Victory Lakes Single Family Home Report: April 2012
Tropical Storm Alberto is going to dumping some rain on Victory Lakes, but that's going to cool down our real estate market. With April behind us, let's take a look back at single family home sales in Victory Lakes and compare the activity to last report (March 2012) and last year (April 2011.)
SINGLE FAMILY HOMES FOR SALE IN VICTORY LAKES
5 Listings were Active: 4 Regular Sales, 1 Short Sale
There were five active listings in April. Considering there were none in March, that's an improvement for buyers who are desperately searching for Bristow homes. Since we have no comparison to average list price to make to last month, we can only look to the 15.5% increase in average list price since last year. That's great news and the market demand for Victory Lakes homes is the reason. As always, the best idea of market value will come from the sold column.
SINGLE FAMILY HOMES UNDER CONTRACT IN VICTORY LAKES
6 Listings were Under Contract: 3 Regular Sales, 2 Short Sales, 1 Foreclosure
There was one more listing under contract this month than there had been last month. We are seeing more of an even combination of short sales and regular sales, versus the domination of short sales we saw a year ago. The high and low list prices at time of contract remain unchanged since last month, as does the high and low marketing time. The average list price at time of contract has increased 3.5% since last month and over 2% since last year. The average marketing time was 24% longer than it had been in March, but was 21% improved compared to last year.
SINGLE FAMILY HOMES SOLD IN VICTORY LAKES
1 Listing Sold: A Short Sale
Only one home made it to settlement in April. It was a short sale and it's final price of $475,000 is all we have to compare to last month and last year, so we'll stick to comparing that to the averages. Compared to last month this is nearly a 2% increase in value and a 97% improvement in marketing time. Compared to last year, this is a 14% increase in value and a 99% improvement in marketing time. I suspect we will see more solds in May and a more accurate average.
The next Victory Lakes Single Family Home Report will be out in June and will detail sales from May. Until then, if you would like a free market analysis of your Victory Lakes home, give me a call. I've been a full-time Bristow real estate agent since 2005 and a Short Sale Agent since 2007. No matter what your equity position I can get your home sold for the maximum amount of money in the shortest period of time.
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 the MRIS (Metropolitan Regional Information Systems.)
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To see the Victory Lakes Townhouse Report for April 2012, click the link provided.
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