Braemar Property Value Report: November-December 2017 (Ryan Homes)
What a great couple of days to be out and about in Bristow and Gainesville. It has been sunny and relatively warm. However, it does look like we have some cooler temperatures coming tomorrow. A look at the forecast tells me we aren’t with the 15 degree temperature swings. At least the daylight we are gaining each day is constant.
Right now, it is time for another Braemar Property Value Report. This one brings up the rear of the single family home reports for the neighborhood and focuses on Ryan Homes properties that sold in the last two months of 2017.
There were Ryan Homes that sold during our reporting period, ranging from $445,000 to $515,000. The details of those sales are detailed below:
If we take these sales and plug them in with our rolling six and twelve month values, what we find is that the six month average sold price has softened quite a bit compared to the twelve month average sold price. In a complete contradiction of that information is the fact that the median sold price is only $100 less in the six month value vs. the twelve month value. This is likely an indicator of more stable market values than the average sold price change in the short term indicates.
The average and median seller subsidy (closing cost help) is virtually unchanged in the short term compared to the long term. However, the six month marketing time (DOM) compared to the twelve month value indicates that it has been taking longer to sell Ryan Homes in Braemar.
If you placed your Ryan Home on the market, priced to current market conditions, you could expect it to be under contract in two months or less. (I would think much less given our lack of inventory heading into spring right now.) You could also expect to pay about $8,000 in closing cost help.
The next Braemar Property Value Report will be out in March. Until then, if you want to know how the market is affecting your specific home’s value, give me a call. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®