This past year proved to be a great year for Valleybrook Townhomes and Condos. Year after year Valleybrook continues to be a popular area to relocate for both young and old, people downsizing or just starting out. The Gloucester Township real estate market in general was in recovery mode and Valleybrook posted the following numbers.
In 2012 Valleybrook had a total sold volume of $5,766,400. There were 35 homes sold in the development, of which sellers, on average received approximately 96 percent of their asking price. The average days on market, or DOM, was 188. As far as “seller concessions,” there were 13 sellers who accepted concessions to buyers, with the average concession at $3,760. The choice for financing seemed to be conventional, as there were 20 conventional buyers, nine FHA and five cash buyers. There was one “other” buyer. Seventeen homes were 2 bedrooms and 18 were 3 bedrooms. Six homes that sold had basements and 15 had fireplaces.
Looking back, there is one issue that may be hurting even this past year's strong sales in Valleybrook, that being Players Place One. The Association for Players Place One still refuses to allow FHA purchases when all of the other HOAs in Valleybrook welcome it. Players Place One is mostly two-bedroom condos which is perfect for a family starting out. If the association begins to allow these sales, this would certainly increase the sales volume even greater, especially for that particular area of Valleybrook.
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Dave Sulvetta is an agent with RE/MAX Connection, of Turnersville, NJ.