The statistics concerning the real estate market presented every month by research and financial institutions describe the movements of home prices at the national and state levels. But knowing how the market behaves in your area is more relevant and interesting. The charts below present the median sales price in two zip codes of Alexandria City, 22314 (included Old Town Alexandria) and 22301 (included Del Ray) for detached and twin/semi detached properties and townhouses.
For both zip codes, we observe an increase in the value of homes for the three consecutive years, 2020 to 2022 especially in 2021. Indeed , the prices went up 10.5% that year in 22314 and 9.1% in 22301 to reach $950,000 and $900,000 respectively.
Also, the market was more active in 2021 than the previous year with 22.2% (402) more sales in 22314 and 54.6% (218) in 22301.
2022 saw an important reduction in the number of sales in both zip codes, -14.9% (22314) and -20.6% (22301) compared to 2021. We notice another negative 20.3% in sales in 2020 for 22301 but an increase of 6.5% in the number of sales in 22314.
Source of information: BrightMLS