June 2019 ALEXANDRIA, VIRGINIA MARKET INSIGHT
The median sold price for Condo & Coop properties for June was $320,000, representing a decrease of 3% compared to last month and an increase of 1.6% from Jun 2018. The average days on market for units sold in June was 11 days, 75% below the 5-year June average of 43 days. There was a 23.1% month over month decrease in new contract activity with 10 New Pendings; no MoM change in All Pendings (new contracts + contracts carried over from May) with 16; and a 40% increase in supply to 7 active units. This activity resulted in a Contract Ratio of 2.29 pendings per active listing, down from 3.20 in May and an increase from 1.67 in June 2018. The Contract Ratio is 65% higher than the 5-year June average of 1.39. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer’s favor.
For full pdf report with infographics: Alexandria VA – June 2019 – Local Market Insight