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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.)
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.
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.
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®
Chris Ann Cleland, Associate Broker- Licensed in Virginia, GRI, SFR, Northern Virginia Short Sale Specialist. Affiliated with Long & Foster, 7526 Limestone Drive, Gainesville, VA 20155. To contact Chris Ann, call 703-402-0037 or email chrisann@LNF.com. Or you can visit her website: www.nvarealestate.net.
Header photos taken by Chris Ann Cleland.
The opinions expressed in this post are those of Chris Ann Cleland, not those of Long & Foster REALTORS®.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.