Bristow has a four month supply of homes for sale. Six months worth of housing inventory is considered a balanced market by economists. This low level of inventory keeps pressure on prices in an upward direction..
Below you’ll find a report of the previous month’s housing market in Bristow, Virginia:
- Homes for sale: 157 (up slightly from 148 last month, way under the 192 of one year ago)
- Homes sold: 39 (very stable over the past 12 months)
- Average sold price: $308,271 (down from $338,808, but up from $295,510 one year ago)
- Average days on market: 56 (has climbed from 21 days in January 2010 and 42 days in February, but still under the 65 days of one year ago)
Bristow’s prices bottomed out around December 2008, moved up steadily during 2009 and have started to stabilize in the first three months of 2010. At under $350,000 and selling in an average of 56 days, Bristow homes continue to offer good value for buyers which is why the number of transactions have been so stable. Bristow remains an affordable and in-demand place to live. With interest rates remaining in the 5% range, rising consumer confidence, and inventory at such a low level, high buying activity is creating an upward drift in prices.
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