Victory Lakes Townhouse Report: January 2014
If you are anything like me, you are tired of winter weather and cold. This past weekend with spring-like temps have been very welcome. Of course, winter really hasn't kept the Victory Lakes buyers at bay. In this edition of the Victory Lakes Townhouse Report we'll look at values for January and compare them to last month (December 2013) and last year (January 2013.) This report may help you determine if this is the time for you to place your Victory Lakes townhouse on the market....so let's get started.
TOWNHOUSES FOR SALE IN VICTORY LAKES
4 Listings were Active: 3 Regular Sales, 1 Short Sale
Oddly, there were no listings active when December came to a close, so we have no month to month comparison. So in this instance, what we will do is compare average to last year. The average list was up over 3% since last January. That's good news. Since list prices are really just suggestions, we'll have to see if the trend is repeated in the sold column.
TOWNHOUSES UNDER CONTRACT IN VICTORY LAKES
4 Listings were Under Contract: 3 Regular Sales, 1 Short Sale
Four Victory Lakes townhouses made it under contract in January, the majority, just like the actives, were regular sales. It seems Short Sales are phasing out of our market. Since there was only one listing under contract last month, but four last year, we'll compare averages only across the board. The average list price at time of contract was down over 7/10ths of 1% since last month, but up over 5.5% since last year. As for average marketing time, it was 52% faster than it had been last month and 63% faster than it had been last year. More good stuff. Now for the solds.
TOWNHOUSE SOLD IN VICTORY LAKES
2 Listings Sold: Both Regular Sales
There were two Victory Lakes townhouses that made it to settlement in January. The same number than settled in December. Yet one year four townhouses made it to settlement. The high sold price was up over 4.5% since last month and high marketing time 57% longer. The low sold price was up nearly 4% since last month and low marketing time was also longer, but only by 44%. The average sold price was up over 4% compared to last month and up over 4.5% compared to last year. While that is outstanding to hear, the average marketing time is lengthening. IT was 52% longer than it had been the previous month and 56% longer than it had been last year.
The next Victory Lakes Townhouse Report will also be out in March and will detail sales from the month of February. 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.
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 Single Family Home Report for January 2014, click the link provided.