Kingsbrooke Townhouse Report: May 2014
Summer is here and spring is a memory. Kids are splashing in the Kingsbrooke community pool and the Sea Lions are competing against other neighborhood teams. In these last days of June, let's take a look back at the Kingsbrooke townhouse market and see what happened to values in May. We will make comparisons to last month (April 2014) and last year (May 2013.)
TOWNHOUSES FOR SALE IN KINGSBROOKE
1 Listing was Active: A Regular Sale
There was only one active listing at the end of May, same as it was at the end of April. With that in mind, we'll take our one value and compare to averages. The average list price was up nearly 7.5% since last month and up nearly 7.5% since last year. Lack of active inventory means now would be a good time to sell. As for the values, we get the best idea of market value from the SOLD column.
TOWNHOUSES UNDER CONTRACT IN KINGSBROOKE
4 Listings were Under Contract: 3 Regular Sales, 1 Short Sale
There were half the number of Kingsbrooke townhouses under contract last month, as there had been in April. The high list price at time of contract was down nearly 9.5%, but the high marketing time was 74% shorter. Definitely a good news, bad news thing happening there. The low list price at time of contract and low marketing time were unchanged month to month. The average list price at time of contract was down over 4.5% since last month and down over 5.5% since last year. The average marketing time was 50% faster since last month and 67% faster since last year. Again with the good news, bad news.
TOWNHOUSES SOLD IN KINGSBROOKE
8 Listings Sold: 7 Regular Sales, 1 Foreclosure
With eight Kingsbrooke townhouses selling, compared to one last month and two last year, it seeems that flood gates opened in May. Let's look across the averages. The average sold price was nearly 4.5% higher than it had been last month and was 10.5% higher than last year's. The average marketing time was 2,500% longer than it was last month, which equates from going to 0 to 25 days. The average marketing time was 108% longer than it had been last year.
The next Kingsbrooke Townhouse Report will be also be out in July and will detail sales from the month of June. 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 can get you the most for your home in the shortest period of time.
And don't forget to join the Kingsbrooke neighborhoodFacebook group. It is a great place to connect with neighbors and always have access to neighborhood property value reports.
To view the Kingsbrooke Single Family Home Report for May 2014, click the link provided.
Statistics compiled by Chris Ann Cleland using the MRIS (Metropolitan Regional Information Systems.)
Chris Ann Cleland, Associate Broker-Licensed in VA
2013 Top Producing Agent & 2013 Top Selling Agent, Long & Foster REALTORS® Gainesville, VA
The opinions expressed in this post are those of Chris Ann Cleland, not those of Long & Foster REALTORS®.