Real Estate Demand High for Alexandria

ALEXANDRIA, VA -- Demand for buying homes in Alexandria is high according to data from recent months.

While the D.C. region is overal struggling from low inventory, Alexandria may be a market to watch during the spring home buying season.

The number of days a house stays on the market has dramatically decreased in recent months, writes Washington Post real estate columnist David Charron. From November 2016 to February, the average days on the market have dropped by double digits when compared to the prior year. In addition, the decrease occurred while the average number of listings increased.

Charron writes:

In 2016, the median sales price for this area hovered around the $500,000 price range, fluctuating about $25,000 either side of that throughout the course of the year. But the obvious demand for homes suggests that prices may well see significant increases this year. If that comes to pass, then we’ll know this has become a sought-after suburb.

According to Realtor.com home listings, $549,616 is the average price in Alexandria.

The two other housing markets markets noted in the column-- Hyattsville and Germantown -- are in Maryland.

The busy spring home buying season is underway, and it will be telling for Alexandria's real estate market.

Image via W. Connett/Visit Alexandria