It is just a matter of days before school lets out and summer vacation mode officially begins in Bristow's community of Kingsbrooke. Before then, let's stop and take a look back to May's Kingsbrooke single family home resale market and see what we have to report. Comparisons, unless otherwise noted while be made to last month's report (April 2011.)
ACTIVE KINGSBROOKE SINGLE FAMILY HOME LISTINGS
1 Active Listing
High List Price was $300,000
Low List Price was $300,000
Average List Price was $300,000
There was one less active listing during May, than there was in April. This one is a Short Sale, where there was an even split between Shorts Sales and Regular Sales last month. Since there was only active listing, it doesn't make sense to compare anything but average list prices. The average list price for May is $49,950 less than it was in April. As always, list prices are suggestions. For the best idea of market value, let's keep our eyes to the sold column.
KINGSBROOKE SINGLE FAMILY HOMES UNDER CONTRACT
4 Listings were Under Contract
2 Regular Sales, 2 Short Sales
High List Price at Time of Contract was $399,900
High Marketing Time was 117 Days
Low List Price at Time of Contract was $250,000
Low Marketing Time was 7 Days
Average List Price at Time of Contract was $319,950
Average Marketing Time was 45 Days
There were twice as many Kingbrooke single family homes under contract in May as there were in April. This time, instead of them all being Short Sales, we are seeing an even split between Short Sales and Regular Sales. The high list price at time of contract was $70,000 higher; high marketing time the same. Low list price at time of contract was the same; low marketing time drastically reduced by 35 days. Average list price at time of contract twas $20,000 higher; average marketing time decreased by 35 days. Those are trends we like to see.
KINGSBROOKE SINGLE FAMILY HOMES SOLD
3 Listings Sold
All Regular Sales
High Sold Price was $417,000
High Marketing Time was 50 Days
Low Sold Price was $385,000
Low Marketing Time was 10 Days
Average Sold Price was $403,167
Average Marketing Time was 25 Days
There was one more sale to report in May, than there was in April. And just like last month, they are all regular sales. Unlike the Kingsbrooke townhouse market, single family homes turn over less frequently, thus the likelihood of single family home owners being in an equity position is much greater. The high sold price was $17,000 higher; high marketing time 3 days longer. Low sold price was $12,000 lower; low marketing time 3 days shorter. The average sold price was $4,667 higher; average marketing time 2 days shorter. Stability and slight increases are good to see in this sold column.
The next Kingsbrooke Single Family Home Report will be out in July and will detail resales of Kingsbrooke single family homes from June. Until then, if you are thinking of placing your Kingsbrooke home on the market, please don't hesitate to call. I've been a full-time Bristow real estate agent since 2005 and a Short Sale Specialist since 2007. No matter your equity position, I can help you sell your home for the highest possible price in the shortest amount of time.
Chris Ann Cleland, Associate Broker, Licensed in Virginia, Long & Foster REALTORS®
703-402-0037, ChrisAnn@LNF.com, www.NVARealEstate.net
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