Kingsbrooke Townhouse Report: June 2012
Some may consider the weekend we are having to be gloomy with all the cloud cover, but it is giving Kingsbrooke a much needed break from the searing summer temps. The Kingsbrooke townhouse market is not cooling off. With June behind us, let's take a look back at the resale activity and see where values are headed. As always, we'll make our comparisons to last month (May 2012) and last year (June 2011.)
TOWNHOUSES FOR SALE IN KINGSBROOKE
There was 1 Active Listing: A Short Sale
The inventory in May got gobbled up to the point where at the end of the month, there were no active listings. For June, we had one active listing to report at the end of the month. Its list price was over 5% higher than the average last year. Unfortunately, we have no comparison to last month. And since the best idea of market value always comes from those deals that made it to the settlement table, this isn't a concern.
TOWNHOUSES UNDER CONTRACT IN KINGSBROOKE
4 Listings were Under Contract: All Short Sales
Short Sales are dominating the under contract townhouses in Kingsbrooke, and have been for some time. The high list price at time of contract was 14% lower than it had been last month, but high marketing time was 80% shorter. The low list price at time of contract was 2.5% higher than it had been last month and low marketing time also improved by 50%. The average list price at time of contract was 2% lower than it had been last month, but compared to last year it rose 4.5%. The average marketing time improved by 56% compared to last month and improved by 83% compared to last year. All in all, these are good trends.
TOWNHOUSES SOLD IN KINGSBROOKE
7 Listings Sold: 3 Regular Sales, 2 Foreclosures, 2 Short Sales
There was a mixture of regular sales and distressed sales in the sold column, but distressed sales made up the majority. The high sold price was up over 19% since last month and high marketing time was 76.5% longer. The low sold price was 11.5% lower than last month and low marketing time had gotten 33% shorter. The average sold price was over 2% higher than it had been last month and 6% higher than it had been last year. The average marketing time was 20% longer than last month and over 9% longer than it had been last year. Still, with average marketing time being under two weeks, that's nothing to be worried about.
The next Kingsbrooke Townhouse Report will be out in August and will detail sales from the month of July. Until then, if you are thinking of selling your Kingsbrooke townhouse, give me a call for a free market analysis of your home's specific value in today's 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 highest possible price, in the shortest period of time.
Chris Ann Cleland, Associate Broker-Licensed in Virginia, Long & Foster REALTORS®
Statistics compiled by Chris Ann Cleland using the MRIS (Metropolitan Regional Information Systems.)
To view the Kingsbrooke Single Family Home Report for June 2012, click the link provided.