Kingstowne Home Sales February 2019 - Market Update
The story of low inventory in Kingstowne continues. Supply is not keeping up with demand and sellers are enjoying close to a 100% sale to list price ratio. Inventory is needed in Kingstowne and surrounding areas.
Let's look at the details of the current market.
February 2019 Kingstowne Home Sales
•Number of Sales: 22
•Highest Priced Sale: $700,000
•Lowest Priced Sale: $278,000
•Median Sales Price: $479,600
•Median Days on Market: 19
•Median Sale Price to List Price Ratio: 99.73%
Is It A Buyer’s Or A Seller’s Market?
It is a seller’s market in Kingstowne. There are currently 41 homes for sale, 13 of which are located in The Crest Of Alexandria, a 55+ active adult community. While there is still less than a one month supply of inventory there are a few more homes on the market as compared to January. By no means is inventory plentiful, not even close. It remains a prime time to list your Kingstowne home for sale.
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Low Inventory in Kingstowne
Kingstowne housing inventory remains very low, and listings are needed. Buyers have to put their best foot forward in the current market conditions and be prepared to act quickly. Sellers, however, can’t overlook the details that go into listing a home. Buyers are looking for homes with a reasonable amount of updates that show well. Deliver the product buyers are looking for and with proper marketing, you will experience a quick sale for top dollar in the current market.
As a buyer, you have to be prepared to make an offer when you find the home you want – waiting for days to think it over just won’t work in the current market. Work with an agent who has the availability to tour homes with you as soon as they become available. Low inventory increases the odds of other buyers being interested in the same properties and factoring that into your strategy is important to achieve a successful purchase. Read more about how to make your offer stand out in a bidding war.
Receive a free home value estimate within minutes by visiting www.northernvalocalmarketvalues.com. Our home value tool is just a guide, and to be used solely to receive an estimate. If you’d like to receive a free current market analysis with a precise value of what your home could sell for reach out to me and let’s connect! 703-431-3755 or amanda@amandadavidson.com.
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Additional Kingstowne Real Estate Resources
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