How competitive is the Alexandria housing market?

The Alexandria housing market is showing signs of cooling down right now. While homes are selling fairly quickly, prices have been falling, and fewer homes are going under contract. The median price for a home listed in Alexandria is $427,000. This price has dropped by 5.1% in the most recent month and by 13.7% over the past year. This means homes are, on average, less expensive than they were before. Homes are staying on the market for an average of 57 days before finding a buyer. This is a bit faster than last year, when homes took 13.4% longer to sell. However, fewer homes are going pending compared to last year, with the pending ratio down by 32.6%. There are 159 active listings available, which is about the same as last year. The number of brand new listings has gone up by 11.1% over the past year, meaning more options are becoming available for buyers. About 21.7% of homes have had their prices lowered. This percentage is a little higher than it was last year, suggesting sellers are adjusting their expectations to attract buyers. If you are looking to buy, current conditions suggest you might have more negotiating power and potentially more choices. If you are selling, pricing your home strategically from the start is important in this environment.