Little Neck & Kings Grant 2nd Quarter Market Update

Here are some important statistics that we wanted to share with you regarding the Little Neck & Kings Grant Housing Market for the 2nd Quarter of the year.

Little Neck

46 Currently Active Listings

13 Homes Sold Between April 1, 2015 and July 1, 2015

The Average List Price to Sale Price Ratio was 97% for all Sales in Little Neck

The Average Days on the Market was 60 Days

Last 30 Days in Little Neck

12 New Listings Hitting the Market

10 Homes Sold or Pending in the Last 30 Days

Kings Grant

18 Currently Active Homes

16 Homes Sold Between April 1, 2015 and July 1, 2015

The Average List Price to Sale Price Ratio was 98% for all Sales in Kings Grant

The Average Days on the Market was 48 Days

Last 30 Days in Kings Grant

7 New Listings Hitting the Market

7 Homes Sold or Pending in the Last 30 Days

Little Neck & Kings Grant 2nd Quarter Market Update

Historical Perspective on Affordability

 

2nd Quarter Market Conclusion: 

Very stable with close to an equal number of homes selling as new inventory comes to market.

Supply of Homes is at roughly 4.5 months in Little Neck (down from 6 in the 1st quarter) which is considered to be a market that was slightly tilted to the seller.

The Supply of Homes in Kings Grant was slightly better at roughly 2.5 months, which gave an advantage to the sellers. This is a normal difference between the two areas due to the average price range of the homes in Little Neck being higher and normally having longer market times than homes in Kings Grant.

Little Neck & Kings Grant 2nd Quarter Market Update

Percentage of Household Income Used Towards Principal & Interest

 

Keep in mind these statistics are looking in the “rear view mirror”.  As we approach the end of July, each year inventory and sales numbers begin to taper off month by month until December. Historically, sales then pick up again in the new year. It’s been that way since our MLS has tracked the data!

If you’d like to discuss the Little Neck & Kings Grant 2nd quarter market update in more detail and how it might affect your situation please feel free to call us anytime at 757-285-6416 or email us at BillByrd@cox.net. Also, if you know of anyone considering buying or selling a home anywhere in Hampton Roads we will be happy to help them too!

 

 

 

Be Sociable, Share!
    Information displayed on this web site is deemed reliable but not guaranteed and is subject to change without notice or editing.