May 2013 - Zip Code 22308
We had a drop in the average sold price in May due to fewer transactions in higher priced home brackets. As you can see from the first graph on the left, monthly activity for Active, Pending and Sold properties continues to trend upward.
The Average Days on Market continues to drop while Average Sold Price to Original List Price Ratio remains high. Looking at the 27 sold transactions in Fort Hunt, 67% were on the market less than 13 days.
The average list price was $693,152 with an average sold price of $686,707. To get a real sense of how the Fort Hunt area is doing, see the 5 Year Average Sold Price trend to the left.
Inventory remains tight across all price brackets. Average interest rates have risen slightly to over 4% for a 30 year fixed rate. As prices continue to improve more sellers are listing their homes for sale. Slightly higher prices and consistent demand is a good thing for the real estate market.
The message for buyers continues to be clear; affordable housing is available in our market but buyers must be prepared to act quickly. Contact us to learn steps you can take to be competitive.
View Fort Hunt Market Trends:
Fort Hunt Neighborhoods
Not certain where to begin or have questions regarding the Fort Hunt area real estate market? We are here to help and are always happy to answer any questions you may have about buying or selling Fort Hunt properties. Give us a call at 703.286.1333 or send us an email and we'll help you get started.
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