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Alexandria Real Estate Blog

Alexandria Real Estate Blog - Up to date info on real estate in Alexandria VA

Alexandria Real Estate Market Update June 2009

The housing market has become very active in the past few weeks. The median price for single family homes jumped up from $500,000 in January 2009 to $540,000 in June 2009. Inventory is low and houses are staying on the market for shorter periods of time. In the lower price ranges under $350,000 we have seen fierce competition as first time home buyers are taking advantage of the low interest rates and the $8000 tax credit. There are many short sales and foreclosures providing and excellent investment opportunity. We are seeing many FHA loans with only 3.5% down payment. Many homes are now selling at around 97% of list price.

Don’t let these statistics scare you though – it just means we probably hit the bottom. J There are still some great deals out there though and we can certainly help you find those. Let us know if you are ready to get started.

Published Monday, June 08, 2009 4:07 PM by The Goodfriend Team Alexandria

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