Kingsbrooke Townhouse Report: January 2014
So far the New Year has meant a lot of snow and unseasonably cold weather for Kingsbrooke. Have you wondered what this weather might be doing to the Kingsbrooke townhouse market? You're in luck! I'm here with facts and figures from the Kingsbrooke townhouse market for January. We'll make our comparisons to last month (December 2013) and last year (January 2013) to get a see of what has happened.
TOWNHOUSES FOR SALES IN KINGSBROOKE
3 Listings were Active: All Regular Sales
As January came to a close, there were three active townhouse listings in Kingsbrooke. That's two less than had been active when December ended. The high list price was down over 1.5% and the low list price remained unchanged compared to last month. The average list price was down less than 1/10th of 1% compared to last month and down over 5% since last year. Of course, list prices are suggestions. You don't know what a seller will accept, or a buyer is willing to pay, until you get to the sold category.
TOWNHOUSES UNDER CONTRACT IN KINGSBROOKE
6 Listings were Under Contract: 5 Regular Sales, 1 Short Sale
With so many Kingsbrooke townhouses available for sale in December, it is no surprise that January finds us with six Kingsbrooke townhouses under contract, dominated by regular sales. Last year it seemed foreclosures were evenly mixed with regular sales. This year, I think we will continue to see a stray Short Sale here and there, but they are not likely to be the majority of the real estate market again anytime soon.
The high list price at time of contract was up over 10.5%, while high marketing time remained unchanged, compared to last month. The low list price at time of contract was down 11.5%, but low marketing time was 100% faster than it had been last month. The average list price at time of contract was up less than 2/10th of 1% since last month, but down 5% compared to last year. The average marketing time was 60% faster than it had been last month, but 104% longer than it had been last year. Confused? When that happens, it is best to concentrate on the solds.
TOWNHOUSES SOLD IN KINGSBROOKE
1 Listing Sold: A Regular Sale
Only one Kingsbrooke townhouse made it to settlement in January. That being the case, it makes no sense to compare high and low sold prices from reports past. Let's look at the averages. The average sold price, taking $259,999 as this month's average (since it's all we've got,) was down nearly 9% since last month, but up over 6% compared to last year. The average marketing time was up a huge percentage since last month (equating to tacking on 56 days) and was 154% longer than it had been last year.
Overall, it looks as though the prices for Kingsbrooke townhouses are holding steady with small increases here and there. That's a healthy market for values. As for demand, there is still a lot of demand of townhouses in Bristow, so don't wait until the snow and cold are gone to list. Beat your competitors to market for the best chance at getting the highest possible price.
The next Kingsbrooke Townhouse Report will be also be out in March and will detail sales from the month of February. 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.
And don't forget to join Kingsbrooke's new Facebook group. It is a great place to connect with neighbors and always have access to neighborhood property value reports.
Chris Ann Cleland, Associate Broker-Licensed in Virginia, Long & Foster REALTORS®
703-402-0037, ChrisAnn@LNF.com
www.NVARealEstate.net, www.SpeakingOfHomes.net
Statistics compiled by Chris Ann Cleland using the MRIS (Metropolitan Regional Information Systems.)
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To view the Kingsbrooke Single Family Home Report for January 2014, click the link provided.
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