Bristow still has just 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: 172 (up from 157 last month and 148 in March, way under the 196 of one year ago)
- Homes sold: 40 (very stable over the past 14 months)
- Average sold price: $331,155 (up from $308,271 last month, and almost the same as $329,655 from one year ago)
- Average days on market: 28 (down from 56 in April and down from 71 days one year ago)
Bristow’s prices bottomed out around December 2008, moved up steadily during 2009 and have started to stabilize in the first four months of 2010. At under $350,000 and selling in about a month, houses in Bristow 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 high 4% to low 5% range, affordability is very high. Thus Bristow has a robust real estate market.
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