VICTORIA PARK TOWN HOME VALUE TREND UP CONTINUES

By
Real Estate Broker/Owner with Coast Counties Realty

Victoria Park Town Home Property value on a Closed Sale Price per Living Area basis ($/LIVsqft) has continued increasing since the July 2010 historical low ($62.79/LIVsqft).  The historical high was March 2006 ($632.17).  The average of the ten March closed sales is $142.27; the average of the eight in April is $159.55.  One town home sold in May for $207.99/LIVsqft ($625,000).  The 20 pending sales average $171.51; discounts have dwindled to less than 10% in the last three months.  The average closed sale price during the last six months ($151.77) is below the 24 month average ($156.43); conversely, the last six months average price ($359,517) is slightly higher than the 24 month average, ($358,379).  Among the 28 current listings (average $241.31/LIVsqft, $652,318), none is priced below market (24, 12, and six month closed sale price averages).  New listing prices are trending higher.  While market activity during the last six months is good (48 listings, 30 closings), in May four town homes were listed for sale and only one sold.
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