Homeowners in Alexandria have increased their home values along with their equity by $10k in the past year. Home prices in Metro had an increase of nearly 4% in the first quarter with existing single family home price at $254,800. In Alexandria the price in single family homes rose by 86% with metro areas seeing double digit increases. Due to higher home prices affordability decreased last year however family median incomes rose in the first quarter. A homeowner making a 5% down payment would need an income of $60,143 to purchase single family home while a homeowner making a 10% down payment will need an income of $56,978 and a homeowner making 20% down payment will need $50,647.
In Alexandria existing home sales rose 4.3% in the first quarter which was a decrease of 4% from the previous year. Existing single family home prices had an increase of 2.5% at $225,700. Continue reading
