Kingstowne Home Sales - Market Report January 2018
Home sales for Kingstowne are in for January 2018. Wondering if it’s a good time to buy or sell? The answer is yes and yes! Sellers are seeing strong sale to list price ratios and low inventory continues to play a factor in the market. Listing your home now means less competition than waiting for spring to come. Buyers are entering the market to find their dream home and lock in their interest rate before they rise again. The Kingstowne real estate market is busy and it continues to be a sought after community; convenient location with easy access to metro, shopping, dining, and daily needs.
Let’s check in on what happened in the Kingstowne market during January 2018. Data is for the 22315 zip code.
•Number of Sales: 26
•Highest Priced Sale: $740,700
•Lowest Priced Sale: $225,000
•Median Sales Price: $455,863
•Median Days on Market: 26
•Median Sale Price to List Price Ratio: 97.30%
To gain some perspective let's go back and compare to January 2017...
•Number of Sales: 35
•Highest Priced Sale: $620,000
•Lowest Priced Sale: $275,000
•Median Sale Price: $442,500
•Median Days on Market: 33
•Median Sale Price to List Price Ratio: 97.75%
The Kingstowne housing market is a seller’s market. The number of homes sold in January 2018 is down by over 25% as compared to January 2017. The median sale price is also up by over 3%.
There are currently 37 homes for sale in Kingstowne, no change in inventory from the same time frame last month. The homes for sale range from a short sale, 1 bedroom, 1 bath condo listed at $195,000 up to $849,900 single family home with 5 bedrooms and 3.5 baths.
Buyers continue to steer clear of homes that are overpriced. Homes that are moving quickly have similar characteristics. They offer updates, are priced correctly, and have reasonable showing instructions that make it convenient for agents to arrange for a tour. Although it's a seller's market that doesn't mean putting the time in to properly prepare your home for sale isn't necessary. Buyers are savvy and the majority are seeking a turnkey home. Use our home value tool to get an estimate of what your home is worth in the current market.
Market reports and home value tools are a good starting point in determining your homes value but, nothing replaces the expertise of a local agent that knows the neighborhood and has a pulse on the market at all times. Updates and overall condition of a home greatly impact price and it takes a professional eye to go through your home in person in order to arrive at the correct value. The little details make a big difference and proper pricing from the day your home hits the market is a must for a successful sale. If you'd like to setup a consultation reach out to us and let's talk. We are full time agents in Kingstowne and are happy to answer your questions.