Just 20 miles south of the Washington, DC, the Alexandria, VA real estate market offers buyers a wide array of options, from luxurious multi-million dollar estates to cozy, affordable townhouses. Historic Alexandria is renowned for its colonial architecture, preserved among the more contemporary housing options even as it grew to become one of the most densely populated cities in Virginia. There are more than 1,200 homes on the market in the city's 15 square miles. The Washington Post reports that, northern Virginia real estate is a buyers' market, with lower average sale prices compared to the first half of 2014. Homes are also spending slightly more time on the market, averaging 64 days. These slowing sales rates motivate sellers and give buyers room to negotiate. The median sale price for Alexandria real estate in November 2015 was $448,000, down eight percent from the previous year. Prices have generally declined each year since 2013. There were 30 percent more listings in that period as well, increasing buyers' options. The financial advising website WalletHub ranked Alexandria among the top 100 best cities in America for first-time home buyers.
Single-Family Homes
Movoto lists nearly 500 single-family homes for sale. The median list price for a single-family home in Alexandria is $659,900, or about $263 per square foot, down just slightly from one year ago. Homes spent a median 65 days on the market. November 2015 saw 119 new listings and 118 price reductions. Townhouses and Condos Movoto offers more than 800 townhouses and condos for sale, ranging from $79,000 for 890 square feet to more than three million for a six-bedroom. The median list price is $328,000, down ten percent from a year ago. Townhouses and condos spend a median 62 days on the market. Median house size, at 1,150 square feet, has dropped just slightly from last year's 1,195. In November 2015, there were 245 new listings and 228 price reductions.
Old Town, 22314
Old Town, Alexandria's historic district, is one of the most expensive real estate markets in the city. Many of its single-family homes are on the National Register of Historic Places. The market prices for single-family homes in this neighborhood range from $575,000 for a 1920s three-bedroom to $2.5 million for this circa-1850 detached townhouse. If you are interested in living in this gorgeous neighborhood, but aren't in the market for a historic home, newer construction and condos are plentiful, as well, with more than a hundred on the market. They tend to be more affordable, starting at just under $200,000 for an amenity-laden one-bedroom.
West End, 22304
The Washington Post hails Alexandria's eclectic West End neighborhood as one of the most diverse in the country, and the same is true of its housing market. The area includes Seminary Hill, with mostly single-family homes; Lower Alexandria, with a mix of townhouses, rowhouses, and smaller single-family homes; Landmark, with its many condo developments and apartment high-rises; Seminary West, with plenty of developments as well as traditional neighborhoods; and the planned community of Cameron Station. Single-family home prices in West End start at around $350,000 for a mid-century bungalow on French Street to $2.9 million for a four-bedroom contemporary stunner. More than 120 condos and townhouses are for sale, ranging from about $125,000 for a one-bedroom to the mid-800s for a well-appointed four-bedroom. Arlandria, 22305 On the border of Arlington County lies Alexandria's Arlandria neighborhood, a traditionally working-class area that saw a surge of development at the beginning of the 21st century. Single-family home prices start around the mid-600s for a two-bedroom corner lot, and range up to just over a million for this 1940s Cape Cod. Spacious homes can be found in Arlandria in the seven to nine hundreds. The area also features condos and townhouses from about $190,000 for a one-bedroom up to the upper 500s for three bedrooms. This is a smaller neighborhood, with around 25 homes and condos on the market. Del Ray, 22301 The Del Ray neighborhood features several three- and four-bedroom single-family homes in the seven to nine hundreds. Condos and townhouses are more plentiful, starting in the 500s for two bedrooms. Residential and commercial development has been approved for the Potomac Yard area, and is slated to offer affordable upper-floor housing above the retail space. North Ridge-Rosemont, 22302 The North Ridge neighborhood was once a rural outpost, and traces of that history give the area a small-town feel. There are more than 70 homes and townhouses for sale in North Ridge, including several one- and two-bedrooms under $200,000. On the upper end of the scale are spacious historic and new-construction homes above the million-dollar mark.
A portion of Fairfax County also uses an Alexandria address, including neighborhoods like Franconia, Rose Hill, and Kingstowne. The City of Alexandria's government website offers a real estate assesment search feature that provides information on recent sales and tax history. If you are interested in moving to Alexandria or the surrounding area, be sure to explore Movoto's city guides. Whether you're looking for affordable neighborhoods, popular neighborhoods, or the best public schools, Movoto's Alexandria guides are the perfect place to start.
