Bristow still has just a five-month supply of homes for sale, and economists consider six-months worth of housing inventory a balanced market. This low level of inventory keeps pressure on prices in an upward direction. Bristow is so stable of a market that the wording in the market commentary written below has not changed much in the past six months.
Below you’ll find a report of the previous month’s housing market in Bristow, Virginia:
- Homes for sale: 173 (up from 163 in May, 157 in April, but under the 192 of one year ago)
- Homes sold: 36 (stable as compared to 34 one year ago)
- Average sold price: $331,155 (compared to $326,198 in May, 331,155 in April, and way up from $313,655 from one year ago)
- Average days on market: 28 (compared to 29 in May, 56 in April and down from 43 days one year ago)
Bristow’s prices bottomed out around December 2008, moved up steadily during 2009 and have stabilized in the first six 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