Kingsbrooke Townhouse Report: May 2012
Summer is officially here and the weather is heating up. Of course, the Kingsbrooke townhouse market has been hot for some time now, so the weather is just catching up. So let's see what happened in the last month of spring, May 2012, in the Kingbrooke townhouse market and compare it to last report (April 2012) and last year (May 2011.)
KINGSBROOKE TOWNHOUSES FOR SALE
There were no Active Listings
The Kingsbrooke townhouse market is so hot that every listing that came on the market in May was scooped up and under contract before the end of the month. If you have a Kingsbrooke townhouse to sell, now is the time to get top dollar and get the home sold fast. It is a seller's market. And since there were no active listings at the end of the month, we have no comparisons to make in terms of list price. Of course, we always get our best indicators of market value from the sold column anyway.
KINGSBROOKE TOWNHOUSES UNDER CONTRACT
11 Listings were Under Contract: 6 Short Sales, 3 Regular Sales, 2 Foreclosures
The Kingsbrooke townhouses under contract are still dominated by Short Sales. The high list price at time of contract fell on $90 since last month; high marketing time was 30% higher. The low list price at time of contract was 2.5% lower than it had been last month; low marketing time unchanged. Average list price at time of contract was just over 2% lower than it had been last month, but nearly 7.5% higher than it had been last year. Average marketing time was the same in May as it had been in April, but 64% improved compared to last year.
TOWNHOUSES SOLD IN KINGSBROOKE
2 Listings Sold: 1 Regular Sale, 1 Foreclosure
Two Kingsbrooke townhouses made it to settlement in May. The high sold price and low sold price were only separated by $1,000. High, low and average were within spitting distance of one another in May. The high sold price was, however, 10% lower than it had been last month and high marketing time 42% longer. The low sold price was 17.5% higher than it had been last month and low marketing time 50% shorter. The average sold price was over 1% lower than it had been last month, but over 15.5% higher than it had been last year. Average marketing time was unchanged at 10 days since last month and was 150% longer than it had been last year. Overall, things are looking up in the Kingsbrooke townhouse market.
The next Kingsbrooke Townhouse Report will be out in July and will detail sales from the month of June. If you are thinking of selling your Kingsbrooke townhouse, don't wait for that report. Now is the time. 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 May 2012, click the link provided.