Kingsbrooke Townhouse Report: November 2011

Kingsbrooke Townhouse Report: November 2011

As I post this Kingsbrooke Townhouse Report there are only ten shopping days left until Christmas. Makes your stomach flip to think about all the stuff that still needs to get done before the holiday, doesn't it? Well, what's making my stomach flip this December is what I'm seeing when going over the Kingsbrooke townhouse market for November. We have a legitimate inventory shortage. We'll discuss as we get into the nitty gritty of the report. Comparisons will be made to last report (October 2011) and last year (November 2010.)

KINGSBROOKE TOWNHOUSES FOR SALE

1 Listing was Active: A Short Sale

There was only one active listing during the month of November for Kingsbrooke townhouses. In fact, that listing has since gone under contract. Since there was only one active listing, we'll compare averages. And we can only compare to October because there were no active Kingsbrooke townhouse listings last November either. The average list price decreased 30%. As for it being a Short Sale, that is no surprise. The Kingsbrooke townhouse market is no stranger to Short Sales or Foreclosures.

KINGSBROOKE TOWNHOUSES UNDER CONTRACT

5 Listings were Under Contract: 2 Foreclosures, 2 Short Sales, 1 Regular Sale

The under contract category saw the most listings in November. The high list price at time of contract was unchanged compared to last month, but the high marketing time improved nearly 61%. The list list price at time of contract was over 7% higher than it had been in October, while even the low marketing time improved by 38%. The average list price at time of contract increased over 13% since last month and the average marketing time improved by exactly 50%. When compared to last year at this time, the average list price at time of contract improved nearly 11%, while the average marketing time improved over 32%. What helps get Kingsbrooke Short Sales out of the under contract category and into the sold column is an experienced Bristow Short Sale Agent.

TOWNHOUSES SOLD IN KINGSBROOKE

1 Listing Sold: A Short Sale

Since there was only one Kingsbrooke townhouse sold in November, we'll only look at the averages. And at that, we can only compare to last year's report. There were no sales in the month of October. The average sold price has decreased by nearly 15% since last year. Nothing to panic about. With a few more sales, this number is bound to go back up. The average marketing time, reflected this report by one Short Sale, was 495% longer than it had been last year. Again, an experienced Bristow Short Sale Agent can help get your Kingsbrooke Short Sale sold quickly.

The next Kingsbrooke Townhouse Report will be out in January and will detail sales from the month of December. Until then, enjoy your holiday season and if the need to discuss the market in more detail arises give me a call. I'm happy to do a free market analysis of your specific home's value in the Kingsbrooke townhouse market. As a full-time Bristow real estate agent and Bristow home owner since 2005, and a Bristow Short Sale Agent since 2007, I can help get your Kingsbrooke townhouse sold 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.)

__________________________________________

To see the Kingsbrooke Single Family Home Report for November 2011, click the link.