Victory Lakes Single Family Home Report: December 2011

Victory Lakes Single Family Home Report: December 2011

Hope everyone in Victory Lakes enjoyed their holiday season. It's hard to believe a New Year has begun, but with December behind us we can take a look back at the last month of 2011 and see what happened in the Victory Lakes single family home market. Comparisons will be made to last report (November 2011) and last year's report (December 2010.)

SINGLE FAMILY HOMES FOR SALE IN VICTORY LAKES

2 Active Listings: 1 Regular Sale, 1 Short Sale

There was very little to choose from in December if you were looking for a single family home in Victory Lakes. Can you imagine that there were three times as many homes for sale last December? And they were all Short Sales! December's high list price was the same as November's. The low list price was up nearly 5% since last month. The average list price was up nearly 2% since last month and up 8.5% since last year. That's nice to see, but we must remember that list prices are only suggestions. The best idea of market value always comes from the sold column.

SINGLE FAMILY HOMES UNDER CONTRACT IN VICTORY LAKES

7 Listings were Under Contract: All Short Sales

The listings under contract in Victory Lakes in December were all Short Sales. This category has been dominated by Short Sales since last year. The high list price at time of contract was 14% lower than last month, the high marketing time increased by 300%. The low list price at time of contract and low marketing time were unchanged since November. The average list price at time of contract decreased 4% since last month and decreased over 8% since last year. The average marketing time increased by 110% since last month, and increased 86% since last year. These are not good trends, but we will have to see how it shakes out in the sold column as these Short Sales get approved. Can you believe that one of these Victory Lakes Short Sales has been under contract since October of 2010? It certainly pays to have a Bristow Short Sale Agent with experience and success on your side.

SINGLE FAMILY HOMES SOLD IN VICTORY LAKES

2 Listings Sold: Both Regular Sales

It's nice to see two regular sales making it to the sold column to finish out 2011. The high sales price is a big improvement, 34% to be exact, over what was November's high sold price. High marketing time, however, was 219% longer. Low sold price also increased, by 10.5% to be exact. Low marketing time improved 75%. Average sold price, not surprisingly, also increased since last month--over 22%. Average marketing time was 105% longer. Unfortunately, there are no year to year comparisons as there were no sales of Victory Lakes single family homes in December 2010.

The next Victory Lakes Single Family Home Report will be out in February and will detail sales from the first month of 2012. Until then, if you have a single family home in Victory Lakes that you would like to sell, the market will gobble it up. I'd be happy, no matter what your equity position, to meet with you and provide a free, customized market analysis of your specific home's value in today's Bristow real estate market. I've been a full-time Bristow real estate agent and Bristow home owner since 2005. I've been a Bristow Short Sale Agent since 2007. No matter what your equity position, I know how to get your home sold for the highest dollar amount in the shortest amount of time.

Chris Ann Cleland, Associate Broker-Licensed in Virginia, Long & Foster REALTORS®

703-402-0037,ChrisAnn@LNF.com, www.NVARealEstate.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 Townhouses? Click the link for the Victory Lakes Townhouse Report: December 2011.