Local Spotlight: How Hot is Alexandria Real Estate?

If you have been thinking about selling your home this year, you’re probably already aware that throughout our region, it’s a hot sellers’ market! Here at D.C. Region Real Estate News, we give you a monthly rundown of the numbers so you can keep track of the market from Prince William and Fairfax to Montgomery and Prince Georges counties, as well as D.C. But today we wanted to take an even closer look, so we decided drill down on the numbers in Alexandria City and add some historical context.

In 2020, the average Alexandria sale price was 13.5 percent higher than in 2019, according to MarketStats by ShowingTime, which uses data from Bright MLS. That alone is a good indication that the market’s moving up. But get this: The average Alexandria sale price of $664,881 last year was a whopping 31.5 percent higher than in 2006 at the height of the real estate boom.

But what does that really mean for homeowners in Alexandria? How long will this trend continue? Should you sell?

We can’t answer how long this will last—and no one really knows—but we can tell you where we are and how we’ve gotten here over the past several years.

For Alexandria homeowners, these upward trends are a welcome sight. In fact, 10 out of the past 11 years have resulted in higher average sale prices than the previous year. Before that, it was kind of rough going for sellers looking for a return on their home investments in the mid-2000s.

Though now about 15 years ago, it doesn’t seem that long ago. We were at the end of a surge that had Alexandria average home prices peak at $505,503 in 2006. In 2007, prices eased back about a half percent. The following year, average sale prices dropped an ominous 6.66 percent, and in 2009 they dropped an additional 8.67 percent, bottoming out at $428,538.

Continue reading here.

Christopher Prawdzik and his wife Angela Logomasini are licensed Realtors® with Samson Properties in Alexandria and are members of the Northern Virginia Association of Realtors® Top Producer’s Club. Operating as D.C. Region Real Estate, they serve the Virginia, Washington, D.C., and Maryland real estate market and offer comprehensive real estate services, including 4½% full-service listings.

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