Alexandria, VA Market Watch for Old Town, November 2009, Zip Code 22314

November home sales in Old Town Alexandria (zip code 2214)  show a 3.75 percent decrease in price from November 2008 but a whopping 40 percent increase in the number of homes sold.  This includes single family homes, townhouses, and duplexes but excludes condominium sales.

I wouldn’t read too much into the decrease in prices.  It has a lot to do with the number of homes on the market, including two listings for over a million.  One sold at 20 percent less than the asking price and the other came in at 7 percent less.

Overall the market is increasingly strong – remember that in October 2009 prices were up 8.8 percent over October 2008 – and the number of days on the market (DOM) decreased from 69 in November 2008 to 58 in November 2009.

For more details give me a call at 703.927.4554,

Michael