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Kingstowne in Alexandria VA Market Report July 2016

Kingstowne in Alexandria VA Market Report July 2016
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 July 2016:
•Number of Sales: 8 (decrease from 15 in June)
•Highest Priced Sale: $759,990
•Lowest Priced Sale: $425,000
•Median Sale Price: $535,750 (decrease from $580,000)
•Median Days on Market: 9 (increase from 8)
•Median Sale Price to List Price Ratio: 98.50% (increase from 98.07%)

Kingstowne saw a decrease in the number of homes sold in July as compared to June. Median sale price saw a decrease and days on the market remain low but, did increase by 1 day. Always an interesting segment of the market detached homes in Kingstowne are moving very quickly and the homes that are priced correctly and show well are going under contract in just a matter of a couple days. We often see a fluctuation in median sale price and in most cases it can be attributed to the small sample of data one month of sales yields. There are many different styles and sizes of detached homes in 22315 and because of that they sell at very different prices. There are currently 17 detached homes for sale in Kingstowne, there was no change in inventory levels from June to July.

July 2015 vs. July 2016
Reviewing the same time period last year there were 11 single family homes sold. Median sale price was substantially lower last year coming in at $510,500. Days on the market are much lower this year – 32 in 2015 compared to 9 in 2016. Many single family homeowners in Kingstowne continue to see their equity increase.

Townhouse Sales in Kingstowne July 2016:
•Number of Sales: 53 (increase from 46 in June)
•Highest Priced Sale: $577,450
•Lowest Priced Sale: $369,000
•Median Sale Price: $441,414 (decrease from $471,000)
•Median Days on Market: 11 (increase from 8)
•Median Sale Price to List Price Ratio: 98.39% (decrease from 98.60%)

The number of townhomes sold in Kingstowne also saw an increase from June to July while the median sale price saw a decrease. As frequently happens the numbers don’t tell the whole story. There were multiple 2 bedroom 2 bath townhomes with less than 1,500 square feet that impacted the median sale price. The townhouse segment of the Kingstowne market remains a seller’s market and sellers continue to see a strong sale to list price ratio with low days on the market. There are currently 54 townhomes for sale in Kingstowne, no change in available inventory from May to June.

July 2015 vs. July 2016
There were 8 more townhomes sold this July than July 2015. Median sale price was higher this July by $18,414. Days on the market saw very little change, lower last year by just a day. Sale to list price ratio remained consistent 97.95% in 2015 and 98.39% this year. Similar to detached homes appreciation on townhomes in Kingstowne continues.

Buyers: We’d love to help you with your Kingstowne home search. Whether you just have questions or are ready to start touring we welcome the opportunity to work with you. We have programs and systems in place to ensure you secure your new home for the best price and best terms possible. Contact us today, we stand ready to assist!

Sellers: It remains a great time to list your Kingstowne home for sale. Seeking a local agent with proven marketing is essential for a successful sale. We’d love to hear from you and learn more about your home. We offer a guaranteed sale program and have successful track record selling homes in Alexandria. Contact us to have all of your questions answered or to setup an in home consultation today.

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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