For Alexandria Old Town as earlier suspected we are noticing a slow down in the number of homes going under contract and homes sold from the previous month of May. Currently for the month of June we have 32 homes under contract and 33 Sold. At this rate we are expecting a lower number of contracts for June than we had in May. Expect for the entire 22314 market to experience a rise in DOM and the average sales to original list price to drop. This shift started to happen extremely quick in the last week of May continuing into June.
Current Conditions: Declining but a stable market
ALEXANDRIA OLD TOWN 22314
April
88 Contracts
68 Sold
May
79 Contracts
85 Sold
June
32 Contracts as of June 16th 2015
33 Sold as of June 16th 2015
193 Active Listings
193 Active Listings
Annapolis 21401
However Annapolis (21401) is slightly different with plenty of new inventory hitting the market and new contracts for June projected to be even with the month of May but a lower than usual average sales price. With this lower average sales price and even projection of new contracts we could see the higher end listings $1mil+ take a little longer to sell, the DOM to rise and the average sales to original list price to drop across the board, but more specifically for the $1mil+ bracket. Currently for the month of June we have 34 homes under contract and 24 Sold.
Current Conditions: Neutral
ANNAPOLIS 21401
April
61 Contracts
42 Sold
May
72 Contracts
56 Sold
June
34 Contracts as of June 16th 2015
24 Sold Half
274 Active Listings
Now available on PatrickDeLeonibus.com are interactive graphics directly updated from the MLS for the following zip codes.Alexandria, Virginia (22314)
Annapolis, Maryland (21401)
Georgetown, Washington, D.C. (20007)
All data for this article was pulled on June 16th 2015 and considered but not guaranteed to be accurate. Data provided by the MRIS and RealEstate Business Intelligence LLC.
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