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Homes For Sale in Kingstowne Market Report November 2016 Alexandria Virginia 22315

Homes For Sale in Kingstowne - Market Report November 2016 Alexandria Virginia 22315

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

Single Family Home Sales in Kingstowne November 2016:
•Number of Sales: 8 (increase from 6 in October)

•Highest Priced Sale: $850,000

•Lowest Priced Sale: $455,000

•Median Sale Price: $657,000 (increase from $650,500)

•Median Days on Market: 24 (increase from 20)

•Median Sale Price to List Price Ratio: 97.13% (decrease from 97.67%)

Kingstowne experienced a slight decrease in the number of detached homes sold in November as compared to October. Median sale price saw a small increase and days on the market increased by 4 but, continue to remain low. The homes sold in November ranged from 3-5 bedrooms, 2-4 full bathrooms and 1,136 – 3,250 square feet. It’s important to note the range of sizes in homes sold in Kingstowne as it creates a large difference in highest vs. lowest sale price each month. There are currently 10 detached homes for sale in Kingstowne, a decrease of 4 as compared to October. Inventory remains very low in Kingstowne.

November 2015 vs. November 2016
Looking at the same time period last year there were 12 single family homes sold. Median sale price was $652,200 and days on the market were 35. Sellers saw a median sale to list price ratio of 96.00% in November 2015.

Townhouse Sales in Kingstowne November 2016:
•Number of Sales: 25 (decrease from 30 in October)

•Highest Priced Sale: $611,500

•Lowest Priced Sale: $307,000

•Median Sale Price: $470,000 (decrease from $475,000)

•Median Days on Market: 33 (increase from 23)

•Median Sale Price to List Price Ratio: 96.15% (decrease from 97.16%)

Townhouse sales in Kingstowne have been impacted by an overall lack of inventory. Many of the homes that closed in November had been active for weeks and in turn impacted the days on the market and median sale price. The townhomes that sold in October ranged from 3-4 bedrooms, 1-3 full bathrooms, and 1,212 – 2,044 square feet. There are currently 11 townhomes for sale in Kingstowne, a decrease of 17 homes as compared to October. It’s important for buyers and sellers to both understand just how low inventory is in the townhouse segment of the Kingstowne market. It’s good news for sellers because it makes it a great time to list but, it’s not ideal for buyers because of inventory being so depleted. You can still be successful in your purchase of a townhouse in Kingstowne but, you need the expertise of a local agent with a proven successful track record. It remains a good time to take advantage of interest rates as they are predicted to continue to rise.

November 2015 vs. November 2016
15 townhomes sold in November 2015 in Kingstowne and the median sale price was $473,950. Days on the market were lower in November 2015 coming in at 18. Sale to list price ratio remained consistent, 97.11% in November 2015.

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.

Interested in what your Kingstowne home is worth in today’s market? Visit www.northervalocalmarketvalues.com for a free no obligation estimate. Whether you just have questions or are ready to enter the real estate market we would love the opportunity to help you accomplish your real estate goals.

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