"Old Town" In Alexandria, Virginia, Heats Up With Seller's Market
Old Town In Alexandria, Virginia, has location, history and vitality, say local Realtors. "This is another great year for sellers and frustrating for buyers," says Realtor Carol Wills. "We are seeing buyers fight for properties with sometimes 20-30 other buyers. I have done that more than once. Condo sales are still the hottest market with buyers, as today's buyers want maintenance-free living, and they are somewhat more affordable. Buyers really need to work with experienced accredited buyer agents in this market." Says Realtor Anne Thai, "The landmark area to the west has many high-rises and condominiums along with a mall for the urban living lifestyle. The waterfront community of Old Town Alexandria offers a variety of cultural activities, great schools, theaters, restaurants." "Summer is here," she continues, "and inventory for houses on the market has increased compared with the first quarter of 2005. Homes might stay on the market a little bit longer but well-priced homes continue to sell quickly with multiple offers. There is a lot of brand new construction of condominiums throughout Alexandria, along with a number of apartment complexes converting to condominiums, providing greater homeownership opportunities." "The city of Alexandria exudes charm and its motto is 'The Fun Side of the Potomac,'" says Realtor Brian Block. "Residents living in Alexandria enjoy the quaint cobblestone streets in historic Old Town, strolls along the Potomac River, eclectic shopping and restaurants in the Del Ray area, numerous outdoor parks, and a general great style of living. George Washington made Alexandria his home, maybe you should, too! Housing choices in Alexandria include single-family, rowhouses, luxury townhouses in great developments like Cameron Station, and a multitude of condominium options. New luxury condos are currently being built in the Carlyle area of Old Town, near the King Street metro." Block advises, "With the summer market in full swing in Alexandria, inventory has finally increased quite a bit, which should help buyers looking to move here. However, still expect multiple contracts and fierce bidding for the property of your choice. About 40 single family homes are currently available starting at just under $500K and going up to the millions for luxury homes. There are about 90 townhouses on the market starting in the mid-$300s with a median price in the high $600Ks. Alexandria condos provide the most affordable option with many in the $250K-$400K range." |
