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Victory Lakes Townhouse Report: December 2011

By
Real Estate Agent with Long and Foster Real Estate VA License # 0225089470

Victory Lakes Townhouse Report:  December 2011

The temperature this winter in Victory Lakes is going up and down like a yo-yo.  One day it's below freezing and your grass crunches when you walk on it.  The next day you don't need a coat because it's in the low 60's.  As long as we have little to no snow, I'll be happy.  And so far, I'm happy.

With the last month of 2011 behind us we can take a look back at the Victory Lakes townhouse market.  We'll make comparisons to last report (November 2011) and last year (December 2010.)

TOWNHOUSES FOR SALE IN VICTORY LAKES

13 Listings were Active:  11 New Construction, 1 Regular Sale, 1 Short Sale

The number townhouses available to buy in Victory Lakes increased by four since last report.  As has been the case for the past year, new construction by Miller & Smith is dominating the available Victory Lakes townhouse inventory.  High list price was nearly 5% down since last report; low list price up over 15% since last report.  Average list price was down 2% since last report and up over 9% since last year.  The best idea of market value always comes from the sold column, so let's pay particular attention when we get there.

VICTORY LAKES TOWNHOUSES UNDER CONTRACT

7 Listings were Under Contract:  4 New Construction, 3 Short Sales

The number of Victory Lakes townhouses under contract was down 4 listings compared to last report.  Compared to last year, the number of listings under contract went up by 3 listings.  The high list price at time of contract was nearly 6% lower than last report, with high marketing time improved by 48% since last report.  Low list price at time of contract is unchanged since last report, but low marketing time got 267% longer since last report.  Average list price at time of contract is 0.4% higher than last report; down 0.8% since last year.  That's what I call stability.  As for average marketing time, it was 1.6% longer than it had been last report and 44% shorter than it had been last year.

TOWNHOUSES SOLD IN VICTORY LAKES

8 Listings Sold:  4 New Construction, 2 Regular Sales, 2 Short Sales

Since there was only sale in November 2011 and December 2010, we will be unable to compare anything but the averages.  The average sold price was 0.3% lower than it had been last month and 2.1% lower than it had been last year.  Average marketing time got 77% longer since last month and improved by 138% since last year.

The next Victory Lakes Townhouse Report will be out in February and will detail sales from January.  Until then,if you find yourself in need of real estate advice, don't hesitate to call.  I've been a full-time Bristow real estate agent, and Bristow home owner, since 2005.  I've been a Short Sale Agent since 2007.  No matter what your equity position, I can help you get the most money in the shortest amount of time for you Victory Lakes townhouse.  And I'd be happy to put together a free, customized market analysis of your townhouse's specific value in today's market.

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 information in the MRIS (Metropolitan Regional Information Systems.)

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What to know the value of Victory Lakes Single Family Homes?  Click the link for the Victory Lakes Single Family Home Report:  December 2011.

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