Kingsbrooke Single Family Home Report: July 2012
All right. All right. I know that this report detailing sales of single family homes in Kingsbrooke for the month of July is late. For goodness sake, the month of August has a little more than one day left. That doesn't make the information any less accurate. So without further delay, let's get to it. We'll make our comparisons to last month (June 2012) and last year (July 2011.)
SINGLE FAMILY HOMES FOR SALE IN KINGSBROOKE
2 Listings were Active: 1 Regular Sale, 1 Short Sale
There was half the available inventory in July as there had been in June. And in July, it was a mix of a Regular Sale and a Short Sale. The high list price was 37.5% lower than it had been last month. The low list price was 14% lower. Than average list price was nearly 31% lower than it had been last month and was nearly 17% lower than last year. The difference between the high and average from month to month has primarily to do with the fact that the smaller single family homes in Kingsbrooke made up the available inventory. There is a HUGE price difference between a large single family home and a smaller single family home that has the square footage of a large townhouse.
SINGLE FAMILY HOMES UNDER CONTRACT IN KINGSBROOKE
3 Listings were Under Contract: 2 Regular Sales, 1 Short Sale
The single family homes under contract in Kingsbrooke in July were primarily made up of Regular Sales. That's unlike the previous month or looking back to last year when Short Sales dominated the category. The high list price at time of contract was 10% higher, high marketing time nearly 73% shorter, compared to last month. The low list price at time of contract and low marketing time were unchanged compared to last month. The average list price at time of contract was nearly 18% improved since last month and nearly 7% improved since last year. The average marketing time was 51% shorter when compared to last month, but 100% longer than it had been one year ago. Of course, the best idea of market value comes from the sold column, so we'll wait for future reports to see how the SALE prices fall out.
SINGLE FAMILY HOMES SOLD IN KINGSBROOKE
3 Listings Sold: 2 Regular Sales, 1 Short Sale
The sold column has been dominated by regular sales when looking back a month, or back a year. The high sold price was over 8% higher than it had been in June; high marketing time was over 96% longer. The low sold price was nearly 6% lower while low marketing time increased an amazing 1700% compared to last
Marketing time is definitely taking longer than it had previously been taking. As for home values, a more specific view of your particular home's value would be more useful if you are considering a move. You can't go on highs, lows and averages from this report as home sizes vary widely in Kingsbrooke. month. The average sold price was over 5% lower than last month and barely over 1% lower than last year. The average marketing time was 309% longer compared to last month and 350% longer than last year.
The next Kingsbrooke Single Family Home Report will be out in September and will detail sales from the month of August. Until then, if you are thinking of selling your Kingsbrooke home, give me a call for a free market analysis. 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 you the most for your home 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 Townhouse Report for July 2012, click the link provided.