With the spring housing market underway, UrbanTurf is taking its annual look at the neighborhood markets around the DC region. Today, we head over to Del Ray in Alexandria.
Del Ray's housing stock full of cute bungalows and its small main drag with a number of nice restaurants and shops mean that it is almost always a competitive housing market. Three metrics point to that being the case again in 2022.
The neighborhood's list price to sale price ratio is well above 100%. Combined with a contract ratio in the first quarter of the year approaching 2.0, it is clear that there is more than one buyer for most of the homes on the market. This can be see in the median number of days that homes are selling, which is currently under a week.
Below are some of the more interesting statistics we picked out about the Del Ray market.
- $875,000 -- The median sales price of a home in Del Ray so far in 2022, up 6% compared to last year.
- 6 -- The median number of days that homes are spending on the market.
- 104.1% -- The average sale price to original list price ratio for homes that sold in Del Ray this year.
- 1.80 -- The contract ratio for Del Ray in the first quarter of the year.
- Two weeks -- The supply of homes on the market in the first quarter of 2022.
Photo courtesy of Justin Davis.
This article originally published at https://dc.urbanturf.com/articles/blog/heavy-competition-the-del-ray-housing-market-by-the-numbers/19566.
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