Victory Lakes Single Family Home Report: November 2011

Victory Lakes Single Family Home Report:  November 2011

The holiday lights are sparkling at night in Victory Lakes.  Looks like there are a lot of folks in the holiday spirit and it really makes the neighborhood look great!  Before we get lost in the hustle and bustle of the holiday season, let's take a look back at the real estate market for single family homes in Victory Lakes for the month of November 2011.  Comparisons will be made to last report (October 2011) and to last year's report (November 2010.)

SINGLE FAMILY HOMES FOR SALE IN VICTORY LAKES

3 Active Listings:  2 Short Sales, 1 Regular Sale

Looking back to last month, we see a reversal in the fact that Short Sales have the majority of active listings again.  Surprisingly, the case was the same one year ago with Short Sales dominating the active listings of single family homes in Victory Lakes.  The high list price has decreased over 12% and there's been no change in the low list price since last month.  Average list price, however, only decreased 2.5% since last month and has decreased nearly 4% since last year.

SINGLE FAMILY HOMES UNDER CONTRACT IN VICTORY LAKES

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

There was a slight decrease in the number of Victory Lakes single family homes under contract during the month of November, compared to October.  Looking back in time, this is a category that has been, and continues to be, dominated by Short Sales.  High list price at time of contract was unchanged since then, as was the high marketing time.  Low list price at time of contract decreased 4% compared to last month, while the low marketing time was unchanged.  Average list price at time of contract increased 0.2% since last month while average marketing time remained the same.  Looking back to last November, the average list price at time of contract has increased over 5% and the average marketing time has improved by 24.5%.

SINGLE FAMILY HOMES SOLD IN VICTORY LAKES

2 Listings Sold:  1 Regular Sale, 1 Short Sale

There were more sales in November than October.  Not hard to do since October only saw one sale.  November doubled that.  Since there was only one Victory Lakes single family home that made it to settlement in October, it makes sense to cut the comparisons to averages only.  The average sold price decreased over 12% since last month.  The good news is average marketing time improved by over 63%.  Looking back to last November, the average sold price gained nearly 4% of its value and average marketing time improved by nearly 49%.

The demand for single family homes in Victory Lakes is still strong.  To make the best of the Bristow real estate market, a Victory Lakes home owner would be wise to hire an experienced Short Sale Agent.  That advice even goes to the home owners with equity.  Who understands your Short Sale competition better than an experienced Bristow Short Sale Agent? 

The next Victory Lakes Single Family Home Report will be out in January and will detail sales from the month of December.  Until then, I wish you all a Happy Holiday!  And if you have a real estate need between now and then, don't hesitate to call.  I've been a full-time Bristow real estate agent and Bristow home owner since 2005.  I've been a Bristow Short Sale Agent since 2007.  No matter what your equity position, I know how to get your home sold for the highest dollar amount in the shortest amount of time.

Chris Ann Cleland, Associate Broker-Licensed in Virginia, 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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What to know the value of Victory Lakes Townhouses?  Click the link for the Victory Lakes Townhouse Report:  November 2011.