How Did The Housing Market In Kingstowne Perform In February 2018?
The real estate market in Kingstowne had strong sales in February 2018. An increase in the median sale price and big decrease in days on the market documents that buyers are out and actively seeking their next home. Demand continues to outpace supply.
Let’s check in on what happened in the Kingstowne market during February 2018.
•Number of Sales: 27
•Highest Priced Sale: $849,000
•Lowest Priced Sale: $270,000
•Median Sales Price: $491,000
•Median Days on Market: 9
•Median Sale Price to List Price Ratio: 99.19%
To gain some perspective let’s go back and compare to February 2017…
•Number of Sales: 24
•Highest Priced Sale: $646,867
•Lowest Priced Sale: $250,000
•Median Sale Price: $439,500
•Median Days on Market: 8
•Median Sale Price to List Price Ratio: 98.87%
The seller’s market in Kingstowne continues. The low days on the market and strong sale to list price ratio is very telling – not only are homes selling fast they’re selling for top dollar.
There are currently 45 homes for sale in Kingstowne. This is good news for buyers, an increase in inventory from this time last month. That’s not to say inventory is plentiful – it’s not but, with the current market it’s nice to see inventory has increased a tiny bit, it's needed. Buyers don’t delay, with as fast as homes are moving the majority of the new inventory will be under contract in a matter of days!
Not every home sells in a matter of days for top dollar. Sellers need to remember homes that move quickly have similar characteristics; they show well, are reasonably updated, and have convenient showing availability. Buyers continue to resist overpriced homes. Even in a seller’s market correct pricing from the day a home hits the market is a key component to selling for the highest price in the shortest time possible. Investing the time it takes to have all the details ready for your home to hit the market is a must. You only get one chance to make a first impression and you want it to be a great one! If you are considering selling your Kingstowne home work with an agent that knows the local market and who has a proven successful track record both in presenting homes for sale, marketing, and negotiation. If you’d like to know more about the Kingstowne real estate market or have questions reach out to us. We’d love to connect with you!
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 your homes current value nothing replaces the expertise of a local agent with years of experience selling homes.