How competitive is the Alexandria housing market?

The Alexandria housing market shows some signs of competition, but also areas where buyers might find opportunities. Homes are selling faster than last year, and fewer are available overall. The median listing price right now is $225,000, which is a small increase of 1.8% from the previous month. However, it's 5.5% lower than what it was one year ago. The average listing price also decreased by 7.2% over the past year, suggesting prices have softened a bit. There are 315 homes actively listed for sale, which is 9.5% fewer than a year ago. This means there's less choice for buyers. At the same time, the median time a home stays on the market is 69 days, which is 9.5% quicker than last year, showing homes are moving faster. About 20.2% of homes have had a price reduction, a slight increase from last year. This means that roughly one out of five homes has dropped its price, giving buyers a chance to find a deal. For potential buyers, the market has fewer homes available, and they are selling faster. However, the drop in overall listing prices from last year and the number of price reductions could offer opportunities to find a good value.