For Alexandria, Virginia, the total number of units that were sold increased in April, 2018 having 301 units being sold compared to 234 units last month. This is a rise of 29 percent. This month in April had a greater number of units that were sold compared to the past year this time – a rise of 23 percent when compared to April of 2017.
The Sale Price Median
$435,000 was the sale cost median for Alexandria homes last April. $480,000 this April is the sale cost median. This is a rise of ten percent ($45,000) versus last year. April of this year has a sale cost median which is 2 percent higher than March.
The sale price median for any month is the middle sale price. There are the same number of properties which are above the median and below the median.
Number of Months of Supply.
In the month of April for Alexandria, 1.5 months of supply was available. This is compared to April of 2017, when there was 2.5 months available – a drop of 41 percent when compared to one year ago.
How do you calculate the number of months of supply? You divide the present amount of inventory by the present number of sales. This indicates the number of months needed to be able to sell the total amount of inventory that is available at the present rate of demand.
The Ratio of Sale Price to List Price
In April of this year, the sale price ended up being 99.6 percent of the list price average. This is an increase of 0.6 percent when compared to the past year this time.
The Number of Days on the Market
22 was the number of days average on the market in April. This is a lower number of days than the average number of days on the market the past year of 27 days. This is a fall of 19 percent.
For Alexandria Virginia, the median household annual income is $87,319.