Victory Lakes Single Family Home Report: January 2012

Victory Lakes Single Family Home Report: January 2012

Cold winter winds are whipping through Victory Lakes. Just when you thought we were going to get a mild winter, think again! Luckily downed trees from the 50 mph gusts of Saturday night/Sunday morning are at a minimum.

With the first month of the year behind us, let's take a look at how the Victory Lakes single family home market started in 2012. We'll make comparisons to last report (December 2011) and last year (January 2011.)

SINGLE FAMILY HOMES FOR SALE IN VICTORY LAKES

There were no active listings at the end of January 2012.

Since there were no active listings to end the month of January, there is no need to show you a table with no information in it. I can tell you that last month there were two active listings and last year we had four on the market. Clearly, spring buyer demand is here early! If you have been thinking of selling your Victory Lakes home, get it on the market ASAP, before every one else. It's your best shot at getting the season's highest price.

SINGLE FAMILY HOMES UNDER CONTRACT IN VICTORY LAKES

5 Listings were Under Contract: All Short Sales

The fact that Short Sales continue to dominate the homes under contract in Victory Lakes is not a surprise. Last report there were seven Short Sales under contract, last year there were eight. And just like those two reporting periods, all the homes under contract in January were Short Sales. The high list price at time of contract has remained unchanged since last report, but high marketing time improved by 82%. Low list price at time of contract went down, but hardly enough to register a 1/10th of a percentage change since last report. Meanwhile, low marketing time compared to last report remains unchanged. The average list price at time of contract decreased 37% since last report and only 3% compared to last year. The average marketing time improved 65% since last report and 64% since last year. It still blows my mind that one of these Short Sales under contract in Victory Lakes has been under contract since October 2010. If you don't want that to be you, hire an experienced Bristow Short Sale Agent.

SINGLE FAMILY HOMES SOLD IN VICTORY LAKES

4 Listings Sold: 3 Short Sales, 1 Regular Sale

The sold column was dominated by Short Sales in January, and it's no surprise since the under contract column is always dominated by them. Somehow, we've not seen this domination compared to last report and last year. The high sold price was 4% lower and high marketing time was 300% longer compared to last report. The low sold price was 5% lower and low marketing time 975% longer compared to last report. Average sold price was only 1% down compared to last report and down 7% compared to last year. Average marketing time was 318% longer than it was in December and 138% longer than it was a year ago. It is generally not my experience that Short Sales take longer to go under contract than regular sales, but this data would reflect that liklihood. Another reason why hiring an experienced Bristow Short Sale Agent is critical to your Short Sale success.

The next Victory Lakes Single Family Home Report will be out in March and detail sales from February. Until then, if you are contemplating the sale of your Victory Lakes home, give me a call for your free market analysis of your home's worth. 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: January 2012.