Kingstowne Market Update June 2018 Home Sales
The real estate market in Kingstowne saw strong sales again in June. Days on the market remain extremely low and sellers are experiencing a strong sale to list price ratio.
Let’s check in on what happened in the Kingstowne market during June 2018.
•Number of Sales: 59
•Highest Priced Sale: $860,000
•Lowest Priced Sale: $270,000
•Median Sales Price: $512,500
•Median Days on Market: 7
•Median Sale Price to List Price Ratio: 99.42%
To gain some perspective let’s look back and compare to June 2017.
•Number of Sales: 79
•Highest Priced Sale: $825,000
•Lowest Priced Sale: $210,500
•Median Sale Price: $452,500
•Median Days on Market: 7
•Median Sale Price to List Price Ratio: 99.04%
Is It A Buyer’s Or A Seller’s Market?
The seller’s market continues in Kingstowne. Seller's continue to enjoy an almost 100% sale to list price ratio and with inventory remaining low the market still favors sellers.
Current Inventory In Kingstowne
There are currently 59 homes for sale in Kingstowne. Very little change from this time last month. The Kingstowne real estate market is strong and homes continue to move quickly. It’s a great time to be a seller in the area. What about being a buyer? In our opinion the time to buy is now – waiting will cost you more in the form of higher rates (although slowly they continue to rise) and a higher price on the home itself. Being a buyer in a seller’s market means you have to be prepared to act quickly and put your best foot forward. While there are always exceptions, in general, this market is not conducive to much if any negotiation. Often times it takes offering above list price to be successful. Multiple offers are very common and in turn, that means as a buyer you need to submit your highest and best offer upfront. Make it as appealing to the seller as you possibly can. Working with an agent who has full-time availability to work with your schedule and the expertise to guide you through the current market conditions Kingstowne is experiencing is imperative.
If you’d like to know more about the Kingstowne real estate market or have questions about buying or selling reach out to us. We are a small boutique brokerage focused on personalized service. We’re located in Hilltop Village Center near Wegmans and always welcome the opportunity to help.
Find out the value of your Kingstowne home here – free estimate. Our home value tool is just a guide if you are looking for an accurate analysis of the current value of your home nothing replaces the expertise of a local agent with years of experience selling homes.