Manchester Lakes Real Estate Market Update - Alexandria VA
Manchester Lakes is a townhouse and condo community located near Kingstowne in Alexandria, VA. If entering Kingstowne from Franconia Road, Kingstowne Boulevard turns into Manchester Lakes Boulevard, which leads to the heart of the Manchester Lakes community.
Manchester Lakes is home to approximately 1390 townhomes and condos with multiple floor plans. Floor plans include one and two level condos, loft condos, and single car garage condos and townhouses. Homes in Manchester Lakes are all within walking distance of the Festival at Manchester Lakes Shopping Center as well as the Kingstowne Shopping Center. Shopping in and around the Manchester Lakes community include multiple grocery stores and retail stores, a variety of restaurants and eateries, banking facilities, a movie theater, and several parks, biking trails, and walking trails.
For the busy commuter, Manchester Lakes provides easy access to Interstates, 95, 395, and 495. The community is also located within a short distance from the Franconia-Springfield Metro Station as well as the Van Dorn Street Metro Station.
Manchester Lakes Real Estate Update
Currently, there are 3 active listings in Manchester Lakes and 3 additional listings under contract. Average statistics for these listings are as follows:
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ACTIVE (3) |
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List Price |
BR |
BA |
FB |
HB |
DOMM |
Lot Sqft |
Yr Built |
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|
Min |
$278,000 |
2 |
2 |
1 |
1 |
11 |
1,073 |
1984 |
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|
Max |
$397,500 |
3 |
4 |
3 |
2 |
89 |
1,707 |
1991 |
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Avg |
$333,500 |
2 |
3 |
2 |
1 |
44 |
1,493 |
1986 |
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CNTG/NO KO (2) |
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List Price |
BR |
BA |
FB |
HB |
DOMM |
Lot Sqft |
Yr Built |
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|
Min |
$275,000 |
3 |
4 |
2 |
1 |
4 |
1,500 |
1990 |
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|
Max |
$375,000 |
4 |
4 |
3 |
2 |
17 |
2,094 |
1990 |
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Avg |
$325,000 |
4 |
4 |
3 |
2 |
11 |
1,797 |
1990 |
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CONTRACT (1) |
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List Price |
BR |
BA |
FB |
HB |
DOMM |
Lot Sqft |
Yr Built |
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|
Min |
$349,900 |
3 |
4 |
3 |
1 |
24 |
1,280 |
1985 |
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Max |
$349,900 |
3 |
4 |
3 |
1 |
24 |
1,280 |
1985 |
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Avg |
$349,900 |
3 |
4 |
3 |
1 |
24 |
1,280 |
1985 |
Since January 1, 2011, a total of 20 town homes and condos have sold in Manchester Lakes. The average "sold price" (not listed price) of these homes is $323,720.
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SOLD (20) |
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List Price |
Orig Price |
Close Price |
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Min |
$209,950 |
$214,950 |
$200,000 |
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Max |
$409,888 |
$409,888 |
$405,000 |
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Avg |
$327,060 |
$342,182 |
$323,720 |
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Sum |
$6,541,196.00 |
$6,843,646.00 |
$6,474,400.00 |
During the same time period in 2010, a total of 18 homes were sold in Manchester Lakes. The average "sold price" for these homes was $356,444.
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SOLD (18) |
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List Price |
Orig Price |
Close Price |
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Min |
$160,000 |
$160,000 |
$160,000 |
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Max |
$433,000 |
$433,000 |
$433,000 |
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Avg |
$358,247 |
$363,358 |
$356,444 |
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Sum |
$6,448,440.00 |
$6,540,440.00 |
$6,416,000.00 |
Comparing home sold statistics for 2010 and 2011, we see that the number of homes sold differ by only two units, which means home sales in Manchester Lakes remain relatively consistent from January - October of 2010 and 2011. The average price of homes sold differ by less than $35,000 although two additional homes were sold in 2010. This is a solid indication that home prices in Manchester Lakes are also consistent. For home sellers, this is great news as steady home prices means home equity is no longer declining! This is also great news for home buyers! With interest rates remaining at record lows and home prices holding steady, now is a great time to purchase your new home in Manchester Lakes!
For additional information on home buying and selling in Manchester Lakes, please contact me for assistance. Communities available include Victoria Crossing, Surrey, Tiers I, Tiers II, and Essex House, and more!
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