Kingstowne Home Sales September 2018 Market Update
The number of homes sold in Kingstowne saw a large decrease as compared to last month but, available inventory has also decreased. The median sale to list price ratio remained consistent and days on the market decreased.
Let’s check in on what happened in the Kingstowne market during September 2018.
•Number of Sales: 33
•Highest Priced Sale: $783,500
•Lowest Priced Sale: $223,100
•Median Sales Price: $476,500
•Median Days on Market: 8
•Median Sale Price to List Price Ratio: 98.30%
Is It A Buyer’s Or A Seller’s Market?
It is still a seller’s market in Kingstowne. Supply is not keeping up with demand, a trend we’ve witnessed throughout 2018.
Current Inventory In Kingstowne
There are currently 69 homes for sale in Kingstowne. A decrease of 14 from this time last month. It’s again important to point out that the Crest Of Alexandria a 55+ active adult community has added new construction listings (7 at this time) making resale inventory even lower than the total active inventory. It goes without saying inventory remains low. A median of 8 days on the market is very telling that buyers are acting quickly. Buyers are however looking for value, sellers who overprice their homes are not seeing offers, their homes are sitting and becoming stale inventory. On the flip side, homes that are priced according to the market, have a reasonable amount of updates, and show well are moving quickly and multiple offers are still occurring. Positioning your home to appeal to buyers in the current market takes the right preparation and a custom marketing plan to showcase all it has to offer. The smallest details make the biggest impact when selling your home.
If you’d like to know more about the Kingstowne market or just have questions reach out to us and let’s connect! We are a small boutique brokerage with an in-depth understanding of the Kingstowne real estate market. I not only work in Kingstowne, but I also live here too and I love the community.
Receive a free home value estimate within minutes by visiting www.northernvalocalmarketvalues.com. Our home value tool is just a guide if you are looking for a precise analysis of the current value of your home nothing replaces the expertise of a local agent with years of experience selling homes. Reach out to us for a free consultation.