Alexandria city home prices
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Anonymous
| Where are they now? High? Rising? Overinflated? Spot on? I know it is a hot market. |
Anonymous
| In Old Town itself, I think they are back to about 2004/early 2005 prices. So peak of the last bubble. But I think they are sustainable here because there is so much redevelopment ongoing and on the way (at least in North Old Town). And long-term with the waterfront revitalization, Old Town is increasingly going to be an attractive area. |
Anonymous
| Houses are going under contract before the open, so it's a competitive market. What neighborhood are you interested in specifically? |
Anonymous
| It really depends on the neighborhood, but overall I think Alexandria is increasing. In the West End, where there is maybe lower demand than Old Town, houses are still going under contract in a week or two, and usually for asking price or higher. We've seen increases in our neighborhood since we bought 2 years ago. |
Anonymous
|
Asking prices by me are definitely higher than they were when we bought in 2005. But where we are (North old Town, near metro) they never really crashed either, just kind of stagnated, then started gradually climbing in maybe 2011. Now they seem very high to me again.
For example, the house on the next block sold for $725K in late 2004 and they're now asking $895K. Very similar houses on the same block sold for $790-$840K in 2012. These are all townhouses, same square footage. They may have slightly different layouts and/or upgrades so I can't say they're identical. But gives some sense of trends. Townhouse across the street sold for $550K in late 2004 and is now asking $725K. Last summer, the one next door to it (very similar, but no garage) sold for $655K. In 2012, another one of that block of houses sold for $650K. |
Anonymous
West End homeowner here confirming this. |
Anonymous
| We are considering 22301, 22302, and 22305. Wondering if now is a good time to buy, or if waiting makes sense. |
Anonymous
Waiting for what? Prices to decrease? |
Anonymous
|
If it's any help, Yellen so spooked her peers and the market last month with her QE and interest/inflation control comments that in lat March, the Fed back tracked.
That means interest rates may stay or even go down a bit. In fact the 30 year is a tad lower this week. Don't rush, as all the rushers will be out there. Those area codes are good to buy in (but you MUST consider the school situation), and maybe the more affordable will come after the rush: owners who want to sell, house needs a bit of care and upgrades. Alexandria City homes have not hit the 2005-2007 level, and I doubt they ever will as that was bubble time. But they have appreciated since the great recession, yes. Good luck. |
Anonymous
| Homes in my neighborhood in 22305 are selling for well above the 2005-07 prices. |
Anonymous
+1. |
Anonymous
Because of the obvious bubble stoked by the Fed. But don't fight the fed and try to time it. But buy a home you can afford for long term and will ft your lifestyle for 10+ years and you can relax. Along that note, TcW work for you or going private? |
Anonymous
| Probably private when kids are in the picture, but we shall see. So, money is safe (as age as anywhere) by buying in Alexandria City? |
Anonymous
| It's easy to see past housing trends. Just type a zip or address into Zillow. Nobody can tell you you will be safe, but close-in desirable neighborhoods never really ranked. They just stalled a bit. |
Anonymous
Do not assume that. You must consider this along term consumption obligation. If at the end you have equity great; if Fed fumbles and house prices tank, well it's a happened before so don't be surprised |