Kingsbrooke Single Family Home Report: January 2012

Kingsbrooke Single Family Home Report: January 2012

Kingsbrooke's mild winter continues, despite the predictions of Punxsutawney Phil on Groundhog Day. I for one am really enjoying the mild temps. It's giving me an opportunity to start the walking regimen I had planned for spring.

That brings me to my next point: As far as the Bristow real estate market is concerned, spring is here. All we need to do is take a look back at the market activity for January 2012 to see that demand for Kingsbrooke single family homes is high. We'll compare what we find to last report (December 2011) and last year (January 2011.)

KINGSBROOKE SINGLE FAMILY HOMES FOR SALE

1 Listing was Active: A Regular Sale

There is a definite inventory shortage when it comes to Kingsbrooke single family homes. This time last year there were five homes on the market. Last month there were two. This month we are down to one. And since there's only one, let's compare averages. The average list price was down 9% since last report and up over 11% since last year. Now is the time for Kingsbrooke home sellers to get their homes on the market for the best shot at getting the springs highest and best offers.

KINGSBROOKE SINGLE FAMILY HOMES UNDER CONTRACT

6 Listings were Under Contract: 4 Short Sales, 2 Regular Sales

Short sales have dominated the listings under contract in Kingsbrooke for a long time. In January, we saw the high list price at time of contract increase over 31%, while high marketing time remained unchanged...all since December. The low list price at time of contract was the same as it was last report, while low marketing time was 94% faster. Average list price at time of contract increased 12% since last report and 4% since last year. Average marketing time to get under contract was 22% faster than last report, but oddly unchanged since last year.

SINGLE FAMILY HOMES SOLD IN KINGSBROOKE

2 Listings Sold: Both Regular Sales

There were double the number of Kingsbrooke single family homes that made it to the sold column in January, compared to December. Since December only saw one home sold, we'll stick to comparing averages. The average sold price was up 40% since last report. Not surprising since only a small Kingsbrooke home had sold in December. The average marketing time was 4% longer than it was in December. Compared to last year, the average sold price increased a modest 2% and the average marketing time was 40% longer.

I will reiterate that the Bristow spring real estate demand is happening right now. Buyers are looking for single family homes in Kingsbrooke TODAY! Don't wait until your neighbors put their home on the market. If you want to sell, do it now while supply is down and inventory is down. It's your best shot at getting the highest prices the spring will see.

The next Kingsbrooke Single Family Home Report will be out in March and detail activity from February. Until then, if you want a free market analysis of your home's value in today's market, I'm happy to provide it. 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 happens to be.

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 January 2012, click the link provided.