Home > Kingstowne and Franconia Real Estate Market
National Market Conditions
2018 1st Quarter Market Report: Home Sales Steady - Prices Continue to Rise

The 1st quarter of 2018 ended on a good note with March existing home sales only down slightly over last year, and with 2018 home sales expected to exceed 2017 excellent year. Home Prices in 2018 continue to rise, increasing 5.8% over the end of March last year.

The most notable change in the 1st quarter was an increase in seller activity. Our survey showed that in 46% of the markets surveyed there were still more buyers than sellers, but a decrease of 27% from March 2017. Additionally, 17% of our markets surveyed showed more seller activity than buyer activity, an increase of 8% over last year. The remaining 37% of the markets showed an equal amount of buyer and seller activity which was an increase of 19% over last year. The increased activity, however did not ease the tight inventory 73% of our markets showing a very tight supply of homes available for sale. Home prices are also on the rise with 86% of markets showing price appreciation in the last year.

According the National association of Realtors (NAR) existing home sales in March were down 1.2% over last year, but annual sales are expected to hit 5.6 million units compared to 5.1 million in 2017; inventory of unsold homes is at a 3.6 month supply and 46% of all homes sold in under one month.

The data in this report is generated primarily from our survey of HouseHunt.com exclusive member real estate agents across the United States. This grass roots approach to studying the housing market gives us a thorough look at where the real estate market is through the eyes and perspective of the local real estate agents who are living and working in the trenches of each community.

Buyer and Seller Activity
The trend in both buyer and seller activity is up significantly in the 1st quarter of 2018 compared to the buyer and seller activity from last year. Buyer activity is steady or increasing in 94% of the markets surveyed and decreased in only 6% of the markets surveyed indicating a significant 8% increase in activity from Spring 2017. Simultaneously the trend for seller activity posted a solid 10% gain in the 1st quarter of 2018 with 85% of the markets indicating steady or increased seller activity compared to 75% of the markets at this time in 2017. Despite increased seller activity there are still more buyers than sellers and homes are selling quickly. In fact, according to NAR inventories have decreased to 3.6 month supply compared to 3.8 months in March of 2017. A balanced "normal market" is considered to be a 6 month supply of homes for sale.

...Read Full Article
Summer 2019 Market Update
If you can qualify for a mortgage, now is a great time to buy a home in Alexandria. Interest rates are still low which makes a home purchase a great opportunity especially when considering the tax advantage a home owner might have. Interest rates are supposed to rise in 2016. Financing is still tight, best rates are available with a credit score of 740+. Why rent when you can buy for similar monthly payments? Call the local real estate expert Martina Burns now for more information at 703-650-8533 or toll free at 866-361-6655
Average Sold Home Price: $600,000

Average Time on Market: 10-30 days

Best Selling Price Range: $550,000 - $599,000

Existing Home Prices for the past 90 days: Increasing

Market Trend: Decreasing

Buyer's or Seller's Market: More sellers than buyers

Buyer Activity for the past 90 days: Increasing

Seller Activity for the past 90 days: Increasing

Multiple Offers? Yes

Multiple Offers Commentary: Homes are still selling fast in prime locations but only for up-dated, mint, move-in condition homes, close to public transportation. Those homes are selling in < 10 days on market.

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? 10-15%

Is Financing Available For Qualified Buyers? Yes

Comments on Financing For Qualified Buyers: Northern Virginia’s unemployment rate is only 4.6 %.

Housing Inventory: Limited Supply

Housing Inventory Comments: 06/2016 Market Statistic Data from MRIS = Metropolitan Regional Information System.
Alexandria, Kingstowne zip code 22315: average detached = single family home sold price: $ 596,660 = +4.80 % decrease YOY = year over year.
Alexandria, Kingstowne zip code 22315: average attached = town home sold price: $ 446,952 = +7.83 % increase YOY.
Alexandria, Kingstowne zip code 22315: average condo sold price: $ 300,414 = +5.65 % increase YOY.
Average Days on Market: 26 vs. 23 a year ago = +13.04 % increase YOY.
Average Sold Price to Original List Price: 99.1 % vs. 98 % a year ago = +1.09 % increase YOY.
Most homes sold in less than 10 days on market.
1 cash buyers, 45 conventional loans, 4 FHA loans, 15 VA loans.
Inventory: 98 active listings vs. 89 a year ago = +10.11 % increase.
Pendings = Properties Under Contract: 92 vs. 72 = +27.78 % increase
Please copy and paste link below in your browser to see detailed report for AX zip code 22315:

Please know that the zip code for Franconia is 22310 and has different $$ numbers. Contact me for detailed info for YOUR preferred zip code. Please know that the zip code for Franconia is 22310 and has different $$ numbers. $$ numbers below are for Single Family Homes, the graphs you see on the website include town homes and condos as well This zip codes has lots of really nice town homes, price of most TH sales = $ 400-600 K / min. 3 bed rooms / 2.5 bath

Greatest Activity: Repeat Buyers

Best reason to buy or sell: Good economic news

Nearest Metro Area: Washington DC

Housing Hot Spots: Everything inside the Beltway or within 5 miles and close to Metro or VRE! Most cities within the Fairfax County area are considered �Housing Hotspots�

Contact Information
Top Agent
Email Me
Receive New Listings by Email
Search for Homes
Property Type
Minimum Price
Maximum Price
Mortgage Rates for Aug 25th, 2019
30 year fixed rate: 4.51%
15 year fixed rate: 3.90%
30 year jumbo rate: 4.41%
15 year jumbo rate: 4.12%
Check your Home's Value
Your Street Address
Your Zip Code
Real Estate Professional, Top Agent Top Agent
HouseHunt, Inc.
Specializing in Kingstowne and Franconia Real Estate
19671 Beach Blvd. Suite 206
Huntington Beach, California 92648
Email Me | Receive New Listings by Email
Brokerage Logo of HouseHunt, Inc.
(Because current market conditions can change rapidly in any given marketplace,
please check with Top Agent for current Kingstowne and Franconia, VA market conditions before acting on this information.)
Homes for Sale by HouseHunt.com  Your #1 resource for finding Homes for Sale, How Much My Home is Worth, Community Information and Real Estate Agents!
© Copyright 1995-2019 HouseHunt Inc - All Rights Reserved