Kingsbrooke Townhouse Report: July 2012
This is the last weekend to get out and enjoy the Kingsbrooke community pool. Bummer, right? Bigger bummer for kids is that school starts right after Labor Day. Summer is just about done. Before we leave August, let's look back at July and see how the Kingsbrooke townhouse market fared. We'll make comparisons to last month (June 2012) and last year (July 2011.)
TOWNHOUSES FOR SALE IN KINGSBROOKE
2 Listings were Active: 1 Regular Sale, 1 Short Sale
There was double the number of townhouses for sale in Kingsbrooke in July as there had been in June. Nice to see a Regular Sale in the mix after seeing so many Short Sales and Foreclosures on the market. Since there was only one townhouse on the market in the previous month, we'll compared averages only across the board. The average list price was over 23% higher than it had been last month and was 23% higher than it had been last year. As always, the best idea of market value comes from the sold column so let's pay close attention when we get there.
TOWNHOUSES UNDER CONTRACT IN KINGSBROOKE
2 Listings were Under Contract: Both Short Sales
Short Sales continue to dominate the Kingsbrooke townhouses that are pending sale. The high list price at time of contract was over 11% lower than it had been last month, while in the same time frame the high marketing time increased by 467%. The low list price at time of contract was unchanged compared to last month , but the low marketing time was 400% longer than it had in June. The average list price at time of contract was over 6% lower compared to last month, but hardly changed at all compared to last year. The average marketing time was 400% longer compared to last month, but 31% shorter than it had been last year. Now let's see what the sold column tells us.
TOWNHOUSES SOLD IN KINGSBROOKE
Surprisingly, Short Sales dominated the sold column. The high sold price was only down over 2% since last month, while high marketing time was 70% shorter. The low sold price was only 4% lower than last month and low marketing time was cut in half. The average sold price was nearly unchanged in comparison to last month and was over 16% higher than it had been last year. The average marketing time was 67% shorter than it had been last month and was 75% shorter than it had been last year. It is nice to see improvements over the course of a year and stability when looking back to last month.
The next Kingsbrooke Townhouse 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 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 July 2012, click the link provided.