Victory Lakes Townhouse Report: May 2012

Victory Lakes Townhouse Report:  May 2012

School's out for summer and folks are flocking to the Victory Lakes pool.  It's a great place to cool down.  Thank goodness our Victory Lakes townhouse market shows no signs of cooling down.  Let's take a look at the resale activity for the month of May and see how it stacks up against last report (April 2012) and last year (May 2011.)

TOWNHOUSES FOR SALE IN VICTORY LAKES

11 Listings were Active:  8 New Construction, 2 Short Sales, 1 Regular Sale

There were more Victory Lakes' townhouses on the market in May than there had been in April.  Four more to be exact.  As it has been since last year and beyond, the available inventory is dominated by new construction.  The high list price was 5% lower than it had been last month; low list price nearly 7.5% lower.  The average list price, however, was much less of a dramatic change.  Down nearly 1.5% since last month, but more importantly, UP 8% since last year.  As always, the best idea of market value comes from the sold column.  List prices are suggestions. 

TOWNHOUSES UNDER CONTRACT IN VICTORY LAKES

3 Listings were Under Contract:  2 Regular Sales, 1 New Construction

The Victory Lakes townhouses that were under contract in May were fewer in number compared to April, and were dominated by regular sales again.  This is a nice change, considering last year Short Sales ruled this category.  The high list price at time of contract was nearly 6% higher than it had been last month; high marketing time 72% improved.  The low list price at time of contract was nearly 9% higher than it had been in April; low marketing time unchanged at 3 days.  The average list price at time of contract was over 5% compared to last month, and 15% higher than it had been last year.  The average marketing time improved 45% since last month and 53% since last year.  These trends are great!

TOWNHOUSES SOLD IN VICTORY LAKES

8 Listings Sold:  4 New Construction, 3 Regular Sales, 1 Short Sale

When it comes to the townhouses in Victory Lakes that sold in the month of May, there is more good news, though it doesn't start with the high sold price.  The high sold price was over 7% lower than it had been in April, but high marketing time had improved 78%.  The low sold price was nearly 10% higher than it had been last month; low marketing time also improved by 31%.  Average sold price increased modestly, by over 2% compared to last month; up nearly 9% since last year.  Average marketing time improved in both comparisons:  77% shorter than it had been in April and over 19% shorter than last month.  

The next Victory Lakes Townhouse Report will be out in July and will detail sales from the month of June.  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 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 May 2012, click the link provided.