Kingsbrooke Townhouse Report: August 2012
While the fall temps are cooling things off in Kingsbrooke, the neighborhood townhouse market is as hot as ever. Even though it is the end of September, it's time to take a look at the Kingsbrooke townhouse market and see how it stacks up compared to last month (July 2012) and last year (August 2011.)
TOWNHOUSES FOR SALE IN KINGSBROOKE
1 Listing was Active: A Short Sale
To have left the month of August with only one Kingsbrooke townhouse available for sale is not much better than July when only two were left on the market. Since there was only one for August, we will not compare high and low list prices, but cut straight to comparing averages. The average list price was 12% down compared to last month, but up 21.5% since last year. With the buyer demand being as high as it is, and supply being so low, Kingsbrooke townhouse prices are bound to rise.
TOWNHOUSES UNDER CONTRACT IN KINGSBROOKE
7 Listings were Under Contract: 4 Regular Sales, 3 Short Sales
There were over triple the number of townhouses under contract in August as there were in July. It's split with Regular Sales taking a slight edge over Short Sales. The high list price at time of contract was 33.5% higher than last month, while high marketing time was unchanged. The low list price at time of contract was unchanged compared to the previous month, while low marketing time was 40% shorter. The average list price at time of contract was 13% higher than last month and over 8.5% higher than last year. The average marketing time was 20% shorter compared to the previous month and 67% shorter than last year.
TOWNHOUSES SOLD IN KINGSBROOKE
No Listings Sold in August
While the best idea of true market value does come from the sold column, with no Kingsbrooke townhouses making it to settlement in August, we'll have to wait and see what September's numbers show.
The next Kingsbrooke Townhouse Report will be out in October and will detail sales from the month of September. 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 August 2012, click the link provided.