Alexandria Virginia Real Estate: Condo Inventory October 2008
October 06, 2008
Inventory of Condos in Alexandria Virginia
As of October 2, 2008, there were 354 condos on the market in Alexandria, Virginia (16% less than the 417 on the market this time last year). This represents almost exactly 50% of the inventory of homes currently available in the City of Alexandria. During the month of September, 56 Alexandria condos sold.
Over the first 3 quarters of 2008, 542 condos sold in Alexandria, or just over 60/month on average. These sales numbes are significantly down from last year which saw an average condo sales rate of 90/month in Alexandria.
Based on the September rate of sales, there is a 6.3 month supply of condos in Alexandria, a relatively balanced market.
The chart below shows the inventory of condos at the 8 communities with the most current inventory on the market in Alexandria:
Here are the current average prices in Alexandria:
1 BR Condos -- 113 available, average price $245,226 (average Oct. 2007 price -- $259,455)
2 BR Condos -- 183 available, average price $334,374 (average Oct. 2007 price -- $341,770)
3 BR Condos -- 47 available, average price $348,737 (average Oct. 2007 price -- $387,084)
