down -3%
Vs. Year Ago
Down -15%
Vs. Year Ago
Up 22%
Vs. Year Ago
Down -18%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 213 sold this month in Alexandria City Real Estate versus 199 last month, an increase of 7%. This month's total units sold was lower than at this time last year, a decrease of 3% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 76 units or 15%. The total number of active inventory this October was 434 compared to 510 in October 2017. This month's total of 434 is lower than the previous month's total supply of available inventory of 473, a decrease of 8%.

Median Sale Price
Last October, the median sale price for Alexandria City Homes was $440,000. This October, the median sale price was $537,500, an increase of 22% or $97,500 compared to last year. The current median sold price is 4% higher than in September.

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


New Listings
278
Current Contracts
229
Sold Vs. List Price
99.0%
Months of Supply
2.0
Down -5%
Vs. Year Ago
Up 7%
Vs. Year Ago
No Change
Vs. Year Ago
Down -12%
Vs. Year Ago

Months of Supply
In October, there was 2.0 months of supply available in Alexandria City, compared to 2.3 in October 2017. That is a decrease of 13% 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 278 homes newly listed for sale in Alexandria City compared to 292 in October 2017, a decrease of 5%. There were 229 current contracts pending sale this October compared to 215 a year ago. The number of current contracts is 7% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Alexandria City was 99.0% 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 51, lower than the average last year, which was 62, a decrease of 18%.

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.