In what we are seeing in almost all areas of Alexandria, home sales in 2009 are up over 2008 sales but prices are down. This snapshot of Alexandria zip code 22314 – which includes Old Town Alexandria – shows an increase in sales from 25 listings in March 08 to 36 listings in March 09.
The average list price decreased by 16% while the the average sold price declined by 14%. Of those 36 listings however, 10 sold for the list price or higher, reinforcing the effectiveness of a properly priced listing.
It’s a hard reality, but the market is adjusting itself to the skyrocketing prices that we all knew 10 years ago. The good news? It’s a great market for first time buyers, especially with consistently low interest rates and first time buyer tax credits.
Please note that the listings below include condominiums as well as townhouses and single family homes.
Want to know more about properties in Alexandria? Give me a call at 703.927.4554.