Is Alexandria, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Alexandria is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Alexandria has remained a Seller's Market.

Key Takeaway

Alexandria is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Alexandria, VA

How much do homes in Alexandria, VA cost?

Median Sold Price

$624,768

$367/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$43,145(+7.4%)

Key Takeaway

Homes in Alexandria have sold for 7.4% more than they did a year ago.

Summary: The median home sold price in Alexandria was $624,768 in February 2024, up 7.4% from last year, and the median price per square foot was $367.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $272.5K$289.9K
+6.4%
2 $421.6K$434.9K
+3.1%
3 $749.8K$679.6K
-9.4%
4 $870K$805.1K
-7.5%
5+ $1.3M$1.0M
-16.9%

Summary: Alexandria housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.4%, 2 bedroom homes increased by 3.1%, 3 bedroom homes decreased by 9.4%, 4 bedroom homes decreased by 7.5%, and 5+ bedroom homes decreased by 16.9%.

Median Sold Price Compared To Nearby Cities

Alexandria
+7.4%
Alexandria
+4.3%
Mason
+3.2%
Lee
+1.3%
Washington
0.1%

Housing Supply in Alexandria, VA

How many homes are available in Alexandria, VA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1,2071,342+11.2%

Summary: The Alexandria real estate market had 1,342 homes for sale in February 2024, a 11.2% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 142152
+7.0%
2 325363
+11.7%
3 350397
+13.4%
4 218247
+13.3%
5+ 172183
+6.4%

Summary: The Alexandria housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7%, 2 bedroom homes increased by 11.7%, 3 bedroom homes increased by 13.4%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 6.4%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
229259+13.1%

Asking Price vs. Sold Price

76 Homes Were Sold
Under Asking

66 Homes Were Sold
At Asking

117 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Alexandria, you could pay more than the asking price. 45.2% of homes here sold above asking price last month.

Summary: A total of 259 homes were sold or pending in Alexandria in February 2024, up by 13.1% month-over-month. Of the 259 sold homes, 29% were sold under asking, 25% were sold at asking, and 45% were sold over asking.

Days on Market for Alexandria, VA

How long does it take to sell a home in Alexandria, VA?

Average Sale Time

Feb 2023Feb 2024CHANGE
31 Days20 Days-32.9%

Summary: Homes in Alexandria had an average of 20 days on market in Feb 2024, down by 32.9% compared to last year.

Breakdown of Home Sale Times

208 Homes Were Sold
Under 30 Days

39 Homes Were Sold
In 30 - 90 Days

12 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Alexandria are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 259 homes were sold in Alexandria; 80% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 3 Days Ago

Newest Listings in Alexandria, VA

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