Kingstowne Real Estate

5 Things To Watch In The Kingstowne Real Estate Market | Fall 2018

5 Things To Watch In The Kingstowne Real Estate Market | Fall 2018

Fall has arrived (still haven’t wrapped my brain around that) and with the change in season comes questions about the real estate market. What’s happening in the Kingstowne real estate market and what should you watch for? Check out my top 5 things to watch in the Kingstowne real estate market below.

 


1. Bull Market: We’re still in the longest bull market in US history. The housing market remains strong despite higher interest rates and rising rates are stimulating demand – for now. For how long? We can’t honestly answer that. Read more about rising rates and inventory below.

 

2. Rising Interest Rates: The Fed just increased rates and has expressed their intentions to raise rates once, maybe even twice more in 2018. They’re discussing having three increases in 2019. What does this mean? Rates could hit 5% by the end of the year, that was a prediction very early on in 2018 and it’s looking highly likely to happen. Many buyers who purchased 6-8 years ago have a rate in the 3-3.5% range. If you’re considering making a move the time to do it is this fall.

 

3. Rising Prices: Prices in Kingstowne continue to rise, year to date they’re up 6.2% as compared to 2017. The increase in prices has not slowed buyers down this year, it’s spurred them to purchase now in order to avoid future higher prices and higher interest rates. The market in Kingstowne is competitive with many homes seeing multiple offers but, only if they’re priced correctly and show well.

 

4. Low Inventory: Real estate is local – HYPER LOCAL. While this may not be the case in all areas, in our area inventory is historically LOW and has been for over a year. Low inventory points to a seller’s market. As we mentioned above, homes that are priced correctly and show well are moving quickly. If you’re considering selling your home and meet the above criteria you’re in an excellent position to see a lot of demand from buyers for your home.

 

5. Amazon HQ2: Where Amazon HQ2 will land has been a hot topic in the DMV. The buzz of it possibly landing here has already created some speculation among developers and investors. One thing is for sure, if Amazon ends up here you will see an increased demand for housing with it. You can also expect an increase in traffic but, that’s another story!

 

Interested in learning more about the Kingstowne real estate market or have a specific question you’d like to ask? Reach out to us and let’s connect!

 

 

Kingstowne Home Sales | October 2018 Market Update

Kingstowne Home Sales October 2018 Market Update

The number of homes sold in Kingstowne increased from September to October. The median sale to list price ratio increased slightly and days on the market also increased. Sale to list price ratio remains extremely strong.
 

Let’s check in on what happened in the Kingstowne market during October 2018.

•Number of Sales: 45

•Highest Priced Sale: $1,100,000

•Lowest Priced Sale: $240,000

•Median Sales Price: $482,000

•Median Days on Market: 16

•Median Sale Price to List Price Ratio: 99.63%
 


Is It A Buyer’s Or A Seller’s Market?
It remains a seller’s market in Kingstowne. Supply is not keeping up with demand, a trend we have witnessed throughout 2018.

 

View homes for sale in Kingstowne
 

Current Inventory In Kingstowne

There are currently 71 homes for sale in Kingstowne. An increase of 2 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 (11 at this time) making resale inventory even lower than the total active inventory. Inventory remains low and as we mentioned above it is still a seller’s market. That doesn’t mean buyers aren’t looking for value and a turnkey product though. Seller’s that attempt to price above the market are learning quickly that buyers are passing up on their homes. Proper pricing is imperative – if you price your home correctly and it is reasonably updated and turnkey ready it will be positioned to sell quickly. Rates are currently getting close to 5% and there are a lot of buyers in the market looking to secure their new home. If you’re a buyer in the current market you need to be prepared to make a strong offer when you find the home of your dreams. Days on the market remain low and homes are still moving very quickly in Kingstowne.
 


If you’d like to know more about the Kingstowne market reach out to us and let’s connect! We are always happy to answer questions.
 


Receive a free home value estimate within minutes. 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. www.northernvalocalmarketvalues.com

 

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Homes For Sale In Island Creek in Alexandria, Virginia | November 2018 Market Update

Homes For Sale In Island Creek in Alexandria, Virginia | November 2018 Market Update

There are over 1200 homes in the Island Creek neighborhood in Alexandria Virginia. The neighborhood is home to single family homes, townhouses, and two styles of condos; garden and townhouse style. Island Creek is conveniently located off Beulah Street in the Kingstowne area of Alexandria. The neighborhood is known for its amenities and convenient location; two outdoor pools, tot lots, tennis, basketball, and volleyball courts are all available for residents to use. There’s an assortment of jogging and biking trails through the community and residents also enjoy a private lake. Island Creek features a clubhouse that can be reserved for parties or special events.
 


What’s Nearby Island Creek?

Minutes to Fort Belvoir, public transportation and major highways this community is sought after because of its convenient location for commuters. The Springfield Town Center is just minutes from Island Creek and home to Top Shop, Michael Kors, Forever 21, Dicks Sporting Goods, Macy’s and many more. There are also numerous dining options in the town center; Maggianos, Nando's Peri Peri, Chuys, and Yardhouse just to name a few. Hilltop Village Center is within walking distance of Island Creek and home to Wegmans, LA Fitness, Green Turtle, Burtons Grill and many other retail locations. Residents of Island Creek find access to daily needs, commuter routes, shopping, dining, and entertainment all very convenient.
 


The following is a review of activity in Island Creek since November 2017.

•Number of Sales: 49

•Highest Priced Sale: $860,000

•Lowest Priced Sale: $310,000

•Median Sales Price: $505,000

•Median Days on Market: 35

•Median Sale Price to List Price Ratio: 99%

What Schools Will The Kids Attend?
Children that live in Island Creek will attend Island Creek Elementary and Hayfield Secondary Schools. Visit the GreatSchools website for more information about these schools including reviews and test scores.

 


There are currently 7 homes for sale in Island Creek. Have you been thinking about selling your Island Creek home? Find out its value in the current market by visiting our home value tool for a free estimate.
 


View homes for sale in Alexandria

View homes for sale in 22315

To learn more about Island Creek contact Amanda Davidson Real Estate Group 703.988.3151.

 

 

Kingstowne Home Sales November 2018 Market Update

Kingstowne Home Sales November 2018 Market Update

Lets check in on what happened in the Kingstowne market during November 2018. We’ve been receiving a lot of questions about the market in general and specifically whether it’s still a seller’s market. While days on the market are higher than they were the reality is they’re still very low and so is inventory. Read on to find out if it’s still a seller’s market!
 


•Number of Sales: 38

•Highest Priced Sale: $826,225

•Lowest Priced Sale: $223,100

•Median Sales Price: $477,475

•Median Days on Market: 18

•Median Sale Price to List Price Ratio: 100%

Is It A Buyer’s Or A Seller’s Market?
It is still a seller’s market. There are markets that have shifted to a stable market in others areas of the country but, in regard to Kingstowne that’s just not the case.

 

View homes for sale in Kingstowne
 


Current Inventory In Kingstowne

There are currently 41 homes for sale in Kingstowne. That’s a decrease of 30 homes from this time last month. As we’ve mentioned in our previous market reports it’s important to point out that the Crest Of Alexandria a 55+ active adult community has added new construction listings (11 at this time) making resale inventory even lower than the total active inventory. If you’re considering selling your Kingstowne home now is an excellent time. Homes that are priced correctly, have a reasonable amount of updates, and show well are moving quickly. Many in less than a week. Buyers continue to seek a turn-key ready product and resist homes that are overpriced. Do not make the misstep of rushing to put your home on the market. Taking the time to properly prepare it will produce the best results.
 


If you’d like to know more about the Kingstowne market reach out to us, we’d be happy to answer your questions.
 


Receive a free home value estimate within minutes. Our home value tool is just a guide, and to be used solely to receive an estimate. If you prefer to receive a precise analaysis on what your home is worth in the current market reach out to Amanda Davidson 703-431-3755.

 

See homes for sale in Kingstowne 

 


 

 

2018 Kingstowne Home Sales Market Review

2018 Kingstowne Home Sales Market Review

The tune of it being a seller’s market played in Kingstowne throughout 2018. Final numbers show that the number of homes sold remained fairly consistent, an increase of 16 from 2017. Sale prices were a different story; up by over 5% in 2018 and days on the market were down by over 11%. Sellers also saw a 98.7% sale to list price in 2018.
 


So what does this mean for Kingstowne real estate? It was an excellent year for sellers. Inventory remained low (and still is) which causes buyers to wait for new homes to become available and they are poised to act as soon as they do. We currently have less than a one month supply of inventory. If you’re considering selling your Kingstowne home reach out to me and let’s talk. Winter might be in full swing but, that doesn’t mean it’s not an excellent time to list your home in Kingstowne.

 

Kingstowne home image winter

 

It’s still important to keep perspective as a seller and not have a pie in the sky price in mind for your home. If you price your incorrectly and buyers perceive it as a poor value it will sit on the market. Bottom line, it’s an excellent time to list your Kingstowne home but, you have to be realistic about pricing and keeping perspective is key.

 

If you’re planning a move to Alexandria, Kingstowne is an area buyer's often consider due to its close proximity to DC, Tysons’s Corner, Old Town, major commuter routes, and public transportation. Kingstowne is an urban community with tree lined streets and over 1,200 acres of green space. You’ll find apartments, condos, townhomes, and single family homes along with amenities including a lake, walking trails, outdoor pools, fitness centers, sports courts, and tot lots.
 

 

Kingstowne lake winter

 

A question I’m frequently being asked” “Is the market crashing? I heard on the news that it’s down.” No the market is not crashing, it is stabilizing in some areas and not everywhere is a seller’s market, some areas are even a buyer’s market but, real estate local. Hyper local. Market conditions vary in different neighborhoods so when you’re listening to the news just understand that what they’re saying isn’t specific to your market. If you’re a property owner interested in knowing the current market trends reach out to me. I’m happy to provide you with a free market analysis for your home! amanda@amandadavidson.com or 703-431-3755.

 

Search For Homes In Kingstowne 

 

Resources
Tips For Selling Your Kingstowne Home 

Kingstowne Home Buyer Tips 

 

 

Kingstowne Home Sales December 2018 Market Update

Kingstowne Home Sales December 2018 Market Update

Kingstowne Market Update Dec 2018

 

Last week we shared our 2018 Kingstowne Market Review and it showed that last year was the year of the seller. Very little negotiation was taking place and days on the market remained low throughout the year. What happened during December for homes sales in 2018? Read more below to find out!

December 2018 Kingstowne Home Sales

•Number of Sales: 42

•Highest Priced Sale: $725,545

•Lowest Priced Sale: $232,500

•Median Sales Price: $423,770

•Median Days on Market: 22

•Median Sale Price to List Price Ratio: 98.71%

 

Is It A Buyer’s Or A Seller’s Market?

 

The market in Kingstowne remains a seller’s market. There are currently 23 homes for sale, 15 of which are located in The Crest Of Alexandria, a 55+ active adult community. There is currently less than a one month supply of inventory.

View homes for sale in Kingstowne. 

 

The Crest Winter

 

Low Inventory in Kingstowne

Inventory in Kingstowne is low, very very low and if you’re a homeowner who is planning to sell this spring consider listing sooner vs. later. Competition from other homes for sale in 22315 will be higher with more listings coming on the market in the spring but, with inventory so low right now you’re in an excellent position to capitalize on low supply and high demand. Homes still need to be properly priced and show well in order to entice buyers. Home buyers are attracted to homes that have a reasonable amount of updates. Make sure your home is well presented prior to going on the market. You only get one chance to make a first impression.

 

 

If you’re a home buyer in Kingstowne it’s essential to be prepared to tour a home as soon as it comes on the market. With limited supply your chances of other buyers being interested in the same home increase. Have your pre-approval in hand and work with an agent who is not just a local expert but, committed to tailoring the buying process to your schedule and goals.

 

If you’d like to know more about the Kingstowne market reach out and let’s connect!

 

Receive a free home value estimate within minutes. Our home value tool is just a guide, and to be used solely to receive an estimate. If you prefer to receive a precise analysis on what your home is worth in the current market reach out to Amanda Davidson 703-431-3755.

 

See homes for sale in Kingstowne 

 

Kingstowne Home Winter

 

Resources:

 

Kingstowne Home Buyer Tips 

 

Kingstowne Home Seller Tips 

 

Selling Your Kingstowne Condo 

 

 

Kingstowne Home Sales January 2019 - Market Update

Kingstowne Home Sales January 2019 - Market Update

 

Ktowne Market Update 1/2019

Supply continues to struggle to keep up with demand in Kingstowne. January experienced strong sales with buyers seeing very little if any negotiation. Median sale price increased from December while the number of homes sold and closed decreased.

 

January 2019 Kingstowne Home Sales

•Number of Sales: 35

•Highest Priced Sale: $824,999

•Lowest Priced Sale: $215,000

•Median Sales Price: $439,213

•Median Days on Market: 22

•Median Sale Price to List Price Ratio: 98.33%

 

Is It A Buyer’s Or A Seller’s Market?

It is a seller’s market in Kingstowne. There are currently 30 homes for sale, 17 of which are located in The Crest Of Alexandria, a 55+ active adult community. There is currently less than a one month supply of inventory. If you are thinking about selling your Kingstowne home this spring find out why winter might be a better time.

 

View homes for sale in Kingstowne

 

Kingstowne Sign

 

Low Inventory in Kingstowne

Kingstowne housing inventory remains very low. Homeowners in Kingstowne have an excellent opportunity to sell quickly and for top dollar in the current market conditions. Homes still need to be properly priced and show well in order to entice buyers. Home buyers are attracted to homes that have a reasonable amount of updates and homes that meet these criteria are frequently seeing multiple offers.

 

 

 

If you’re a home buyer in Kingstowne the market is moving quickly and you have to be prepared to act accordingly. Work with an agent who has the availability to tour homes with you as soon as they become available. 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. 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 reach out to me and let’s connect! 703-431-3755 or amanda@amandadavidson.com.

 

See homes for sale in Kingstowne 

 

Additional Kingstowne Real Estate Resources

Kingstowne Home Buyer Tips 

 

Kingstowne Home Seller Tips 

 

Selling Your Kingstowne Condo 

Kingstowne Home Sales March 2019 - Market Update

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.
 

View homes for sale in Kingstowne
 

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.

Receive a free home value estimate within minutes. 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 reach out to me and let’s connect! 703-431-3755 or amanda@amandadavidson.com.

See homes for sale in Kingstowne

Additional Kingstowne Real Estate Resources

Kingstowne Home Buyer Tips
 

Kingstowne Home Seller Tips
 

Selling Your Kingstowne Condo