Alexandria Median Home Prices Drop: Report

ALEXANDRIA, VA -- With one month to go, median home prices in Alexandria have dropped in 2016, The Washington Post reports. City home prices saw the biggest drop when comparing November 2015 to November 2016, to surrounding jurisdictions, according to the report.

Here's a look at the figures:

In Alexandria last month, 195 homes sold at a median price of $499,000 compared to a median price of $545,000 in November 2015, according to the report. When compared to last November, that's an 8.4 percent drop, according to the report.

Overall though, the picture isn't so gloomy. Year-to-date sales show that the median price of homes in Alexandria in 2015 was $499,900 and in 2016, it was $495,000, just a 1 percent decrease.

Next door in Arlington County, 239 homes sold last month at a median price of $525,000, compared to a median price of $569,000 in November 2015, according to the report. When compared to last November, that's a 7.7 percent drop, the report said.

Year to date sales in Arlington County show that the median price of homes in 2015 was $560,500 and $549,900 in 2016, a 1.9 percent decrease.

Falls Church City saw the largest drop when comparing November sales figures. The median price there last year for a home was $736,700 compared to this year's $548,766, a 25.5 percent drop (and this was only for the sale of 11 homes). But year to date sales show that Falls Church City is seeing a 2.3 percent gain in the median price of a home, from $695,000 last year to $711,000 this year.

See the Washington Post's full real estate report here.