Kingstowne Home Sales December 2018 Market Update
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 28 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.
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.
Interested in knowing more about the Kingstowne market? Reach out and let’s connect!
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