Victory Lakes Single Family Home Report: January 2014
Spring is nearly here and if you are a Victory Lakes home owner, maybe you are thinking of selling. Is now a good time? This Victory Lakes Single Family Home Report, put out every month, should help you glean some idea as to what is happening with home values in Victory Lakes. So let's take a look back at January and compare to last month (December 2013) and last year (January 2014.)
SINGLE FAMILY HOMES FOR SALE IN VICTORY LAKES
1 Listing was Active: A Regular Sale
With only one single family home for sale when January came to a close, it is hard to really make comparisons to the highs and lows of previous reports. So when we have just one home giving us a value in a column, we compare that value to previous averages. As such, the average list price was down 1.5% since last month and down over 1% since last year. That's not anything to get excited about. And of course, we have to bear in mind that the best idea of market value comes from the sold column where it is revealed by buyers and sellers agreed to for price.
SINGLE FAMILY HOMES UNDER CONTRACT IN VICTORY LAKES
5 Listings were Under Contract: 4 Regular Sales, 1 Short Sale
We have the opposite problem in the under contract column as we did the active column. Where we had five Victory Lakes single family homes under contract as January ended, there was only one in December, but five the previous January. So in this case, again, we'll compare averages only. The average list price at time of contract was up over 3.5% since last month and up nearly 5% since last year. The average marketing time (time it took to get a contract) was 28% faster than it had been in December, but was 52% longer than it had been last year. Of course, that difference year to year in marketing time, in days, amounts to 13 days. Not a huge problem.
SINGLE FAMILY HOMES SOLD IN VICTORY LAKES
2 Listings Sold: Both Regular Sales
Two Victory Lakes single family homes made it to the settlement table in January. Shockingly, that's only one less than last month. And last year, only one sold. The high sold price was down 9% and high marketing time up 194% since last month. Not a good combo. The low sold price was up 13%, but low marketing shows an 1,800% increase in marketing time since last month. That sounds terrible, but it isn't. The low marketing time last month was zero days. This time around it was 18 days. The average sold price was up nearly 1% since last month and up over 10% since last year. This is a trend I like. The average marketing time was 227% longer than it had been last month, but was 12% shorter than it had been last year. If you put your Victory Lakes home on the market for sale, this indicates it would be under contract in an average of 36 days. Not bad.
The next Victory Lakes Single Family Home Report also be out in March and will detail sales from the month of February. Until then, if you want to investigate your home's worth in today's market, give me a call for a free market analysis. I've been a full-time Bristow Real Estate Agent since 2005 and a Short Sale Agent since 2007. No matter what your equity position, I can get the most money in the shortest amount of time for your Victory Lakes home.
And 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.
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 Townhouse Report for January 2014, click the link provided.