The Long & Foster Market Minute

Focus On: Alexandria City Housing Market September 2021

Units Sold
232
Active Inventory
377
Median Sale Price
$542,800
Days On Market
24
Down -16%
Vs. Year Ago
Up 22%
Vs. Year Ago
Up 2%
Vs. Year Ago
Up 60%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 232 sold this month in Alexandria City Real Estate versus 269 last month, a decrease of 14%. This month's total units sold was lower than at this time last year, a decrease of 16% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is higher by 69 units or 22%. The total number of active inventory this September was 377 compared to 308 in September 2020. This month's total of 377 is higher than the previous month's total supply of available inventory of 337, an increase of 12%.

Median Sale Price
Last September, the median sale price for Alexandria City Homes was $530,000. This September, the median sale price was $542,800, an increase of 2% or $12,800 compared to last year. The current median sold price is 8% lower than in August.

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


New Listings
384
Current Contracts
255
Sold Vs. List Price
99.4%
Months of Supply
1.6
Up 5%
Vs. Year Ago
Down -7%
Vs. Year Ago
No Change
Vs. Year Ago
Up 46%
Vs. Year Ago

Months of Supply
In September, there was 1.6 months of supply available in Alexandria City, compared to 1.1 in September 2020. That is an increase of 45% 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 384 homes newly listed for sale in Alexandria City compared to 366 in September 2020, an increase of 5%. There were 255 current contracts pending sale this September compared to 274 a year ago. The number of current contracts is 7% lower than last September.

Sale Price to List Price Ratio
In September, the average sale price in Alexandria City was 99.4% 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 24, higher than the average last year, which was 15, an increase of 60%.

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.