Kingsbrooke Townhouse Report: April 2012

Kingsbrooke Townhouse Report:  April 2012

The demand for townhouses in the Linton Hall corridor has been out of control this spring and shows no signs of slowing down.  With April behind us, let's take a look back at the townhouse market in Kingsbrooke.  We'll make our comparisons to last report (March 2012) and last year (April 2011.)

KINGSBROOKE TOWNHOUSES FOR SALE

 1 Listing was Active:  A Foreclosure

Since there was only one active listing in April and last month, we'll have to make comparisons to averages only.  Compared to March, the average list price for April was 17% lower and 15% lower than it had been last year.  With only one foreclosure to account for this report's number, I wouldn't let this decrease freak you out if you are a Kingsbrooke townhouse owner.  As always, the best idea of market value always comes from the sold column.

KINGSBROOKE TOWNHOUSES UNDER CONTRACT

9 Listings were Under Contract:  4 Short Sales, 3 Regular Sales 2 Foreclosures

There were three more listings under contract in April than there had been the month prior.  We are still seeing a majority of Short Sales making up the Kingsbrooke townhouses under contract.  Compared to last month, the high list price at time of contract was 17% lower and high marketing time was 35% longer.  Low list price at time of contract was the same, as was low marketing time.  The average list price at time of contract improved nearly 7% and average marketing time increased by 13%, which is only one day, compared to last month. When you look back one year, the average list price at time of contract increased about 13% and average marketing time improved 77%.  Overall, year to year, this is great news.

TOWNHOUSES SOLD IN KINGSBROOKE

3 Listings Sold:  2 Regular Sales, 1 Short Sale

It was great to see three Kingsbrooke townhouses make it to settlement in April.  The high sold price was 5% lower than it was in March and the high marketing time was 78% improved.  The low sold price was 5% higher than it had been last month, low marketing time increased by 100%.  The average sold price was over 2% higher than last month, almost 4% higher than last year.  Average marketing time improved by 66% compared to last month and improved by 23% compared to last year.

The next Kingsbrooke Townhouse Report will be out in June and will detail sales from the month of May.  Until then, if you are thinking of buying or selling a Kingsbrooke townhouse, call me for a free market analysis of your specific home's value in today's real estate market.  I've been a full-time Bristow real estate agent since 2005, and a Short Sale Agent since 2007.  No matter what your equity position, I can get your Kingsbrooke townhouse sold for the maximum amount of money in the shortest period of time.

Chris Ann Cleland, Associate Broker-Licensed in VA, Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com, www.NVARealEstate.net, www.SpeakingOfHomes.net

Statistics compiled by Chris Ann Cleland using information in the MRIS (Metropolitan Regional Information Systems.)

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To view the Kingsbrooke Single Family Home Report for April 2012, click the link provided.