Victory Lakes Townhouse Report: April 2012
Seems unreal to me that we nearly halfway through the year. It's been a busy year so far in the Bristow real estate market and Victory Lakes is a big part of that. Since we have April fully behind us, let's take a look back at the Victory Lakes townhouse market and see how it stacks up to last report (March 2012) and last year (April 2011.)
TOWNHOUSES FOR SALE IN VICTORY LAKES
7 Listings were Active: All New Construction
New construction is continuing to dominate the available inventory in Victory Lakes' townhouses. At the end of April, there was nothing but new construction listings still active. The high list price increased nearly 9% since last month and the low list price increased over 6% since last month. The average list price for April was nearly 6% higher than it had been last month and was over 11% higher than it was last year. The buyer demand in our Bristow real estate market is definitely moving prices up. Of course, we'll always get the best idea of market value from the sold prices.
TOWNHOUSES UNDER CONTRACT IN VICTORY LAKES
9 Listings were Under Contract: 5 Regular Sales, 3 New Construction, 1 Short Sale
The Victory Lakes townhouses under contract in April were ruled by regular sales. The high list price at time of contract was unchanged and the high marketing time had improved by over 78%. The low list price at time of contract was 5.5% higher than it had been last month and the low marketing time improved bu 73%. Average list price at time of contract was slightly higher than last month, but was 13% higher than it had been last year. Average marketing time was 64% improved since last month and 15% improved since last year.
TOWNHOUSES SOLD IN VICTORY LAKES
6 Listings Sold: 3 New Construction, 2 Regular Sales, 1 Short Sale
New construction accounted for half of the settled transactions in April. The high sold price was 5% higher than it had been in March and the high marketing time was 853% longer. That number comes from a long held 
new construction listing that finally was marked as sold. The low sold price was nearly 3% lower than last month while low marketing time was 1,600% higher. The average sold price was over 1% higher than last month and nearly 4% higher than last year. Average marketing time was 510% longer compared to last month and 1,044% longer than it had been last year.
Victory Lakes townhouse owners need to understand that while they will compete with new construction for buyers when they sell, the numbers in this report, both sales price and marketing times, are skewed high as a result of new construction.
The next Victory Lakes Townhouse Report will be out in June and will detail sales from the month of May. Until then, if you want a free market analysis of your Victory Lakes townhouse, 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 most 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 Single Family Home Report for April 2012, click the link provided.
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