It is hard to believe that we are nearly one month in to 2011. Before we forget 2010, let's take a look back to the townhouse resale market in Bristow, Virginia's community of Victory Lakes. Comparisons will be made to the prior report (November 2010) also referred to as last month.
VICTORY LAKES ACTIVE TOWNHOUSE LISTINGS
10 Active Listings
5 New Construction, 2 Short Sales, 2 Regular Sales
High List Price was $326,990
Low List Price was $259,900
Average List Price was $299,728
New construction continues to dominate the active townhouse listings in Victory Lakes. There were 3 more listings this month than last month. The high list price was $3,000 higher this report. Meanwhile the low list price was over $30,000 lower than the previous month. Average list price was nearly $11,000 lower this report. Of course, SOLD prices are always the best indicator of market value since list prices are suggestions.
VICTORY LAKES TOWNHOUSES UNDER CONTRACT
4 Listings were Under Contract
2 New Construction, 2 Short Sales
High List Price at Time of Contract was $316,290
High Marketing Time was 57 Days
Low List Price at Time of Contract was $274,500
Low Marketing time was 32 Days
Average List Price at Time of Contract was $296,465
Average Marketing Time was 43 Days
There was one more listing under contract this month compared to November. And this time, they were a mixture of Short Sales and New Construction. The high list price at time of contract was over $31,000 higher this report; high marketing time the same. Low list price at time of contract was $24,500 higher this report; low marketing time 5 days higher this report. Average list price at time of contract was over $27,000 higher this report; average marketing time was 1 day shorter this report.
VICTORY LAKES SOLD TOWNHOUSES
1 Listing Sold
A New Construction
High Sold Price was $312,540
High Marketing Time was 29 Dyas
Low Sold Price was $312,540
Low Marketing Time was 29 Days
Average Sold Price was $312,540
Average Marketing Time was 29 Days
Only listing sold this month, compared to 8 selling in November. So in this case, we'll just compare averages. The average sold price for December was less than $7,000 lower than the average sold price in November. That's not a huge decrease, and being based only on one sale, it's not a trend either. Average marketing time was 16 days shorter since last month.
The next Victory Lakes Townhouse Report will be out in February and will detail townhouse sales from the month of January. If you'd like a no obligation, personalized market analysis of your Victory Lakes townhome's value, please give me a call. I've been a full-time Bristow Realtor® since 2005 and a Short Sale Specialist since 2007. I have the local market expertise that can help you stay ahead of the game.
Chris Ann Cleland, Associate Broker, Licensed in Virginia, Long & Foster REALTORS®
703-402-0037, chrisann@LNF.com
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