Old Town Alexandria 22314 Year End Market Report

Old Town Alexandria 22314 Year End Market Report

It was an interesting ride this year in the OLD TOWN ALEXANDRIA real estate market. As you can see from the chart below, it was a time of highs and lows, although not unlike years past in the pattern of when sales occurred.

After a relatively slow start in January in terms of settlements (not surprisingly, again, because these were the properties that more than likely went under contract during the December holidays), settlements jumped up in February, fell in March, only to rebound and stay steady through the summer months before declining to the lowest point of the year in September.

Anyone familiar with the DC metro market knows August is a pretty dead time of the year for us here in the OLD TOWN ALEXANDRIA real estate market, so the September numbers weren't much of a surprise. And, as is typical, Autumn saw another rebound, with the number of sold properties continuing to increase through the rest of the year.

The information below should be of particular interest to Sellers, because it shows that when listings come on the market, sales go up - the more inventory that comes on the market, the more sales. Although it sounds simple enough, what it is saying is we do have ready, willing and able Buyers in our market. What we don't have is enough inventory. If you are interested in selling, it may be a good time to consider it. Buyers are waiting for new listings, because there is not a lot to show them right now.