Victory Lakes Single Family Home Report: May 2012

Victory Lakes Single Family Home Report:  May 2012

Things have certainly heated up in Victory Lakes over the last few days.  Temperatures in the high nineties are making the pool a very inviting place.  Meanwhile, the Victory Lakes single family home market seems to have found some stability.  Let's take a look back at the single family home market for May 2012 in Victory Lakes.  We'll compare to what was happening last report (April 2012) and last year (May 2011.)

SINGLE FAMILY HOMES FOR SALE IN VICTORY LAKES

5 Listings were Active:  4 Regular Sales, 1 Short Sale

The overall picture in the single family homes available for sale in Victory Lakes has changed very little since last report.  We still had five active listings with the same number of regular sales and one short sale.  The high list price was unchanged and will likely stay unchanged until that listing lowers its price.  The low list price increased nearly 7% since last month.  The average list price was nearly 1% higher since last report, 17% higher since last year.  Of course, the best idea of market value doesn't come from homes that haven't been chosen by buyers.  It comes from those that have made it to the sold column, where we discover what buyers and sellers determined market value to be.

SINGLE FAMILY HOMES UNDER CONTRACT IN VICTORY LAKES

6 Listings were Under Contract:  5 Regular Sales, 1 Short Sale

There was more change in the under contract category.  We had a larger majority of regular sales under contract.  The high list price at time of contract was 5.5% lower than it had been in April, with an over 6.5% improvement in high marketing time.  The low list price at time of contract increased 14.5% since last month, low marketing time increased 500%, but was still not alarming at five days.  The average list price at time of contract was nearly 1% lower than it had been last month, but was over 3.5% higher than it had been last year.  Average marketing time was unchanged since last month and improved over 7% since last year.

SINGLE FAMILY HOMES SOLD IN VICTORY LAKES

5 Listings Sold:  3 Regular Sales, 1 Short Sale, 1 Foreclosure

There was much more activity in the sold column compared to April.  And because April only saw one home making it to settlement, we'll only compare averages here.  The average sold price was virtually unchanged, being $20 higher than it was last month.  Average sold price did increase over 4% since last year.  Average marketing time was 1,900% higher than it had been last month, but still very good at twenty days.  The average marketing time since last year improved 63%.

The next Victory Lakes Single Family Home Report will be out in July and will detail sales from the month of June.  Until then, if you want to investigate your home's worth in today's market, give me a call for a free market analysis.  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 the most money in the shortest amount of time for your Victory Lakes home.

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 May 2012, click the link provided.