The number of homes for sale across Northern Virginia remains low, and competition for those houses among buyers is heating up with the spring temperatures.
Realtors are reporting an increase in the number of investors from out of the area inquiring about Arlington (because of the arrival of Amazon’s HQ2), according to the Northern Virginia Association of Realtors. Some of that demand may be spilling over into Alexandria, particularly in the Del Ray and Potomac Yard areas.
Across Northern Virginia, there were fewer homes newly listed for sale in February compared to the same time last year, but the number of homes that sold increased.
“This is exacerbating an already tight market in terms of inventory,” said Northern Virginia Association of Realtors President Christine Richardson. “Despite that, average sales prices across the region were only up by 2.62 percent. I have to believe that we are going to see larger increases in average sales price as we move through the Spring Market,” she said.
In Alexandria, the average price of a home was $558,889 in February. There are fewer than 300 homes listed on the public market in the Alexandria area, according to Bright MLS. The most expensive of those is a $6.9 million historic home at 607 Oronoco St.
In Fairfax County, the average price of a home was $553,457 in February. The most expensive home on the public market in the Alexandria section of Fairfax County is listed for $5.45 million at 7615 Southdown Rd. in the Fort Hunt area along the Potomac River.
