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.
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