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Kingstowne Market Report May 2016

Kingstowne Market Report May 2016
Real Estate market data provided by Amanda Davidson Real Estate Group.
Monthly sales comparison 2015 vs. 2016
*Data for zip code 22315

Single Family Home Sales in Kingstowne May 2016:

•Number of Sales: 6 (decrease from 15 in April)

•Highest Priced Sale: $890,000

•Lowest Priced Sale: $570,000

•Median Sale Price: $687,623 (increase from $515,000)

•Median Days on Market: 6 (no change from April)

•Median Sale Price to List Price Ratio: 99.53% (increase from 97.17%)

The number of detached homes sold in Kingstowne decreased from April to May. Median sale price saw a large increase this month but, keep in mind that the lower median sale price last month was attributed to a short sale that closed well below market value. It’s important to consider that sale because it made the April median sale price a bit distorted and therefore the increase looks higher this month. Detached homes in Kingstowne are moving very quickly, with median days on the market coming in at 6 for the second month in a row. Sellers that properly prepare their home for sale and price it according to the market are experiencing a strong sale to list price. There are currently 18 detached homes for sale in Kingstowne.

May 2015 vs. May 2016
Reviewing the same time period last year there were 7 single family homes sold. Median sale price was substantially lower last year coming in at $575,000. Days on the market remained consistent – 5 in 2015 compared to 6 this year.

Townhouse Sales in Kingstowne May 2016:

•Number of Sales: 31 (decrease from 32 in April)

•Highest Priced Sale: $620,000

•Lowest Priced Sale: $300,900

•Median Sale Price: $485,000 (increase from $417,000)

•Median Days on Market: 12 (decrease from 26)

•Median Sale Price to List Price Ratio: 98.05% (increase from 96.39%)

The number of townhomes sold in Kingstowne saw very little change from April to May. The townhouse segment of the Kingstowne market remains a seller’s market and sellers continue to see a strong sale to list price ratio but, in order to achieve top dollar it’s imperative the home is properly prepared for sale and professionally marketed. Buyers are enjoying having more homes to choose from than earlier in the year and low interest rates also make it a great time to buy in Kingstowne. There are currently 54 townhomes for sale in Kingstowne.

May 2015 vs. May 2016
There were 7 more townhomes sold in May 2015 compared to May 2016. Median sale price was higher this May by $22,963. Days on the market were lower last May coming in at just 6. Sale to list price ratio was 98.74% in 2015 and this year is 98.05%.

Buyers: Contact us to get your Kingstowne home search started today. Let’s team up and find your new home for the best price and best terms possible. If you have questions on how to get started or about a particular property contact us, we stand ready to assist.

Sellers: It remains a great time to list your Kingstowne home for sale. Contact us to find out how our marketing can take your home from listed to sold. Our systems and marketing have a proven successful track record and we welcome the opportunity to achieve you a successful sale.

For a complete list of homes for sale in Kingstowne visit the link or contact us to have a custom listing alert setup to be notified when new homes enter the market.

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