Victory Lakes Townhouse Report: January 2012

Victory Lakes Townhouse Report:  January 2012

Winter in Victory Lakes this year is like a yo-yo.  One day it feels like spring, the next you are freezing your rear end off.  Luckily, we're seeing much more stability in the Victory Lakes townhouse market.  Let's take a look back at the sales activity from the first month of the year.  We'll make comparisons to last report (December 2011) and last year (January 2011.)

TOWNHOUSES FOR SALE IN VICTORY LAKES

11 Listings were Active:  8 New Construction, 3 Regular Sales

There were fewer townhouses on the market in January than there were in December.  This remains a category dominated by new construction.  The high list price was 10% lower than it had been last report and the low list price was 11% higher.  The average list price was virtually unchanged, though slightly higher than it had been in December.  The average list price was up 8% compared to last year.  The market is still gobbling up well priced regular sales.  Some buyers can not see paying the premium price for new construction, so don't let Miller & Smith keep you off the market.

VICTORY LAKES TOWNHOUSES UNDER CONTRACT

11 Listings were Under Contract:  6 New Construction, 3 Short Sales, 2 Regular Sales

The townhouses under contract in Victory Lakes were higher than they were last report or last year.  This is a category that also seems dominated by new construction, with a fair share of Short Sales thrown in.  The high list price at time of contract was 12% higher and the high marketing time 14% faster than it had been last report.  Low list price at time of contract was unchanged and low marketing time improved by 77% compared to last report.  Average list price at time of contract was 7% higher than last report and 16% higher than last year.  Average marketing time was 24% faster than last report and 8% faster than last year.  Our best idea of market value comes when these listings under contract go to settlement so we can see what their sales price was.

TOWNHOUSES SOLD IN VICTORY LAKES

3 Listings Sold:  2 New Construction, 1 Short Sale

There were fewer sales in January compared to December.   The high sold price was 5% down and high marketing time 59% faster than last report.  Low sold price was 7% higher and low marketing time over 400% slower than it had been in December.  Average sold price was higher than last report, though hardly measurably.  The average sold price was 3% lower than it had been last year.  Average marketing time was 13% improved compared to last report and 67% longer than last year.

The next Victory Lakes Townhouse Report will be out in March and will detail sales from February.  Until then,if you find yourself in need of real estate advice, 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 Short Sale Agent since 2007.  No matter what your equity position, I can help you get the most money in the shortest amount of time for you Victory Lakes townhouse.  And I'd be happy to put together a free, customized market analysis of your townhouse's specific value in today's market.

Chris Ann Cleland, Associate Broker-Licensed in VA, Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com, www.NVARealEstate.net, www.SpeakingOfHomes.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 Single Family Homes?  Click the link for the Victory Lakes Single Family Home Report:  January 2012.