Bristow, VA Market Report – 9/17/09

17 Sep
September 17, 2009

The statistics below represent the market for Bristow, Virginia:

  • New listings – 191
  • Closed sales – 40
  • Median Home Price – $327,301
  • Average DOM – 31

A part of Prince William County, Bristow is also located just to the west and south of Manassas in Northern Virginia, with easy access to I-66. Over the past ten years, Bristow has seen its population almost double in size. In the month of August, there were 191 homes listed for sale, a decrease of 5.5% from the 202 that were listed in  July. 40 homes were sold in August, which is less than the 50 sales closed in July. However, we can attribute this decline in sales to the lack of inventory in lower-priced homes, which have been ideal for those looking to capitalize on the federal tax credit for first-time homebuyers. Still, the vast majority of the inventory in the Bristow market falls in under $400,000–the hottest price range in any DC Metro Area market.

Compared to the same period in 2008, the median home price for the area was down 3.3% to $327,301. On the other hand, the average days on the market plummeted from last year’s 107 to just 31 days in August 2009. Talk about a dramatic turnaround!

Market data and  commentary provided by David Hess, Executive Vice President and Managing Broker.

Search for homes in Bristow, and all of the DC Metro: www.averyhess.com

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