Palazzo at Park Center, City of Alexandria – Northern Virginia – Home Sales Activity 2018

Palazzo at Park Center, City of Alexandria VA – Jan. 12, 2019 – Home sales in the Palazzo at Park Center community experienced mixed results in 2018. The number of units sold significantly increased from 26 to 43 (+65%), while the average sold price during 2018 was $280,983 compared to $292,921 during the previous year – a decrease of 4.08%.

Palazzo at Park Center is just one of 600+ sub-markets within the greater Northern Virginia housing market. Other sub-markets include The Ridges at Glendilough in Fairfax, Singleton’s Grove in Centreville, the Broadlands in Ashburn, Northampton Place and Stonegate in the City of Alexandria just to name a few. Each sub-market has its own unique selling characteristics and statistics that feed into the overall Northern Virginia market. The Palazzo at Park Center average sold price decrease of 4.08% lagged the 2.93% average price increase seen in the overall Northern Virginia region. However, Palazzo at Park Center continued to flex seller strength with near full asking price received from buyers – 99.5% Average Sold Price to Average List Price Ratio. Palazzo at Park Center has continually proven to be a highly desirable community for buyers given its attractive price points and well-planned development.

Palazzo

The table below illustrates the specific activity experienced in the Palazzo at Park Center sub-market – 2018 as compared to 2017.

Palazzo Neighborhood

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: