The story of low inventory in Kingstowne continues. Supply is not keeping up with demand and sellers are enjoying close to a 100% sale to list price ratio. Inventory is needed in Kingstowne and surrounding areas. Let’s look into the details of the current market.
February 2019 Kingstowne Home Sales
•Number of Sales: 22
•Highest Priced Sale: $700,000
•Lowest Priced Sale: $278,000
•Median Sales Price: $479,600
•Median Days on Market: 19
•Median Sale Price to List Price Ratio: 99.73%
Is It A Buyer’s Or A Seller’s Market?
It is a seller’s market in Kingstowne. There are currently 41 homes for sale, 14 of which are located in The Crest Of Alexandria, a 55+ active adult community. While there is still less than a one month supply of inventory there are a few more homes on the market as compared to January. By no means is inventory plentiful, not even close. It remains a prime time to list your Kingstowne home for sale.
Low Inventory in Kingstowne
Kingstowne housing inventory remains very low, and listings are needed. Buyers have to put their best foot forward in the current market conditions and be prepared to act quickly. Sellers, however, can’t overlook the details that go into listing a home. Buyers are looking for homes with a reasonable amount of updates and that show well. Deliver the product buyers are looking for and with the proper marketing, you will see a quick sale for top dollar in the current market.
As a buyer, you have to be prepared to make an offer when you find the home you want – waiting for days to think it over just won’t work, it will be gone. Work with an agent who has the availability to tour homes with you as soon as they become available and who has experience navigating competitive markets. Low inventory increases the odds of other buyers being interested in the same properties and factoring that into your strategy is important to achieve a successful purchase.
Receive a free home value estimate within minutes by visiting www.northernvalocalmarketvalues.com. Our home value tool is just a guide, and to be used solely to receive an estimate. If you’d like to receive a free current market analysis for a precise value of what your home could sell for in the current market reach out to me and let’s connect! 703-431-3755 or [email protected]