With homes selling faster and for more money, can the inventory of properties keep pace? Let’s take a look at the numbers.
Property sales for the month of February 2012 decreased just over 21 percent from February of 2011. February saw 116 properties sold in the city of Alexandria, according to statistics released by Coldwell Banker. This is an increase of just over 7 percent from the prior month.
Although it is early in the selling season, year-to-date sales for 2012 are down almost 16 percent from year-to-date sales at this time in 2011.
The average sales price during the month of February was $456,365, an increase of approximately 8 percent from February 2011 and an increase of almost 10 percent from prior month.
The average number of days listings spent on the market prior to their sale was 61 for the month of February, a decrease of almost 12 percent from February 2011 and a decrease of almost 20 percent from prior month. According to Coldwell Banker, a downward trend in market time can indicate a move toward more of a seller’s market.