Kingstowne in Alexandria VA Market Report February 2016
Real Estate market data provided by Amanda Davidson of Amanda Davidson Real Estate Group.
Monthly sales comparison 2015 vs. 2016
*Data for zip code 22315
Single Family Home Sales in Kingstowne February 2016:
•Number of Sales: 10 (increase from 3 in January)
•Highest Priced Sale: $750,000
•Lowest Priced Sale: $438,186
•Median Sale Price: $625,000 (decrease from $700,000)
•Median Days on Market: 43 (increase from 25)
•Median Sale Price to List Price Ratio: 96.88% (decrease from 97.56%)
The number of detached homes sold in Kingstowne saw an increase from January to February. Median sale price decreased and days on the market also increased. The numbers don’t tell the entire story for February. This month was a shift in the market after January’s slow sales and inventory is needed. There are currently just 13 single family homes for sale in Kingstowne. I anticipate the market update for March will be more in line with what’s taking place in the current market. Buyers are actively seeking their next home and now is a great time to list in Kingstowne.
February 2015 vs. February 2016
Reviewing the same time period last year there were 6 more homes sold this February. Median sale price was higher this year by $75,000. Days on the market were lower this year – 88 in 2014 compared to 43 this year.
Townhouse Sales in Kingstowne February 2016:
•Number of Sales: 14 (no change from January)
•Highest Priced Sale: $600,000
•Lowest Priced Sale: $342,500
•Median Sale Price: $442,500 (increase from $440,623)
•Median Days on Market: 19 (decrease from 40)
•Median Sale Price to List Price Ratio: 97.35% (increase from 97.03%)
Townhome sales remained the same from January to February for units sold. Median sale price saw a small increase and sale to list price ratio remained consistent. Days on the market substantially decreased. The drop in the days on the market is very telling of the current market conditions. While I don’t think the true current conditions are reflected in February statistics I believe they will be in March. It’s a seller’s market in Kingstowne and the Spring market has really taken off. There are currently 43 townhomes for sale in Kingstowne.
February 2015 vs. February 2016
There were four more homes sold this February than last. Median sale price remained fairly consistent, up this year by about $2,000 and sale to list price ratio was also a little higher this year 97.35% vs. 96.89% in January 2015. Sellers saw longer days on the market last year; 40 vs. 19 this year.
Buyers: I am well versed in the Kingstowne and Alexandria market and am always available for questions. Contact me today to find out how to start your home search or for more information on homes available for sale in Kingstowne. Let’s team up and find your new home for the best price and best terms possible.
Sellers: The Spring market is in full swing in Kingstowne and now is a prime time to list. My marketing has a proven successful track record, I’m a great listener and welcome the opportunity to learn more about your home.
For a complete list of homes for sale in Kingstowne visit the link or contact me to have a custom listing alert setup to be notified when new homes enter the market.
703-431-3755 or firstname.lastname@example.org