Bristow’s current housing supply is down to four month’s worth of inventory. Typically economists say that a six-month inventory indicates a balanced market. This low level of inventory is keeping upward pressure on prices in the area. However, overall Bristow has been a very stable market during 2010 after a rapid rise starting in December 2008.
Below you’ll find a report of the previous month’s housing market in Bristow, Virginia:
- Homes for sale: 172 (compare to 173 in June and 202 one year ago)
- Homes sold: 43 (stable as compared to 36 last month and 50 one year ago)
- Average sold price: $333,981 (compared to $337,901 in June and $298,935 one year ago)
- Average days on market: 27 (compared to 34 in June and 35 days one year ago)
Everyone is still waiting to see what the housing market will do now that the two years of government stimulation has ended. My prediction for the market is that we will soon be seeing stable prices. People are buying real estate to live in, not to speculate on. This is healthy for everyone.
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