During the past year, the real estate market has been hot throughout the entire DC metro region. Let’s take a close look at just one zip code: 22308, which is located within the Fairfax County part of Alexandria just north of George Washington’s Mount Vernon.
If you live within that zip code, your home may be worth more than a million dollars and is likely to sell quickly. Data from BrightMLS reveals that the 2021 market was indeed hot for 22308, and the heat is on for 2022 as well.
In 2021, for homes in 22308:
- The average days on market was 16.
- More than half of the homes listed were under contract within a week.
- The average sale price was about 27 percent higher than in 2020.
- The average sales price was $1,074,843, up from $846,868 in 2020.
- The median sold price was $836,375 compared to $753,000 in 2020.
So far in 2022:
- Of the five homes that have closed in 2022 within 22308, two went under contract within one day and another went under contract in three days.
- Most of these homes sold at the asking price.
- The prices ranged from $600,000 to $1.6 million, with the average sales price at $989,000,
Of the 17 homes that are currently under contract in 22308:
- Nine went under contract within six days of listing or less.
- The average number of days on market was 24.
- The average list price was $1,046,223; and the median price was $974, 900.
Similarly hot markets are to be found within the entire D.C. metro area. So, if you are looking to sell, now is a great time! To get a free market analysis of your home follow this link.
Angela Logomasini and her husband Christopher Prawdzik are licensed Realtors® with Samson Properties in Alexandria. Operating as D.C. Region Real Estate, they serve the Virginia, Washington, D.C., and Maryland real estate market and offer comprehensive real estate services, including 4½% full-service listings.
