The Stittsville housing market has been extremely active over the past 6-9 months. It has been quite amazing to observe. New regulations and rising interest rates have some homeowners wondering if we have seen the last of these price gains. Let’s take a closer look at the numbers to see whats happening right now in our community.
| AVERAGE PRICES YEAR-TO-YEAR | ||
| Average Price 2017* |
Average Price 2018* | |
| Detached 2-car Garage | $473,000 (based on 20 MLS sales) |
$502,000 (based on 12 MLS sales) |
| Townhouse | $316,000 (based on 15 MLS sales) |
$353,000 (based on 15 MLS sales) |
| *Sales between January 1-February 12 | ||
Our local economy is strong and consumer confidence is high. I really see no indications that this real estate market will cool anytime soon. Especially when I look at the most basic economic concept of supply and demand. Right now the supply is very limited in Stittsville and the demand is strong. We have only six weeks of inventory available right now in Stittsville. This indicates a strong sellers market. Look at the numbers for the townhouse segment this year compared to last. It is a pretty remarkable increase. We haven’t even hit the Spring market yet!
In about six weeks we will have lots of military buyers out looking to secure their Stittsville home. Their best hope is that there is more inventory coming to market soon.
(Chris is a sales representative with Keller Williams Integrity Realty.)