Bristow, VA Market Report –9/5/13

05 Sep
September 5, 2013

Even though there was a nearly 114% increase in new listings, the real estate market in Bristow is still in the “Seller Zone”.  Buyers have been trying to take advantage of historically low interest rates before they rise again but cannot find a home in good condition to purchase without already having multiple offers!

Even the homes that are in poor condition have investors swarming over them with cash offers. August should show a slowdown in sales activity as families gear up for the start of the school year, but September may come back with a bang!!  (Look for those numbers in early October)

Compare home sales for Bristow in July of 2013 to home sales in July of 2012:

  • The number of available homes for buyers to purchase is up 52.83%  Still low Inventory
  • New listings on the market in is up 113.95%  Finally more for Buyers to choose from
  • The average sold price is up almost 7.61%  Result of low Inventory and historically low Interest Rates

Now does this mean your home is worth  more this year than last year?  Absolutely!   Check out the stats:

20136

July

2013

2012

+/-

New Listings

92

43

+113.95%

New Under Contract

23

26

-11.54%

Days on Market Until Contract

17

24

-29.17%

Closed Sales

52

39

+33.33%

Average Sold Price

$381,838

$354,839

+7.61%

Detached Avg Sold   Price

$427,174

$391,162

+9.21%

Detached Units Sold

33

29

+13.79%

Attached Avg Sold   Price

$303,097

$249.502

+21.48%

Attached Units Sold

19

10

+90.00%

Active Listings as of   7/30/2013

81

53

+52.83%

Now is a great time to buy before prices rise even more, and they will.  It is also a good time to sell and move-up to a larger home before those prices start to rise.

For professional real estate service, do not hesitate to call the Realtors at Avery-Hess in Lake Ridge.  Our phones are always on!  703-492-6500

Information obtained from statistics supplied by Metropolitan Regional Information Systems, and analysis and comment by Mark Holyfield, Sales Manager, Avery-Hess, Realtors, Lake Ridge Regional Office

Erica Higgins

Administrative Manager & Marketing Assistant at Avery-Hess, Realtors
Front Royal
Office: (540) 631-9009
Email: ehiggins@averyhess.com

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