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.
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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.
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Amanda Davidson
Amanda Davidson Real Estate Group
Broker - Owner
Licensed in VA and DC
5680 King Centre Drive #600
Alexandria, VA 22315
Cell: 703.431.3755
Fax: 703.562.7057
Good morning Amanda. Thanks for keeping us informed about the real estate market in Kingstowne.
HI Amanda... interesting to see home sales up... even in a high demand area like Charlotte we are seeing sale declines because of lack of affordable inventory, higher interest rates, and rising home prices.
Good morning Amanda - thanks for the update on Kingstowne. You are still going strong. There is some shift in Westchester, NY.
Amanda, with Amazon's HQ coming to Arlington, you could see a huge increase in home sales. Great market report for Kingstowne.
HI Amanda S. Davidson - I totally love your market report format. That graphic is perfect. It tells the story quickly and your clients can call you for more info on Kingstowne home sales.
Get Ready Amanda, Amazon will hear about vyou being a top Realtor and want you to help them find people homes.
Amanda, Consumers will appreciate your Kingstowne Home Sales Report. Looks like your area is going strong!
Hello Amanda - a clear/concise look at the Kingstowne real estate market. You wisely discuss the new construction segment which has an impact that people want to/should know. Good information.
Sheri Sperry - MCNE® I take that as a huge compliment coming from you. I have always admired your market reports. Thank you!!
Michael Jacobs thank you! It skews the data a bit because of it being a community that isn't open to all ages. I always remember you noting that it's one thing to know the numbers but, another to explain what they mean =)
Thank you all for your comments! With Amazon headed here, I am very curious to see and analyze the impact it has on the market.
Families on the move will appreciate your local market reports.