Braemar Property Value Report: May-June 2018 (Ryan Homes)
It may not have felt like all that bad of a thunderstorm, but the storm we had around 2pm today in Bristow knocked a big tree down off of Tartan Hills Parkway in Braemar. Thankfully, the tree isn’t blocking the road, but it is blocking the path on the Broadsword Drive side of Tartan Hills Parkway. I was on my way to re-stage a listing that just came back on the market when I saw that downed tree. Turns out our neighborhood is great at keeping our on-site managers informed. I called as soon as I drove past the tree, but the staff was already aware and had phoned it in to BrightView.
Right now, it is time for another Braemar Property Value Report. This one focuses on single family dwellings built by Ryan Homes in our neighborhood. And while there were no sales of Ryan Homes to report in May and June we still have updated data from the past year to review.
There is some contradictory sold price data when we compare the six month sold prices to the twelve month sold prices. Increase in six month over twelve month sold prices means values are going up. Decreases in six month compared to twelve month sold prices means values are slipping. Well, the six month average sold price is higher than the twelve month average, but the six month median is lower than the twelve month median. Since neither marks a huge change in either direction, this is a sign of stability in sold prices of Ryan Homes.
The seller subsidy in the six month values is a good chunk below the seller subsidy in the twelve month values. This means sellers of Ryan Homes have not been giving their buyers as much in closing cost help. Another good trend is that days on market is down in the six month values compared to the twelve month values. This means it is taking less time to sell Ryan Homes in Braemar.
If you placed your Ryan Home on the market, priced to current conditions, you could expect it to be under contract in a month. You could also expect to pay less than 1% of the sales price in closing cost assistance.
The next Braemar Property Value Report will be out in September. Until then, if you want to know how the most recent sales activity in Braemar is affecting your home’s values, give me a call at 703-402-0037. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®