Northern Virginia Buyers Push Old Town Alexandria Waterfront Prices Higher

Median sale prices for single-family homes in Old Town Alexandria reached $925,000 in the second quarter of 2026, up 11 percent from the same period last year according to Northern Virginia Association of Realtors data.

The jump reflects competition from District residents priced out of Georgetown and Capitol Hill, where medians sit above $1.2 million, combined with limited new construction along the waterfront. Families and remote workers have turned to Alexandria for river access and Metro connectivity without the premium attached to H Street or Navy Yard conversions.

Local anchors driving demand

Properties within two blocks of King Street and the Potomac Riverwalk sold in an average of 18 days this spring. Proximity to the Torpedo Factory Art Center and the adjacent waterfront park keeps foot traffic steady, while the expanded King Street Trolley route links directly to the Braddock Road Metro station. Buyers compare these blocks to Georgetown’s canal-side homes but note lower property taxes in Alexandria’s historic district.

Recent listings show townhomes on South Union Street and Prince Street trading at $1.05 million to $1.3 million, levels that would have been rare two years ago. The pattern mirrors the earlier Navy Yard surge but starts from a lower base, leaving room for further appreciation before prices align with core Washington neighborhoods.

Numbers and next steps

Inventory fell to 42 active waterfront listings in June, the lowest June total since 2019. Interest rates near 6.4 percent have not slowed qualified buyers who lock in 20 percent down payments to avoid PMI. Agents advise pre-approval through local lenders such as EagleBank before touring, and suggest checking flood-zone maps for any address south of Duke Street. Those steps position buyers ahead of the expected fall inventory release from estate sales.