The Victory Lakes clubhouse will be bustling with activity soon of residents enjoying the community pool. Before the sounds of chilidren splashing and laughing in the pool carries us into summer vacation mode, let's take a look back at the Victory Lakes real estate market...specifically, the Victory Lakes townhouse market for the month of April 2011. Comparisons, unless otherwise noted, will be made to last report, March 2011.
VICTORY LAKES ACTIVE TOWNHOUSE LISTINGS
9 Active Listings
7 New Construction, 2 Foreclosures
High List Price was $362,310
Low List Price was $293,455
Average List Price was $318,169
There was one more active listing in April, than there had been in March. Again, the active listings are dominated by new construction, but have a couple foreclosures to compete with. The high list price in April was over $27,000 higher this month. Low list price was over $5,000 lower. Avearage list price was over $2,000 higher. As always, 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 Short Sales, 1 Foreclosure, 1 Regular Sale
High List Price at Time of Contract was $325,000
High Marketing Time was 92 Days
Low List Price at Time of Contract was $260,000
Low Marketing Time was 0 Days
Averaage List Price at Time of Contract was $289,975
Average Marketing Time was 47 Days
Two fewer listings were under contract during the month of April, compared to March. This is a category that seems to continually be dominated by Short Sales. While it is almost a certainty that there is new construction under contract, this type of sale usually goes from active straight to sold. The high list price at time of contract was over $25,000 higher; high marketing time the exact same as it was in March. Low list price at time of contract was over $15,000 higher this month; low marketing time the same at 0 days. Average list price at time of contract was over $20,000 higher; average marketing time 11 days longer.
VICTORY LAKES SOLD TOWNHOUSES
4 Listings Sold
All were New Construction
High Sold Price was $351,900
High Marketing Time wa 41 Days
Low Sold Price was $316,330
Low Marketing Time was 1 Day
Average Sold Price was $337,318
Average Marketing Time was 16 Days
Three fewer listings sold in April, compared to March. And the sold figures will be inflated compared to last month because all of the sales were new construction. The high sold price was over $30,000 higher; high marketing time decreased by 224 days. Low sold price increased over $51,000; low marketing time decreased by a week. Average sold price increased by over $37,000; average marketing time decreased by 100 days. Again, these sold figures are inflated if you are a Victory Lakes townhouse owner who is looking to sell. Resales do not get the same high dollar value as brand new construction.
The next Victory Lakes Townhouse Report will be out in June and will detail townhouse activity from the month of May. Until then, if you are thinking of selling your Victory Lakes townhouse, I'd be happy to help. I've been a full-time real estate agent since 2005 and a Short Sale Specialist since 2007. I can help you sell your Victory Lakes townhouse for maximum value no matter what your situation.
Chris Ann Cleland, Associate Broker, Licensed in Virginia, Long & Foster REALTORS®
703-402-0037, ChrisAnn@LNF.com
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