Victory Lakes Townhouse Report: July 2012
Victory Lakes, like the rest of the Bristow real estate market, or the Northern Virginia real estate market, is officially in the summer doldrums. August seems to be the month we feel things slow to what can feel like a stop. However, we're not here to analyze August's sales. We're here to analyze July's townhouse sales in Victory Lakes. Our comparisons will be to last report (June 2012) and last year (July 2011.)
TOWNHOUSES FOR SALE IN VICTORY LAKES
8 Listings were Active: 4 Regular Sales, 3 New Construction, 1 Short Sale
There were three fewer active townhouse listings in Victory Lakes in July, than there had been in June. The high list price was 4% lower than last month, low list price 3% lower. The average list price was nearly 2.5% lower than last month, but nearly 8% higher than it had been last year. List prices are suggestions. The best idea of market value will always come from the sold column.
TOWNHOUSES UNDER CONTRACT IN VICTORY LAKES
9 Listings were Under Contract: 7 New Construction, 1 Regular Sale, 1 Short Sale
There were four more Victory Lakes townhouses under contract in July than there had been in June. The high list price at time of contract was the same, while high marketing time was 68% shorter. The low list price at time of contract was nearly 12% lower than last month, low marketing time was 27% shortter. The average list price at time of contract was over 4% lower than last month, but was 9.5% higher than it had been last year. The average marketing time was 56% shorter than it had been last month, but 50% longer than it had been last year.
TOWNHOUSES SOLD IN VICTORY LAKES
1 Listing Sold: It was New Construction
With only one Victory Lakes townhouse in the sold column for July, we'll just make comparisons to averages for last month and last year. The average sold price was nearly 16% higher than last month and 16.5% higher than last year. The average marketing time was 838% longer than it had been last month and 388% longer than it had been last year. The marketing time doesn't worry me as it was a new construction sale that sets the new average. New construction listings are often held active for all of one particular model.
The trends month to month are down, but up compared to last year in all categories.
The next Victory Lakes Townhouse Report will be out in September and will detail sales from the month of August. Until then, if you are thinking of selling your Victory Lakes townhouse, give me a call for 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®
Statistics compiled by Chris Ann Cleland using the MRIS (Metropolitan Regional Information Systems.)
To see the Victory Lakes Sibgle Family Home Report for July 2012, click the link provided.