Alexandria's real estate market is experiencing a price correction, with values down 35.8% from last year. Home prices have increased 13.3% in the past month alone. With 3.3 months of supply, Alexandria's inventory levels remain relatively tight. Properties are selling within just 37 days on average, much faster than the historical norm of 128 days. A significant 30.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. The majority of homes (66.7%) sold above asking price, a clear sign of competitive bidding. Affordability remains a significant challenge in the Alexandria market with the affordability index at 609.7. Market projections suggest continued price appreciation in the coming months as demand outpaces supply.