Real Estate of Northern Virginia Report - Nov 2020 - Alexandria - Michele Hudnall

Detached homes are outpacing the overall Alexandria City 2019 Year-over-Year (YoY) market in value illustrating demand and competition. Townhomes are following close behind in value.

Values are flattening due to dips in Active and New listing giving inventory an ever so slight nudge for the holiday season driven by Condominiums. My opinion that the Condominium market may be reaching a point of saturation continues to hold true. I believe this due to the rise in New listings, decline in sales and cooling of speed to sell, rise in concessions and decrease in list to sale ratio.

The overall end of month inventory is rising increasing the Month's Supply of Inventory to 2 months driven by the condominiums. Detached and Townhomes remain very competitive with flat to rising values. The Alexandria City market is peaking with condominiums and throttled by active listings for detached and townhome structures.

Sales have topped YTD 2019 and continue to rise. So while homeowners may be taking their equity to put it to a larger use, the city remains a desireable location to others.

Read / View More Here: https://realestateofnva.blogspot.com/2019/12/nov-2020-mkt-rpt-alexandria.html

Read / View Full Report Here:
https://realestateofnva.blogspot.com/2020/12/RealEstateOfNVA-market-report-nov.html

Consider me a resource as I am here for you anytime to provide a personalized market analysis for you because I believe information is vital in making decisions regarding your home.

Let me know how I can help you!

Michele Hudnall
Market Strategy Mentor

[email protected] | 703.867.3436
Schedule time at: calendly.com/mhudnall
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