Kingsbrooke Single Family Home Report: July 2010

This is a quick look at the single family home market activity during the month of July 2010 in Bristow, VA's community of Kingsbrooke.   The comparison's made will be to last report, June 2010.  You can view that report in it's entirety by clicking the link provided.

KINGSBROOKE SINGLE FAMILY HOME ACTIVE LISTINGS

4 Active Listings

2 Short Sales, 2 Regular Sales

High List Price was $419,000

Low List Price was $300,000

Average List Price was $365,975

Compared to last month, Kingsbrooke single family homes are seeing one additional active listing this month.  It is no surprise that half of the active lisitngs are short sales.  Overall, all the list prices this month are lower than June.  High list price is nearly $15,000 lower, low price is $25,000 lower and average list price is over $17.000 lower.  As always, it is important to remember that list prices are suggestions.  What is the most important indicator of the market are the SOLD prices.

KINGSBROOKE SINGLE FAMILY HOME LISTINGS UNDER CONTRACT

3 Listings were Under Contract

2 Regular Sales, 1 Short Sale

High List Price at Time of Contract was $424,900; High Marketing Time was 44 Days

Low List Price at Time of Contract was $275,000; Low Marketing Time was 6 Days

Average List Price at Time of Contract was $393,933; Average Marketing Time was 20 Days

Fewer homes were under contract in July by more than half when compared to June.  It's good to see that the majority of them are regular sales.  While the low list price at time of contract remains the same, the high list price at time of contract is $10,000 higher this month.  Average list price at time of contract is substantially higher, more than $32,000 higher than last month.  Marketing time in Kingsbrooke single family homes under contract has gone down across the board.  That is a great thing.  The high marketing time is down 17 days, low marketing time is down 5 days and average marketing time is down 18 days.  This means it took less time on the market to get an offer in July.

KINGSBROOKE SOLD SINGLE FAMILY HOME LISTINGS

4 Listings Sold

2 Short Sales, 2 Regular Sales

High Sold Price was $399,700; High Marketing Time was 40 Days

Low Sold Price was $325,000; Low Marketing Time was 4 Days

Average Sold Price was $366,738; Average Marketing Time was 24 Days

When it comes to sold single family homes in Kingsbrooke during the month of July, it is nice to see that the number has doubled since June.  And still, not surprising to see half of them are short sales.  Overall, compared to last month, sold prices are down.  The high sold price was more than $32,000 lower, low sold price was $75,000 lower and the average sold price was down nearly $50,000.  This is not necessarily indicative of a drop in market value as there are larger and smaller single family homes in Kingsbrooke.  As for marketing time, these numbers are also down across the board.  High marketing time was down 62 days since June, low marketing time was down 22 days and average marketing time was down 40 days.  This is great news for Kingsbrooke home owners who need to sell their homes.  No seller looks forward to languishing on the market. 

If you find yourself wanting to buy, or needing to sell, a Kingsbrooke single family home, give me a call and let's get the ball rolling.  Whether it's a regular sale, or a short sale, I have the expertise to get your Kingsbrooke home sold.