Spring has hit Victory Lakesin Bristow, VA. Though it's been a bit soggy so far, the temps are warming up and when the sun is shining, the days are longer. So with February behind us, let's take a look back at the Victory Lakes Townhouse resale market and see how prices are doing. Comparisons will be made to last report, January 2011.
VICTORY LAKES ACTIVE TOWNHOUSE LISTINGS
11 Active Listings
6 New Construction, 5 Short Sales
High List Price was $336,690
Low List Price was $260,000
Average List Price was $296,375
The Victory Lakes townhouse market certainly has a good amount of inventory, with three additional active listings since last month. The high list price is nearly $4,000 higher than January. Low list price is the same. Average list price is nearly $6,000 less than it was last month. As always, SOLD prices are always the best indicator of market value since list prices are suggestions. For now, it's nice to see that Buyers in Victory Lakes have choices. However, with the choices between new construction and short sales, there is a wait no matter which way you decide to go.
VICTORY LAKES TOWNHOUSES UNDER CONTRACT
3 Listings were Under Contract
2 Short Sales, 1 Foreclosure
High List Price at Time of Contract was $299,900
High Marketing Time was 53 Days
Low List Price at Time of Contract was $265,000
Low Marketing Time was 16 Days
Average List Price at Time of Contract was $283,000
Average Marketing Time was 39 Days
The was one additional listing under contract for February than there was in January. They are all distressed sales of one form or another. The high list price at time of contract increased nearly $15,000; high marketing time was the same. Low list price at time of contract was about $5,000 higher; low marketing time was 33 days shorter. Average list price at time of contract was over $10,000 higher than it was in January. Average marketing time was 12 days shorter. This all points toward positive movement in the Victory Lakes townhouse marketplace.
VICTORY LAKES SOLD TOWNHOUSES
5 Listings Sold
4 New Construction, 1 Short Sale
High Sold Price was $350,830
High Marketing Time was 113 Days
Low Sold Price was $255,000
Low Marketing Time was 27 Days
Average Sold Price was $309,184
Average Marketing Time was 46 Days
Two more Victory Lakes townhouses sold during February than sold in January. New construction sales dominated February. The high sold price was nearly $8,000 more than it was last month; high marketing time more than double than January. Low sold price was $20,000 lower; low marketing time 12 days longer. Average sold price was over $17,000 lower and average marketing time was 10 days longer. Clearly, with so much new construction in the sold column, these numbers are skewed for existing Victory Lakes townhouse owners who may be looking to sell. Resales should always be compared to resales.
The next Victory Lakes Townhouse Report will be out in April and will detail the sales from March. Until then, if you are thinking of selling your Victory Lakes townhouse, I'd be happy to help. I've been a full-time real estate agent since 2005 and a Short Sale Specialist since 2007. No matter your situation, I can sell your home for it's maximum value.
Chris Ann Cleland, Associate Broker, Licensed in Virginia, Long & Foster REALTORS®
703-402-0037, ChrisAnn@LNF.com
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