Victory Lakes Townhouse Report: June 2012
Today I am thankful for some cloud cover and cooler temps in Victory Lakes. This summer has been quite steamy and we've got more than two months left of "official" summer. With June behind us, let's take a look back at the Victory Lakes Townhouse market. We'll make comparisons to last report (May 2012) and last year (June 2011.)
TOWNHOUSES FOR SALE IN VICTORY LAKES
11 Listings were Active: 6 New Construction, 3 Regular Sales, 2 Short Sales
Once again, new construction was dominating the active listings in Victory Lakes townhouses. The high list price was slightly lower, but not measurably, compared to last month. The low list price was over 1.5% lower than it had been in May. Finally, the average list price was 2% lower than it had been last month, but nearly 6% improved since last year. As always, the best idea of market value will come from the sold column, and sales that are NOT new construction.
TOWNHOUSES UNDER CONTRACT IN VICTORY LAKES
5 Listings were Under Contract: All New Construction
New construction also dominated those Victory Lakes townhouses under contract, which is rare. The high list price at time of contract was the same as last month, but high marketing time was 345% longer than it had been last month. The low list price at time of contract was nearly 12% higher than it had been last month, with low marketing time getting 767% longer. The average list price at time of contract was 6% improved compared to last month and nearly 13% improved since last year. The average marketing time was 287% longer than it had been in May, but only 187% longer than it had been last June.
TOWNHOUSES SOLD IN VICTORY LAKES
2 Listings Sold: Both Regular Sales
It was nice to see the sold column contain all regular sales in June. The high sold price was $nearly 16% lower than it had been in May, with high marketing time 86% shorter. The low sold price was 9% higher than it had been last month and low marketing time was 73% shorter. Average sold price was nearly 6% lower compared to last month, but 9.5% improved since last year. Average marketing time was 69% improved since last month and 75% improved since last year.
All in all, the trends in Victory Lakes townhouses are good ones. The market demand is steady and prices seem to be stable. I believe the increases and decreases we see in price are what comes from mixing in more and less new construction. We all know new construction will sell for more than a resale. So when selling your Victory Lakes townhouse it is important to look past new construction for your market comparables.
The next Victory Lakes Townhouse Report will be out in August and will detail sales from the steamy month of July. Until then, if you are thinking of selling your Victory Lakes townhouse, I would be happy to put together a free market analysis of your specific home's value in today's market. 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.)
To see the Victory Lakes Single Family Home Report for June 2012, click the link provided.
Chris Ann Cleland, Associate Broker- Licensed in Virginia, GRI, SFR, Northern Virginia Short Sale Specialist. Affiliated with Long & Foster, 7526 Limestone Drive, Gainesville, VA 20155. To contact Chris Ann, call 703-402-0037 or email chrisann@LNF.com. Or you can visit her website: www.nvarealestate.net.
Header photos taken by Chris Ann Cleland.
The opinions expressed in this post are those of Chris Ann Cleland, not those of Long & Foster REALTORS®.