Bristow, VA Market Report – 10/14/09

14 Oct
October 14, 2009
Bristow is very popular due to its very young housing stock and infrastructure. Most everything is less than ten years old, even the retail areas and numerous restaurants are all new.

This is a snapshot of the housing market in Bristow, Virginia:
  • Homes for sale: 172
  • Closed sales: 40
  • Average sale price:  $333,441
  • Average days on market: 30

The statistics for Bristow really show a market that is stabilizing after two to three years of decline. The $333,441 average price is up a little over one percent from the previous month and up 8.8% from the same period one year ago. If you find yourself asking “Why?” The answer is supply and demand. Inventory is down 28% from one year ago and most of the people who were worried about their job security have had some kind of resolution. Now, participants in the market are benefiting from all of the risk takers that preceded them that helped stabilize the prices.

Congress is now discussing the prospect of extending and enhancing the federal home buyer tax credit, and talks promise to heat up an already warming market place.

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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