Alexandria Virginia Zip Code 22304 Sales Data
March 18, 2007
Specific Sales Information on Zip Code 22304 in Alexandria Virginia
It's always interesting to explore the information about recent sales close to home. I live in Alexandria in zip code 22304, which comprises the West End of Alexandria approximately from Quaker Lane south to Eisenhower Avenue.
The majority of housing stock in 22304 is comprised of condominiums, including those in "Condo Canyon," the buildings along Holmes Run Parkway (Pavilion on the Park, Place One), Main Street condos in Cameron Station, and the Exchange at Van Dorn on Eisenhower Avenue. There are also a number of townhouse communities including Townes at Cameron Parke along Eisenhower Avenue, Summers Grove adjacent to the Van Dorn Metro, and Cameron Station. Scattered single family homes make up the rest of the available housing.
As of this morning, there are 233 homes on the market in zip code 22304 ranging in price from $180K to $3.4M for brand new construction in the Picketts Ridge area near Quaker Lane and Seminary Road. The average listing price is $453K. There are also 60 pending sales at an average price of $430K.
From the beginning of 2007 through today, 116 homes sold in zip code 22304 ranging in price from $160K through $1M, with the average sale being $422K.
At the rate that homes have sold so far this year, the absorption rate in zip code 22304 amounts to 33 home sales per month equating to a 7 month supply of current homes on the market. Any time there is more than 5 or 6 month's supply, it indicates a buyer's market. Therefore, we are definitely in a buyer's market in 22304 as well as other areas of Alexandria.
