Braemar Property Value Report: March-April 2016 (Ryan Homes)
There has been a lot of activity in our Bramar real estate market in the last few months. In this edition of the Braemar Property Value Report we will look back at the months of March and April and see what happened with respect to homes built by Ryan Homes.
To begin with, there were six sales of houses built by Ryan Homes between March and April. The low sold price was $417,000 and the high sold price was $499,000. The average of all five sold prices gives us our new average market value for Ryan Homes of $440,150. That marks more than a 1% increase in values since last report, but slightly more than a 4% loss in average market value since last year. Please bear in mind that four of the five sales that occurred during this reporting period were smaller Ryan homes.
If you placed your Ryan Home on the market, priced to current market conditions, this report indicates that you could expect to be under contract in an average of 79 days. Again, two sales that occurred skew this number. One home that sold in 244 days and another that sold in 126 days. Those are way out of line with what you could normally expect. It is more likely your home would be under in no more than three weeks. Even that is a stretch if you are priced right and show well. This report also shows that you could expect to pay an average of nearly 1.5% of the sales price in closing cost assistance to the buyer.
The next Braemar Property Value Report will be out in late May and will detail sales from the months of March and April. In the meantime, when you are ready to sell, call me for a free market analysis of your home’s value in today’s marketplace. No One Knows Braemar Better!
Chris Ann Cleland, Associate Broker-Licensed in VA
Long & Foster REALTORS®, Manassas VA
Statistics compiled using the MRIS (Metropolitan Regional Information Systems.)