Victory Lakes Townhouse Report: April 2013
As I write this report it is the middle of Memorial Day weekend and the Victory Lakes community pool is open for the 2013 summer season. While the opening of the pool may turn your thoughts to summer, there is still some spring business to attend to. With April behind us, we can take a look back at the Victory Lakes townhouse market and see how values fared as we were well into spring. We'll make comparisons to last month (March 2013) and last year (April 2012.)
TOWNHOUSES FOR SALE IN VICTORY LAKES
2 Listings were Active: 1 Regular Sale, 1 Short Sale
There were two fewer Victory Lakes townhouses available for purchase as April came to a close. The high list price was down nearly 2% since last month and the low list price was unchanged. The average list price was down about 1/2% since last month and down 11% since last year. Keep in mind, last year's iventory of Victory Lake townhouses available for purchase was entirely new construction. The decrease year to year is not a cause for alarm. Of course, we should always pay closest attention to the action in the sold column as that is where we get the best idea of true market value.
TOWNHOUSE UNDER CONTRACT IN VICTORY LAKES
8 Listings were Under Contract: All Regular Sales
There were double the number of Victory Lakes townhouses under contract in April as there had been in March. The high list price at time of contract was up over 6% since last month, but high marketing time was 77% longer. The low list price at time of contract was down over 1.5% since last month, but low marketing time had become 33% faster. The average list price at time of contract was nearly 2% higher than it had been last month, but down 1/2% since last year. The average marketing time was 7% longer than it had been last month (which amounts to one day) and was 60% faster than it had been last year.
TOWNHOUSES SOLD IN VICTORY LAKES
5 Listings Sold: All Regular Sales
There were four fewer Victory Lakes townhouses that made it to the settlement table in April as there had been in March. The high sold price was down 5.5% and the high marketing time was 76% faster than last month. The low sold price was up nearly 5% since last month and the low marketing time was unchanged. The average sold price was down nearly 2% compared to last month and down about the same amount compared to last year. The average marketing time was 52% faster than it had been last month and 92% faster than it had been last year.
The changes in sold price are not drastic, so that's good. The marketing time continues to be very short with the average amount of time a Victory Lakes townhouse stays on the market recently being slightly over two weeks.
If you want to track values of your Victory Lakes homes on a regular basis, join the new Victory Lakes Facebook Group specifically put together for that purpose.
The next Victory Lakes Townhouse Report will be out in June and will detail sales from the month of May. 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®
703-402-0037, ChrisAnn@LNF.com, www.NVARealEstate.net, www.SpeakingOfHomes.net
Statistics compiled by Chris Ann Cleland using the MRIS (Metropolitan Regional Information Systems.)
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To see the Victory Lakes Single Family Home Report for April 2013, click the link provided.
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