The Long & Foster Market Minute

Focus On: Alexandria City Housing Market July 2019

Units Sold
235
Active Inventory
195
Median Sale Price
$490,000
Days On Market
20
Down -18%
Vs. Year Ago
Down -58%
Vs. Year Ago
Down -11%
Vs. Year Ago
Down -35%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in July, with 235 sold this month in Alexandria City Real Estate versus 252 last month, a decrease of 7%. This month's total units sold was lower than at this time last year, a decrease of 18% versus July 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 267 units or 58%. The total number of active inventory this July was 195 compared to 462 in July 2018. This month's total of 195 is lower than the previous month's total supply of available inventory of 239, a decrease of 18%.

Median Sale Price
Last July, the median sale price for Alexandria City Homes was $548,000. This July, the median sale price was $490,000, a decrease of 11% or $58,000 compared to last year. The current median sold price is 6% lower than in June.

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


New Listings
247
Current Contracts
225
Sold Vs. List Price
100.3%
Months of Supply
0.8
Down -11%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 1.6%
Vs. Year Ago
Down -49%
Vs. Year Ago

Months of Supply
In July, there was 0.8 months of supply available in Alexandria City, compared to 1.6 in July 2018. That is a decrease of 49% 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 247 homes newly listed for sale in Alexandria City compared to 278 in July 2018, a decrease of 11%. There were 225 current contracts pending sale this July compared to 236 a year ago. The number of current contracts is 5% lower than last July.

Sale Price to List Price Ratio
In July, the average sale price in Alexandria City was 100.3% of the average list price, which is 1.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 20, lower than the average last year, which was 31, a decrease of 35%.

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.