Home Buying in Alexandria>Question Details

cbasalla, Other/Just Looking in Alexandria, VA

According to charts, there was an apprx $200k decrease in the median home price for the 22309 zip code over the past 5 months. Why is this?

Asked by cbasalla, Alexandria, VA Fri Aug 22, 2014

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Could be because the infill builders finished selling the new homes in that area. These new homes will adjust the sales prices. Median Price is not the whole story. Contact a local realtor of your choice to get the real data. I live in that area and sold new homes here. Data does not tell the whole story if you need more specific info I would be happy to help.
0 votes Thank Flag Link Sat Aug 30, 2014
Be careful about reading too much into market averages for a zip code. These are easily influenced by what is hot and selling at the moment. A larger number of condo or smaller townhomes on the market can influence this price just like a large number of higher priced single family homes can. More importantly, is to know the specific neighborhood and immediate community and how sales are going (up, steady or down) in judging a property or group of properties of interest.

A Realtor with a good understanding of the area and who is able to use the Realtor database to gleam this information for their client is usually a buyers best bet. Find a full time and reputable agent and you will be good to go.

Once you have that covered then you should have a good talk with your agent about a good lender one that will get you the best rates and terms available to you and your circumstance. Not all properties will be able to use some of the more buyer friendly loans, so again having a good agent is a must here too.

Enjoy.
0 votes Thank Flag Link Wed Aug 27, 2014
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