Kingstowne in Alexandria VA Market Report September 2015
Real Estate market data provided by Amanda Davidson of Living A Dream Real Estate.
Monthly sales comparison 2014 vs. 2015
*Data includes zip codes 22315, 22310
Detached Home Sales in Kingstowne September 2015:
•Number of Sales: 24 (decrease from 33 in August)
•Highest Priced Sale: $852,500
•Lowest Priced Sale: $325,320
•Median Sale Price: $587,500 (increase from $525,000)
•Median Days on Market: 26 (decrease from 27)
•Median Sale Price to List Price Ratio: 98.11% (increase from 96.93%)
The number of detached homes sold in Kingstowne during the month of September decreased by 9 as compared to August. The median sale price increased by over $60k but, part of the large increase is due to multiple homes closing in the $700k and $800k price points. It’s likely we will see a decrease in median sale price next month where in reality the decrease will be back into the $550k range which is where we typically see the median sale price land. Reviewing the same time period last year the number of homes sold remained fairly consistent – 19 in 2014 and 24 this year. Median sale price was lower last year by $47,500 but, again the homes that closed in the high price ranges this month have an impact on the difference. Days on the market are higher this year – 21 in 2014 compared to 26 this year. There are currently 86 active detached homes for sale in Kingstowne. It remains a seller’s market but, if inventory increases a bit more it will be a stable market and there are great opportunities available for buyers. With a slight increase in inventory seller’s need to be conscious of how important it is to select the right agent that knows your neighborhood and can properly guide you through the listing process. You only get one chance to make a first impression and you want to be sure you are putting your homes best foot forward.
Townhouse Sales in Kingstowne September 2015:
•Number of Sales: 33 (decrease from 57 in August)
•Highest Priced Sale: $595,000
•Lowest Priced Sale: $300,000
•Median Sale Price: $439,900 (increase from $435,000)
•Median Days on Market: 19 (increase from 17)
•Median Sale Price to List Price Ratio: 98.27% (increase from 97.83%)
The number of townhouse sales decreased from August to September in Kingstowne. Days on the market increased by 2 and the median sale price slightly increased, up by $4,900. Reviewing the same time period last year the number of homes sold was slightly higher; 42 vs. 33 sold homes sold this year. The median sale price saw a decrease this year, down by $7,350. Days on the market remained consistent, 23 in 2014 and 19 in 2015. Townhouse inventory increased during the month of September and that’s great news for buyers. This segment of the Kingstowne market has been an extreme seller’s market for the past 5 months and inventory had been extremely low. While it’s still not plentiful there are more options now than in recent months and that combined with low interest rates makes it a great time to start your townhouse search in Kingstowne. Seller’s that properly prepare their home for sale, price it according to the market, and make it easy for agents to show are still seeing a strong sale to list price and very low days on the market. Hiring the right agent to guide you through your sale remains an important factor to sell for the highest price and in the shortest time possible.
Buyers: When you’re ready to start your home search I am always available for questions and ready to guide you through each step of the process. I welcome the opportunity to work for you and look forward to hearing from you.
Sellers: It remains a great time to sell and hiring the right local agent who knows the Kingstowne market and has a proven successful track record representing sellers is important. I want to be your agent and will work diligently to meet and exceed your expectations. Contact me to discuss what your goals are and how my marketing will take your home from listed to sold.
703-431-3755 or firstname.lastname@example.org