Kingsbrooke Single Family Home Report: August 2012
It's nice that fall has arrived to the Bristow area. I have been enjoying the cooler temps and am anxiously awaiting the brightly colored autumn foliage. And even though it's now the end of September, it's time to look back at the single family home market in Kingsbrooke for the month of August. Comparisons in this report will be made to last month (July 2012) and last year (August 2011.)
SINGLE FAMILY HOMES FOR SALE IN KINGSBROOKE
2 Listings were Active: 1 Regular Sale, 1 Short Sale
There were the same number of active listings in August as there were in July. And the theme of single family home inventory in Kingsbrooke being divided between Regular Sales and Short Sales continued. The high list price rose 32% compared to last month, primarily because there were no larger Kingsbrooke single family homes on the market in July. The low list price remained the same. The average list price was over 16.5% higher than it had been last month, again for reasons that now a larger single family home is averaged into the mix. The average list price was nearly 7% lower than it had been last year, which DOES take into account a mix of larger and smaller single family homes in Kingsbrooke.
SINGLE FAMILY HOMES UNDER CONTRACT IN KINGSBROOKE
2 Listings were Under Contract: 1 Regular Sale, 1 Short Sale
There was one less home under contract in August than there had been in July. The high list price at time of contract was over 26% lower than it had been last month, and the high marketing time was nearly 28% longer than it had been last month. The low list price at time of contract is unchanged, while low marketing time is 26% shorter than it had been last month. Average list price at time of contract decreased 20% compared to last month and decreased 10% compared to last year. Again, the sample for August 2012 included smaller single family homes in Kingsbrooke while last month's and last year's reports included at least one larger single family home under contract. The average marketing time was over 18% longer than reported last month and nearly 148% longer than it had been last year.
SINGLE FAMILY HOMES SOLD IN KINGSBROOKE
2 Listings Sold: Both Regular Sales
There was one less Kingsbrooke single family home that made it to settlement in August, compared to July. The high sold price was over 9% lower than it had been last month, while high marketing time was over 18% longer. The low sold price was 29% higher than last month, with low marketing time 25% shorter. The 
average sold price improved 10% compared to last month and over 13.5% since last year. Average marketing time increased by only slightly over 2% since last month (which equates to one day) and was 119% longer than it was one year ago.
Clearly, the time it is taking to sell a single family home in Kingsbrooke is increasing, but is not at all alarming in terms of days it takes to go under contract. And while this report shows big jumps and dives in percentages, the numbers are much more stable when comparing equivalent sized homes to one another.
The next Kingsbrooke Single Family Home Report will be out in October and will detail sales from the month of September. 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®
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 Townhouse Report for August 2012, click the link provided.
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