Here’s market for update for Alexandria City as of October 2022!

Let’s talk about what’s going on in the real estate market. 🏡🧐

Studying the market, we see that there are currently 257 homes for sale in Alexandria City. While, over the last 30 days, there were 151 homes that sold. That gives us a months of supply of 1.7 months. This is up 30% from last month’s 1.3 months of supply.

Why is there more inventory? Interest rates went up close to 7%, slowing down buyer demand. This has resulted in properties taking longer to sell, thus creating more inventory. Because of this, we’ve seen 33 price reductions over the last 7 days.

If you’re a buyer - this is a great time to buy as most of our clients are getting full contingencies and below list price.

If you’re a seller - your marketing and preparation matters more than ever. Homes are still selling within the first week, but for the “cream of the crop” listings. Buyers are pickier than ever right now so your home really has to stand out and pop.💥

If you’re thinking about selling your home in the next year, and want to know what it takes to get your home sold in this shifting market OR if you’re a buyer looking to get a deal - send us a DM or message Blake@thedavenportgroupre.com

Want to check out what's currently on the market? Click here: http://bit.ly/2ScPnez 

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At The Davenport Group, we are obsessed with delivering an unmatched real estate experience.

If you are looking to purchase or sell a home, we would be honored to help you find your place. 🏡

Contact us through:

📱Call/Text Direct (703)-350-8800

📧Email: blake@thedavenportgroupre.com

💻Website: www.thedavenportgroupre.com

To search for homes in the Arlington area, visit us here:

thedavenportgroupre.com

Want to check the value of your home? Click here: 

What's My Home Worth?

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