The Long & Foster Market Minute

Focus On: Alexandria City Housing Market October 2022

Units Sold
159
Active Inventory
261
Median Sale Price
$699,000
Days On Market
25
Down
Vs. Year Ago
Down -28%
Vs. Year Ago
Up 14%
Vs. Year Ago
Up 25%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 159 sold this month in Alexandria City Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 103 units or 28%. The total number of active inventory this October was 261 compared to 364 in October 2021. This month's total of 261 is lower than the previous month's total supply of available inventory of 285, a decrease of 8%.

Median Sale Price
Last October, the median sale price for Alexandria City Homes was $612,500. This October, the median sale price was $699,000, an increase of $86,500 compared to last year. The current median sold price is 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
187
Current Contracts
154
Sold Vs. List Price
99.3%
Months of Supply
1.6
Down -38%
Vs. Year Ago
Down -42%
Vs. Year Ago
Down -1.2%
Vs. Year Ago
Up 11%
Vs. Year Ago

Months of Supply
In October, there was 1.6 months of supply available in Alexandria City, compared to 1.5 in October 2021. That is an increase of 11% 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 187 homes newly listed for sale in Alexandria City compared to 301 in October 2021, a decrease of 38%. There were 154 current contracts pending sale this October compared to 267 a year ago. The number of current contracts is 42% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Alexandria City was 99.3% of the average list price, which is 1.2% lower than at this time last year.

Days on Market
This month, the average number of days on market was 25, higher than the average last year, which was 20, an increase of 25%.

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.