As of today, October 2, 2008, there are 354 condos on the market in Alexandria, Virginia (16% less than the 417 on the market this time last year). This represents almost exactly 50% of the inventory of homes currently available in the City of Alexandria. During the month of September, 56 Alexandria condos sold.
Over the first 3 quarters of 2008, 542 condos sold in Alexandria, or just over 60/month on average. These sales numbes are significantly down from last year which saw an average condo sales rate of 90/month in Alexandria.
Based on the September rate of sales, there is a 6.3 month supply of condos in Alexandria, a relatively balanced market.
The chart below shows the inventory of condos at the 8 communities with the most current inventory on the market in Alexandria:
Here are the current average prices in Alexandria:
1 BR Condos -- 113 available, average price $245,226 (average Oct. 2007 price -- $259,455)
2 BR Condos -- 183 available, average price $334,374 (average Oct. 2007 price -- $341,770)
3 BR Condos -- 47 available, average price $348,737 (average Oct. 2007 price -- $387,084)
Click here to SEARCH FOR A CONDO IN ALEXANDRIA
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Brian, I received a call a few weeks ago requesting information on Condo's in Springfield. Not as popular here. Many elderly stay in smaller homes or pay to have their yards mowed. Nice to see the numbers.
The condos there in Atlanta are next to impossible to give away. In DC area they are a smarter way of life for the busy executive.