Kingsbrooke Single Family Home Report: November 2011

Kingsbrooke Single Family Home Report: November 2011

Residents of Kingsbrooke in Bristow, VA are definitely getting in the holiday spirit. The decorations on the homes is very uplifting. With November behind us, let's take a look back at the Kingsbrooke single family home market and see what happened. We'll make comparisons to last report (October 2011) and last year (November 2010.)

KINGSBROOKE SINGLE FAMILY HOMES FOR SALE

5 Listings were Active: 3 Regular Sales, 2 Short Sales

There were the same number of active listings in November, as there had been in October. In fact, there were exactly five active Kingsbrooke single family homes on the market last year. The active listings continue to be dominated by Regular Sales. The high list price decreased just over 2% since last month; low list price decreased just over 13% since last month. The average list price decreased 12.5% since last month, but increased nearly 4% since last year. There are two important things to note. First, list prices are suggestions. The best idea of market value comes from the sold column. Second, there are a variety of home sizes in Kingsbrooke and this report, with the exception of the sold, is heavy with the smallest of the single family homes in the neighborhood.

KINGSBROOKE SINGLE FAMILY HOMES UNDER CONTRACT

4 Listings were Under Contract: 3 Short Sales, 1 Regular Sale

The single family homes under contract in Kingsbrooke numbered four. That's the same as the prior month and last year. And unlike the active listings, the under contract listings have been dominated by Short Sales in all three reporting periods. The high list price at time of contract and high marketing time are unchanged since last month. The low list price at time of contract is unchanged since last month, but the low marketing time has lengthened by nearly 38% since last month. The average list price at time of contract increased less than 1/2% since last month and decreased over 12% since last year. The average marketing time lengthened in both comparisons: up nearly 12% since last month and up over 171% since last year.

SINGLE FAMILY HOMES SOLD IN KINGSBROOKE

1 Listing Sold: A Regular Sale

There aren't a lot of Kingsbrooke single family homes making it to the sold column. Since we only have one to report for November, we'll only compare averages to last month. We can't make any comparisons to last year since there were no sales in November 2010. The average sold price increased over 32% since last month. Not surprising considering the smallest of the single family homes in Kingsbrooke accounted for sales last month. The average marketing time lengthened by a whopping 833%. That's not good news. Kingsbrooke single family homes are definitely taking longer to sell.

The next Kingsbrooke Single Family Home Report will be out in January and will detail sales from the month of December. Until then, with so much variety in Kingsbrooke home sizes, if you want the best of of your individual home's value, call me for a free customized market analysis. I've been a Bristow home owner and full-time Bristow real estate agent since 2005. And being a Short Sale Agent since 2007 means I can help you sell no matter what your equity position.

Chris Ann Cleland, Associate Broker--Licensed in VA, Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com, www.NVARealEstate.net

Statistics compiled by Chris Ann Cleland using information in the MRIS (Metropolitan Regional Information Systems.).

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To see the Kingsbrooke Townhouse Report for November 2011, click the link.