Kingstowne Home Sales March 2019 - Market Update
Home sales in Kingstowne really picked up during the month of March and competition is fierce. Sellers enjoyed an over 100% sale to list price ratio which is telling as to just how competitive the market currently is.
March 2019 Kingstowne Home Sales
•Number of Sales: 46
•Highest Priced Sale: $746,000
•Lowest Priced Sale: $236,000
•Median Sales Price: $480,000
•Median Days on Market: 10
•Median Sale Price to List Price Ratio: 101.6%
Is It A Buyer’s Or A Seller’s Market?
It remains a seller’s market in Kingstowne, supply just isn’t keeping up with demand. There are currently 36 homes for sale, 14 of which are located in The Crest Of Alexandria, a 55+ active adult community.
Inventory in Kingstowne
Inventory in Kingstowne is low – very very low. There is less than a one month supply of homes for sale in the area. It’s considered a seller’s market when there is up to a 3 month supply and we are well below that threshold. If you’re a buyer it’s important to understand there are very few homes for sale and homes are moving quickly. Multiple offer scenarios are very common and happening regularly. Be prepared to tour homes quickly and when you find a home you want to make an offer on put your best foot forward. You may not have a chance to make any changes if you’re competing with other offers so make it your best and final right from the start. The good news is rates are extremely low and purchasing now will ensure you can lock your rate in. Your interest rate is what impacts your monthly payment the most.
If you’re considering selling your home now is an excellent time. Although it’s a seller’s market that doesn’t remove the need to properly prepare your home for sale. Buyers are looking for homes that have a reasonable amount of updates (preferably turnkey ready) and providing them with the product they are seeking will deliver favorable results in the form of offers being made quickly and achieving top dollar for the sale of your home.
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Additional Kingstowne Real Estate Resources