Kingsbrooke Townhouse Report: January 2012

Kingsbrooke Townhouse Report: January 2012

Maybe Punxsutawney Phil was right when he predicted six more weeks of winter on Groundhog Day this year. The wind is sounding evil tonight as it blows through Kingsbrooke. Seems Old Man Winter is back to blow around some snow and settle below freezing temps over Bristow. Brrrrrrrrr. Who knew it would be this cold in February given the mild temperatures to date?

With January behind us, let's take a look back to Kingsbrooke townhouse sales for the first month of 2012. We'll make our comparisons to last report (December 2011) and last year (January 2011.)

KINGSBROOKE TOWNHOUSES FOR SALE

2 Listings were Active: 1 Foreclosure, 1 Short Sale

There was double the amount of available inventory on the market in Kingsbrooke townhouses as January came to a close, compared to December. Still, the Kingsbrooke townhouse market is dominated by distressed sales. Since there was only one home available for sale last report, we'll stick to comparing averages. The average list price was 8% in January than it had been last report. And since there were no active listings in January 2011, we have no year to year comparison.

KINGSBROOKE TOWNHOUSES UNDER CONTRACT

4 Listings were Under Contract: 2 Regular Sales, 1 Foreclosure, 1 Short Sale

The Kingsbrooke townhouses under contract rose in January by one compared to December. This is a category evenly split between regular sales and distressed sales. The high list price at time of contract was 15% higher and high marketing time was 94% faster than it had been last report. The low list price at time of contract was 41% higher and low marketing time 700% slower than last report...though the increase to 8 days on the market is certainly nothing to worry over. The average list price at time of contract was 23% higher than last report and 18% than last year. Average marketing time was 85% faster than last report and 300% faster than last year.

TOWNHOUSES SOLD IN KINGBROOKE

2 Listings Sold: 1 Foreclosure, 1 Short Sale

Only distressed sales of Kingsbrooke townhouses made it to settlement in January. The high sold price was 12% lower, and high marketing time 239% longer than it had been last report. The low sold price was 20% lower and low marketing time 63% longer than it had been last report. The average sold price was 16% lower than last report and down only 6% compared to last year. The average marketing time was 200% longer than last report and 221% longer than it had been last year.

Overall, the demand is still high for Kingsbrooke townhouses, so if you have one to sell, my advice is to get it on the market before everyone else does when the weather warms and flowers start blooming. The laws of supply and demand are on your side right now if you want the best possible shot at getting the highest sales price for your Kingsbrooke townhouse.

The next Kingsbrooke Townhouse Report will be out in March and will detail sales from February. Until then, if you want a free market analysis of your specific home's value, I'm more than 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 Single Family Home Report for January 2012, click the link provided.