Old Town Alexandria, Virginia -- Housing Market Inventory

Old Town Alexandria is one of the most popular areas in Northern Virginia.  Its location along the Potomac River, its rich history, cobblestone streets, historic townhouses, and eclectic shops and restaurants along King Street attract tourists and residents alike.  Old Town Alexandria is convenient for homeowners commuting to D.C. either by car or from the King Street or Braddock Road metro stations.  But, many residents of Old Town Alexandria choose to work in Old Town itself and enjoy the conveniences of walking or biking to work.  With the opening of the new U.S. Patent and Trademark Office at the southwestern end of Old Town, many new condominiums have sprung up recently and are continuing to be built to accomodate the many Patent Office employees.

Here's a snapshot of the housing inventory currently on the market in Old Town Alexandria (comprising zip code 22314):

There are currently 281 homes on the market ranging in price from $199,000 to over $5 million, with the average price being just over $724K.  These homes have been on the market for an average of 100 days, which is pretty much in line with most neighborhoods in Alexandria and Arlington at this point in 2007.

Homes on the market in Old Town include everything from waterfront condos with great views of the Potomac River and the D.C. monuments such as the condos at Marina Towers, new condos at The Royalton right above the wonderful Whole Foods Market grocery store, to historic townhomes on cobblestone streets and luxury large townhouses in the million plus range at Fords Landing on the river.  Some of the available neighborhoods and condo complexes within Old Town right now include: Abingdon Row, Bearings North, Bearings South, Carlyle Towers, Chatham Square, Fords Landing, Harbor Terrace, Marina Towers, Old Town Greens, Old Town Village, Port Royal Condominiums, Potowmack Crossing, The Royalton, and Yates Gardens.

In April 2007, there were 67 closed sales of homes in Old Town Alexandria at an average sales price of close to $600,000 and these homes sold after spending an average of 91 days on the market.  This would indicate that Old Town Alexandria has about a 4.2 month supply of homes which normally would point to a seller's market.  However, with the length of time on market being approximately 100 days, Old Town Alexandria is still experiencing a slight buyer's market, or at least a balanced market.

Here's an interesting interactive map of the Old Town Alexandria area.

Old Town Alexandria is a terrific place to call home -- start your search for your new home in Old Town today.