Bristow, Virginia went from the weather warming up to becoming sweltering in a matter of weeks. Thank goodness the Kingsbrooke community pool is now open for residents to have a place to cool themselves off. While you're doing that, I'll go ahead and give you the stats on the Kingsbrooke townhouse market for the month of May. As always, comparisons will be made to last month's report (April 2011.)
KINGBROOKE ACTIVE TOWNHOUSE LISTINGS
4 Active Listings
2 Regular Sales, 2 Short Sales
High List Price was $244,000
Low List Price was $199,000
Average List Price was $222,600
There were double the number of active listings in May, compared to the previous month of April. Again, the split is even between Short Sales and Regular Sales. High list price decreased by $15,900. Low list price remained the same. Average list price decreased by $7,300. Since list prices are merely suggestions the buyers in the market, we will look to the sold column to give us the best idea of market value.
KINGSBROOKE TOWNHOUSES UNDER CONTRACT
7 Listings were Under Contract
5 Short Sales, 2 Regular Sales
High List Price at Time of Contract was $230,000
High Marketing Time was 95 Days
Low List Price at Time of Contract was $199,000
Low Marketing Time was 0 Days
Average List Price at Time of Contract was $213,233
Average Marketing Time was 25 Days
There were three more listings under contract in May, than the prior month. Again, the majority of listings under contract are Short Sales. High list price at time of contract increased by $5,000; high marketing time remained the same. Low list price at time of contract is the same, as is the low marketing time. Average list price at time of contract increased by $5,258; average marketing time sped up by 14 days.
KINGSBROOKE SOLD TOWNHOUSES
2 Listings Sold
1 Regular Sale, 1 Short Sale
High Sold Price was $208,000
High Marketing Time was 4 Days
Low Sold Price was $199,500
Low Marketing Time was 4 Days
Average Sold Price was $203,750
Average Marketing Time was 4 Days
The same number of listings sold this month as did in April. Again, a split between regular sales and Short Sales. High sold price was $42,000 lower, while high marketing time improved by 15 days. Low sold price decreased by $10,500; low marketing time increased by 2 days. Avearage sold price decreased by $26,250; average marketing time improved by 9 days. These numbers are typical of a spring market in Prince William County. The influx of inventory on the market means home owners must lower their prices to the next home chosen by buyers. So while marketing time is improving, sales prices have slumped.
The next Kingsbrooke Townhouse Report will be out in July and detail sales from June. Until then, if you are thinking of selling your Kingsbrooke townhouse, don't hesitate to call for a free, personalized market anaylsis of your home's worth in the current marketplace. I have been a full-time real estate agent since 2005 and a Short Sale Specialist since 2007. No matter your selling situation, I can help you get the best price in the shortest period of time for your Kingsbrooke townhouse.
Chris Ann Cleland, Associate Broker, Licensed in Virginia, Long & Foster REALTORS®
703-402-0037, ChrisAnn@LNF.com, www.NVARealEstate.net
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