How Much Will $500,000 Get You in Alexandria?

As of the publishing of this post, November 3, 2017, there are currently four properties in the Alexandria region priced from $490,000-$510,000.

While a half $1 million may seem like a lot in some markets, for the Alexandria area is actually the average price. The median list price and sale price are between $490,000 and $520,000.

So, what can $500,000 by you in Alexandria real estate?How Much Will $500,000 Get You in Alexandria?

Most of the properties are townhouses or condominiums hovering right around the $499,000 mark. All homes are move-in ready and require very little work. These homes are between 672 ft.² and 1402 ft.² and feature one or two bedrooms with one or two bathrooms, however, there is one townhouse for sale on Hickory Street priced at $499,900 that features three bedrooms, two baths, and 1402 ft.². It’s only been on the market for a couple of weeks, so it will probably sell fairly quickly. This condominium is currently vacant and features two stories, beautiful hardwood floors, and a central location close to Warwick Village and Lynnhaven.

From $500,000 on up there are 304 homes for sale, so you can see that most of the properties are actually over the $500,000 mark, however, there are townhomes with two bedrooms, two bathrooms, and over 1200 ft.² for $525,000, $540,000, and the first home above that price is a four bedroom and three bath home with just over 2000 ft.² priced at $539,900. This home is actually a beautifully renovated home with an ideal floor plan. It’s close to Highway 395 and features a newer roof, newer kitchen, and a large backyard.

Read More: The Trending Neighborhoods of Northern Virginia

The majority of properties around the $500,000 mark will be townhomes, row homes, and condominiums. These low maintenance properties offer a wide range of amenities but they will also come with homeowner or condo association dues. When you add on $100-$500 extra per month for HOA dues, it may make more sense to purchase a higher-priced home and avoid the Association fees.

If you’re interested in any of these homes we’ve listed here feel free to give us a call and we be happy to send you a customized detailed printout of each home listed around $500,000 or we can schedule a showing and take a look at any of these homes. ~ Alexandria Real Estate

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