Active detached listings in West Springfield and Burke,VA in the $500,000-$750,000 range yields 12 active listings, and 7 of those are NEW Springfield/Burke listings in the last 7 days. With 6 getting contracts in the last week, and 12 active listings, that means you have 2 weeks’ inventory. Not great numbers for buyers, but if you act quickly, or find that listing that makes it beyond the first weekend, then you may have better luck submitting a winning offer. Go get pre approved now! Let us know if you need a lender!
In the upper price bracket of $750,000 to $1 million dollar listings, we have 2 contracts in the last week and 3 active listings. That shows us that the demand is there, and availability is low; now would be the ideal time to get in the game and list your home in the $750,000 and over market.
In the townhome market UNDER $450,000, there are 10 active townhomes and only 4 that received contracts for the last week. So with a 2.5 week supply, first-time home buyers may see less competition on any single townhome home – but I wouldn’t get greedy on an offer, as there are many buyers out there ready to land their dream home.
If you look at townhomes OVER $450,000, the market is moving fast! With 4 active listings and 8 contracts in the last week in Burke and West Springfield, VA, as of today there is an inventory of 3.5 days! Wow!
We can surmise many details from all of these localized statistics, but the numbers show significant demand for townhomes over $450,000 and limited listings for sale in that range. These markets also lack the inventory for move-up buyers wanting to buy above $750,000 in zip codes 22015, 22151, 0r 22153.
Want to talk about listing your home in West Springfield or Burke? Call us today at 703-298-7037.
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