The real estate trend in Alexandria’s 22341 zip code for July 2009 is about stability and fewer days on the market. Zip code 22314 embraces all of Old Town Alexandria, moves north up the GW Parkway to take in Potomac Greens and west on King Street past the Masonic Temple.
What we are seeing in July 2009 is the same number of sales as in July 2008 but with a decrease in the average number of days on the market from 105 in 2008 to 87 in 2009.
On the other hand, the average sales price in July 2008 was $1,026,178 while the average for July 2009 was $673,892. As alarming as this may seem at first glance, it is worth nothing that in July 2008 there was one property that sold for over $4 million, two that sold for over $2 million and three that sold for over $1 million. By contrast, in 2009, there were only three properties that tipped the $1 million mark.
The fact that the number of sales has remained steady while the number of days on the market has decreased is just another sign that the housing market is regaining its footing and adjusting appropriately.
If you want to know more about opportunities in the 22314 market, give me a call at 703.927.4554.