Is Alexandria, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$641,432
$372/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Alexandria have sold for 6.9% more than they did a year ago.
Summary: The median home sold price in Alexandria was $641,432 in April 2024, up 6.9% from last year, and the median price per square foot was $372.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $269.5K | $290.2K | +7.7% |
| 2 Bedrooms | $409.1K | $439.7K | +7.5% |
| 3 Bedrooms | $660.8K | $685K | +3.7% |
| 4 Bedrooms | $785K | $817.1K | +4.1% |
| 5+ Bedrooms | $1.0M | $1.0M | 0.0% |
Summary: Alexandria housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.7%, 2 bedroom homes increased by 7.5%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Alexandria | $597.2K | $640K | +7.2% |
| Alexandria | $600K | $641.4K | +6.9% |
| Mason | $637.2K | $675K | +5.9% |
| Lee | $575K | $594.5K | +3.4% |
| Mount Vernon | $651.6K | $669.5K | +2.7% |
Housing Supply in Alexandria, VA
How many homes are available in Alexandria, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 847 | 1,079 | +27.4% |
Summary: The Alexandria real estate market had 1,079 homes for sale in April 2024, a 27.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 105 | 138 | +31.4% |
| 2 Bedrooms | 225 | 251 | +11.6% |
| 3 Bedrooms | 260 | 348 | +33.8% |
| 4 Bedrooms | 160 | 211 | +31.9% |
| 5+ Bedrooms | 97 | 131 | +35.1% |
Summary: The Alexandria housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 31.4%, 2 bedroom homes increased by 11.6%, 3 bedroom homes increased by 33.8%, 4 bedroom homes increased by 31.9%, and 5+ bedroom homes increased by 35.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 311 | 323 | +3.9% |
Asking Price vs. Sold Price
56 Homes Were Sold
Under Asking
83 Homes Were Sold
At Asking
184 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Alexandria, you could pay more than the asking price. 57% of homes here sold above asking price last month.
Summary: A total of 323 homes were sold or pending in Alexandria in April 2024, up by 3.9% month-over-month. Of the 323 sold homes, 17% were sold under asking, 26% were sold at asking, and 57% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 17 Days | 12 Days | -31.8% |
Summary: Homes in Alexandria had an average of 12 days on market in Apr 2024, down by 31.8% compared to last year.
Breakdown of Home Sale Times
292 Homes Were Sold
Under 30 Days
24 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Alexandria are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 323 homes were sold in Alexandria; 90% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
