Bristow Real Estate Market Report - May 2012
Bristow Virginia has turned into a huge PUD (Planned Urban Development). It boarders the area's of Nokesville, Haymarket, Gainesville and Manassas. Bristow was once farm land that consisted of non conforming neighborhoods with no HOA's and no shopping.
Bristow has quickly transformed into an upper middle class neighborhood with a varitiy of home styles, lot sizes and price ranges. You have neighborhoods like the Braemar Community, Bridlewood, Bridlewood Manor, Brookside, Crossman Creek, Foxborough, Kingsbrooke, New Bristow Village, Lanier Farms, Saybrooke, Sheffield Manor, and Victory Lakes.
The Bristow Real Estate market is going strong for both sales and rentals. There is currently 40 homes for sale in the Bristow area. This is down 17.44% from last year. The average list price is $408,501. Of those 40 homes for sale, three are bank owned and eight are short sales. This is a huge improvement from the 60% short sale inventory we had the same time last year. Year over year prices have improved by 8.04% with an average day on the market of 33 days.
The rental market has been good in Bristow. With the average home being built prior to the real estate bubble it has made it affordable for homeowners to rent their current home and move up to a large one. There are currently 21 homes for rent with an average rental price of $2,338. This is up 13% from the same time last year when rents averaged $2,045. Renting is another option for those who are upside down and need to transfer out of the area.
With the summer real estate market in full swing it appears that prices for Bristow will contunue to edge upward as the supply of homes remains low.
The graph have been provided by RealEstate Business Intelligence
Check out the Nokesville Real Estate Market - May 2012