Victory Lakes Townhouse Report: February 2012

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Real Estate Agent with Long and Foster REALTORS®, Gainesville, VA VA License # 0225089470

Victory Lakes Townhouse Report:  February 2012

It's hard to believe that March come in to Bristow, VA with near eighty degree temps.  If this is the beginning of spring, you have to wonder what the summer is going to bring.  Thank goodness Victory Lakes' residents have a nice cool pool to enjoy come Memorial Day weekend.

The Victory Lakes townhouse market also seems to be heating up.  With February behind us, let's take a look back and see how things compare to last report (January 2012) and last year (February 2011.)

TOWNHOUSES FOR SALE IN VICTORY LAKES

8 Listings were Active:  6 New Construction, 2 Regular Sales

The available inventory in Victory Lakes' townhouses continues to be dominated by Miller & Smith's new construction.  With six of the active listings from February being theirs, the numbers are skewed to reflect the high prices of buying new.  The high list price was up nearly 5% since last report and low list price was unchanged.  The average list price was 1.5% higher than last report and 12.2% higher than last year.  A word of caution to anyone who is thinking of buying new, you may want to check out the Victory Lakes Single Family Home Report for February 2012.  You can find single family homes in Victory Lakes for the price of new construction townhouses.  Just some food for thought.  After all, new construction is definitely shiny and spiffy when you buy it, but it's not getting any bigger over time.   

VICTORY LAKES TOWNHOUSES UNDER CONTRACT

9 Listings were Under Contract:  4 New Construction, 3 Regular Sales, 2 Short Sales

Tonwhouses under contract are also dominated by new construction.  However, the high list price at time of contract was over 3% lower than it had been last month, low list price at time of contract was over 4% higher.  High marketing time was over 5% longer, and low marketing time 100% shorter than it had been last month.  As for the averages, the list price at time of contract saw just over a 1/2% increase since last report and a 12% increase since last year.  The average marketing time improved nearly 13% since last report and was 5% longer than it had been last year.  Naturally, we'll get our best indicators of market value from the sold column.

TOWNHOUSES SOLD IN VICTORY LAKES

6 Listings Sold:  3 New Construction, 2 Regular Sales, 1 Short Sale

By a narrow margin, new construction is dominating the Victory Lakes townhouses sold as well.  The high sold price was over 12% higher than last month, while high marketing time was over 14% shorter.  The low sold price was 2.5% lower than last month and low marketing time improved by 87.5%.  Average sold price was up over 5% since last report and up 4.5% since last year.   Average marketing time was nearly 27% faster than last report and over 4% faster than it had been last year.  Year over year, we are seeing improvements to the Victory Lakes townhouse market.

The next Victory Lakes Townhouse Report will be out in April and will detail sales from the month of March.  Until then, if you would like a free market analysis of your specific townhome's value in today's real estate market, give me a 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:  February 2012.

 

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Rainmaker
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Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Chris Ann -- nice way to work weather into your market report for Victory Lakes.  I agree with your comment regarding new construction -- those models look nice --- but new only lasts so long --- buyers need to consider all the factors in choosing what will work best for them -- real estate is not short term -- we buy it for the long term benefits.

Mar 24, 2012 10:32 AM #1
Rainmaker
1,924,738
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Chris Ann

There truly are days with strange temperatures. Nice report on Victory Lakes Townhouse

Mar 24, 2012 01:18 PM #2
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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Michael:  The smaller single family homes in Victory Lakes (and those aren't that small) are selling for as much as the large new townhouses.  Personally, I think most folks would prefer having the space and not be so worried about new.

Tom:  I'm wondering where temps spike in July and August.

Mar 25, 2012 02:35 AM #3
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Chris Ann Cleland

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