This week’s Q&A column is written by David Howell, Executive Vice President and Chief Information Officer, of McEnearney Associates Realtors®, the leading real estate firm in Alexandria. To learn more about this article and relevant market news, contact David at 703-738-9513 or email [email protected]. You may also submit your questions to McEnearney Associates via email for response in future columns.
Question: How was the first quarter 2022 real estate market in the City of Alexandria?
Answer: Each quarter we take an in-depth look at contract activity in the City of Alexandria compared to the same quarter of the previous year. To put contract activity into context for the first quarter of 2022, we need to take a look at inventory. The lack of inventory is both consistent and persistent, and it is the reality that dominates that market.
For example, there were 30.2% fewer homes on the market in the City of Alexandria at the end of this March compared to last March. The paltry inventory is driving buyers (and their agents!) nuts.
The charts below break down 1st quarter contract activity for 2021 and 2022 by price and by property type. Alexandria has seen decreases across all property types, and the only price category with an increase was for homes priced more than $1.5 million.
- Overall contract activity in the City of Alexandria decreased 8.9% in the 1st quarter of 2022 compared to the 1st quarter of 2021.
- The number of detached homes, the smallest part of the City of Alexandria market, going under contract in the 1st quarter of 2022 decreased 24.8% compared to 2021.
- Contract activity in the condo market decreased 5.5% and attached homes activity decreased 4.4%.
As we head into the spring market there is less than a half month’s supply of homes on the market in the City of Alexandria, and that bodes well for sellers. Opportunities for buyers will be out there, but success will require patience, preparation and persistence.
Note: Data derived from BrightMLS and is deemed reliable, but not guaranteed.
If you would like a question answered in our weekly column or to set up an appointment with one of our Associates, please email:Â [email protected]Â or call 703-549-9292.
McEnearney Associates Realtors®, 109 S. Pitt Street, Alexandria, VA 22314. www.McEnearney.com Equal Housing Opportunity. #WeAreAlexandria
Recent Stories
A look at the smallest and largest homes sold in Alexandria last month, March 2024.
Alexandria Civil Rights leader Ira Robinson, the first Black man elected to the City Council after Reconstruction, died last Friday at his home in Temecula, California. Robinson was 85 years…
Here’s a roundup of all the events, live music, and entertainment happening around Alexandria this weekend; enjoy! Are you organizing an event? Submit events to ALXnow. Friday, April 26 Things…
Port City’s Optimal Wit, its most iconic beer, took home the gold medal at the World Beer Cup. The World Beer Cup is an international beer competition hosted by the…
For many remote workers, a messy home is distracting.
You’re getting pulled into meetings, and your unread emails keep ticking up. But you can’t focus because pet hair tumbleweeds keep floating across the floor, your desk has a fine layer of dust and you keep your video off in meetings so no one sees the chaos behind you.
It’s no secret a dirty home is distracting and even adds stress to your life. And who has the energy to clean after work? That’s why it’s smart to enlist the help of professionals, like Well-Paid Maids.
Monarch Montessori School is now enrolling infants, toddlers and three year-olds for its full-time Montessori program. We offer a seamless enrollment process which involves submitting an application for review, paying the enrollment fee and submitting the remaining enrollment materials before your proposed start date.
At Monarch Montessori School, we aim to provide an authentic Montessori learning experience. At our Alexandria location, we currently have 8 openings in our Primary classroom (ages 3-6), and 6 openings in our Toddler classroom. Additionally, there are 3 infant openings at this time.
Our first floor space is an open concept. Infants and toddlers share the same large classroom. Children ages 3-6 are in two classrooms on our second floor. Each classroom has one lead and assistant guide. We offer a year-round program, with intermittent breaks for Spring Break and Winter Break.
Scholarship Fund of Alexandria Annual Gala & Auction
Do good while having a good time at the Scholarship Fund of Alexandria’s 38th Annual Gala and Auction at the Hilton Alexandria Mark Center. The fun begins with a 2-hour open bar reception while mingling with 499 other Alexandrians who
