Alexandria October Home Sales Drop 27 Percent While Median Price Rises

Alexandria recorded 125 home closings in October, a 27.3 percent decrease from the same month last year, according to data released by Bright MLS on Nov. 10. Despite the sharp drop in volume, the median sales price for the city increased by 5.3 percent to $789,900.

The number of days properties remained on the market before a ratified sales contract stayed flat at 12. Lisa Sturtevant, the chief economist for Bright MLS, described the market as dormant rather than collapsed, a pattern she said is common for the autumn and winter seasons.

Sturtevant noted that the Washington, D.C., area market will remain sluggish through the end of 2026. She explained that many buyers and sellers are waiting for better conditions in 2027. Sturtevant added that remaining buyers will have more leverage, as sellers are more likely to lower asking prices and offer concessions in the final two months of the year.

Data for the week ending Nov. 8 showed that 11.6 percent of Alexandria homes on the market had price reductions. This figure is higher than the 10.3 percent recorded a year earlier. It also exceeds the rates in nearby Arlington, which saw 9.2 percent price cuts, and Fairfax County, which saw 8.2 percent.

Showings in Alexandria declined to 426 for that week, down from 585 in the same period last year. Meanwhile, active listings rose to 456, up from 332 a year prior.

Across the entire D.C. metro region, October home sales totaled 4,224, a 19.2 percent year-over-year drop. The regional median sales price fell 0.8 percent to $625,000, marking the first annual decline in more than three years. Bright MLS reported that single-family detached home prices rose 2 percent to a median of $826,000, while townhouses fell 0.8 percent to $595,000 and condominiums dropped 5.1 percent to $375,000.

Lawrence Yun, chief economist for the National Association of Realtors, said elevated interest rates are affecting the local market and the nation. Yun observed that homes are staying on the market longer than in the past and urged sellers to be realistic about current conditions. He predicted that if the economy stabilizes and rates decline, the national market would be positioned for a strong start to 2027.

Yun stated that affordability remains difficult, but incomes are rising. He suggested that lower mortgage rates could release pent-up housing demand. Yun also identified consumer confidence as a key factor, noting that sentiment has fallen to roughly half its 2000 level despite job growth. He said boosting confidence could change market dynamics. All October 2026 figures are preliminary and subject to revision.