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Question: How did the Alexandria real estate market start the new year?

Answer: This week we look at market activity for January 2024 compared with January 2023 for the City of Alexandria and South Alexandria (Fairfax County portions of Alexandria). The charts below show available inventory at the end of the month, contract activity by price range, contract activity by property type (condos, attached homes, and detached homes), and the average days on the market. We have often discussed the continuing pressures of low inventory on our local market, and January shows us how strong those pressures continue to be.


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Question: Why should I use a Realtor?

Answer: Whether you are buying or selling, this is absolutely a question that is on many people’s minds — even if they don’t want to actually ask a Realtor. Of course, it is possible to buy or sell a home without the assistance of an agent. However, in my experience, it is a better choice, financially and for less stress, to use a Realtor — regardless of which side of the transaction you are on.


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This week’s Q&A column, sponsored and written by McEnearney Associates Realtors®, the leading real estate firm in Alexandria, is a bit of a departure from our usual format. To learn more about this article and relevant Alexandria market news, contact us at 703-549-9292. You may also submit your questions to McEnearney Associates via email for response in future columns.

Question: What smart tech are buyers looking for in their next home?


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Question: What should I know about real estate appraisals?

Answer: An appraisal is an unbiased professional opinion of the value of a home. An appraisal is needed when a mortgage is involved in the buying, refinancing, or selling of a property. Other reasons you may get an appraisal is to determine value in the case of estate settlement, divorce, or insurance purposes.


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Question: How did the Alexandria real estate market for 2023 compare to 2022?

Answer: This week we look at contract activity for all of 2023 compared with 2022 for the City of Alexandria and South Alexandria (Fairfax County portions of Alexandria). The charts below show contract activity by month, price range, and by property type (condos, attached homes, and detached homes). We have often discussed the continuing pressures of low inventory on our local market. As interest rates are gradually coming down, there will be an increase in buyer activity. And the same will be true for sellers who will be more willing to give up their current low-rate mortgage. 2024 will see more activity than we had in 2023.


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Question: How long does it take to get a home on the market for sale?

Answer: There are many steps to selling a home. However, if you are somewhat prepared, an experienced Realtor can launch your listing as active in a matter of days. How prepared are you? I would suggest that you leave it to your expert Realtor to assess and advise on whether your home is truly show-ready. In addition to the condition of your home, there are also some important pre-marketing activities that should be done for the best and most lucrative outcome for you, as a seller, and it’s best not to speed through the process too quickly. In our business, we provide each seller with a customized timeline.


Sponsored

This week’s Q&A column, sponsored and written by McEnearney Associates Realtors®, the leading real estate firm in Alexandria, is a bit of a departure from our usual format. To learn more about this article and relevant Alexandria market news, contact us at 703-549-9292. You may also submit your questions to McEnearney Associates via email for response in future columns.

Question: How important is pricing strategy in the current market?


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Question: What are the most important things I should know about caring for my home during the winter?

Answer: Great question! I frequently get reach outs from my buyers about caring for their new (or not so new) homes. After almost no snow last year, many local weather news sources are predicting a winter with lots of snow in the D.C. area. Veronica Johnson, chief meteorologist for 7News First Alert Weather has predicted “17 to 22 inches of snow for the D.C. Metro area this coming winter.”


Sponsored

This week’s Q&A column, sponsored and written by McEnearney Associates Realtors®, the leading real estate firm in Alexandria, is a bit of a departure from our usual format. To learn more about this article and relevant Alexandria market news, contact us at 703-549-9292. You may also submit your questions to McEnearney Associates via email for response in future columns.

Question: What are the real costs of renting?


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Question: Should I list during the holidays?

Answer: At this time of year, we get many people asking if they should list their home now, or hold on until after the new year? As always, if you need to sell, list it. However, sellers are often inclined to wait until the new year. But should they? Serious buyers are still out there looking. They are still waiting for the right home to come on the market.


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Question: What’s been happening with the local real estate market?

Answer: This week we look at contract activity for September and October of 2023 compared with the same time in 2022 for the City of Alexandria and South Alexandria (Fairfax County portions of Alexandria). The charts below show contract activity by price range and by property type (condos, attached homes, and detached homes) as well as the average days on the market.


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