Real estate, like any other market, is all about supply and demand.
SUPPLY: As of February 11, 2010, there are about 425 homes on the market in Alexandria, Virginia.
DEMAND: In the last 30 days, 101 homes sold in the City of Alexandria. January and early February are traditionally very slow times for the Northern Virginia real estate market. At this pace, there'd be a 4.2 month inventory of homes on the market. That's not a lot of inventory! However, I expect that the warmer Spring days will usher in a somewhat heated up real estate market with both more inventory on the market and more sales volume.
Here are the details about the housing inventory in Alexandria -- if you're thinking about buying a home in Alexandria or elsewhere in Northern Virginia, you might want to whisper to your sweetheart this Valentine's Day that he/she ought to read this blog.
63 Single Family Homes are on the market in Alexandria at an average price of $1,030,322. The prices range from $399,900 up to $4,450,000. There are 19 homes priced at one million dollars or more. However, there are over 20 Alexandria single family homes priced below $700,000.
The largest concentration of homes are in the following Alexandria neighborhoods:
Beverly Hills -- 4 homes available -- Average price $914,950
Braddock Heights -- 5 homes available -- Average price $833,560
Old Town -- 5 homes available -- Average price $1,834,980
Rosemont -- 4 homes available -- Average price $1,229,725
Seminary Ridge -- 4 homes available -- Average price $1,117,250
Alexandria Virginia Townhouses
136 Townhouses are on the market in Alexandria at an average listing price of $902,458. The range in prices for Alexandria townhouses is between $239,000 and $5.7 million.
The highest concentration of townhouses are in the following Alexandria communities:
Cameron Station -- 6 townhouses -- Average price $674,067
Fords Landing -- 5 townhouses -- Average price $1,842,600
Old Town -- 35 townhouses -- Average price $1,430,518 (note that this number is skewed a bit because of a townhouse on the market for $5.7 million and another for $5 million. Without these two homes, the average price in Old Town is $1,194,489 -- over $236K less).
Parkfairfax -- 6 townhouses -- Average Price $315,132
Potomac Greens -- 6 townhouses -- Average price $864,917
Over 200 condos are on the market in Alexandria:
93 Garden Style condos (1-4 floors) at an Average price of $345,069
30 Mid-Rise condos (5-8 floors) at an Average price of $315,078
80 High-Rise condos (9+ floors) at an Average price of $256,675
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