Tue Aug 11 2020
This week the median list price for Burke, VA is $524,990 with the market action index hovering around 72. This is about the same as last month's market action index of 72. Inventory has held steady at or around 11.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$524,990|
|Per Square Foot||$332|
|Days on Market||42|
|Strong Seller's Market|
Despite this week’s down tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$1,083,700||6,970||0.25 - 0.5 acre||4||4||11||0||1||126|
|$649,000||1,628||0.25 - 0.5 acre||4||2||43||0||1||63|
|$499,970||1,656||0 - 4,500 sqft||4||3||35||3||2||0|
|$419,900||1,340||0 - 4,500 sqft||3||2||48||1||1||7|