Old Town Alexandria 22314 October 2013 Market Report
After a robust Old Town real estate market in September, how did October's numbers stack up? As you can see from the chart below, total sales volume was up significantly over October 2012, but down over September of this year. And the average sold to list price ratio slipped more than 1% over last month while average days on market went up almost 9%, No doubt we did see a little bit of a fall slowdown in October, although the Old Town Alexandria real estate market reimains strong.
Will the slowdown continue through the holiday months? Time will tell. There are buyers out there, however, they are taking their time and not settling for less than what they want.
For Old Town Alexandria home sellers, it continues to be important to price your property right and make sure it appeals to a wide array of buyers.
STATISTICS VALUES YEAR OVER YEAR MONTH OVER MONTH
|Total Sold Dollar Volume||$29,713,900||+27.31%||-12.11%|
|Median Sold Price||$555,500||+2.89%||+0.14%|
|Avg Sold Price||$594,278||-8.34%||-5.08%|
|Avg Days on Market||49 days||+32.43%||+8.89%|
|Avg Sold to Orig List Ratio||96.48%||-0.86%||-1.01%|
While average days on market in October is up over last month and last year, when you look at the 5 year average of 60 days on market, the October average of 49 days is an improvement. The lowest average days on market this year was 27 days back in June in 2013. The spring and summer markets in Old Town Alexandria were undeniably robust.
Over the past 5 years the average sale to original list price ratio has averaged 96.0%, while the average in October was 96.5%. The average sale to list price ratio peaked this year in March at 98.7%.
What about average sales price? The 5 year average in Old Town Alexandria 22314 is $601,820 while the October average was $594,278. The average varies, of course, depending on the price point of the inventory at any given time - and there is a wide range of list prices in Old Town Alexandria - but over the past 5 years, the average sales price has remained fairly steady.
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