The number of homes for sale in the Alexandria area is starting to rise, slowly, according to recent real estate data, which could be good news for buyers.
2020 was very much a seller’s market in Northern Virginia, with few homes for sale and low mortgage interest rates.
“Historically low interest rates helped to fuel the 2020 seller’s market, driving prices up throughout the region as buyers competed for available listings. The 2020 average home price in the NVAR footprint, which covers Fairfax and Arlington counties, the cities of Alexandria, Fairfax and Falls Church, was $670,408, up 9 percent above the 2019 average. The 2020 median sales price also rose by 9 percent, from $541,000 in 2019 to $590,000,” according to the Northern Virginia Association of Realtors.
So far in 2021, homes are still moving very quickly with high interest from buyers, and many sellers are evaluating multiple offers for their home. Interest in single family homes and townhomes seems to be higher than in condos, which are taking just a little bit longer to sell.
Bethany Stalder, with Fidelis Property Group at Keller Williams Metro Center in Alexandria, digs into the details with the Alexandria Market Scoop.
