Braemar Property Value Report: January-February 2019 (Ryan Homes)
Do you find yourself feeling invigorated by the spring sunshine, warmer temps and our deciduous landscape in Bristow coming back to life? I know I do. I’ve got even more to make your spirits soar, particularly if you own a home built by Ryan Homes in Braemar.
This edition of the Braemar Property Value Report focuses on the sales of Ryan Homes in the first two months of the year. As it turns out, there were two Ryan Homes that sold. Their sold prices, as you will see in the details below, are nearly $100,000 apart. That’s what happens when you have a finished basement in a much larger home.
Taking these two most recent Ryan Home sales and combining them with the previous twelve months of data, we get new six and twelve month data points.
Let’s start by looking at the biggest concern every Braemar home seller has–price. The six month average and median sold prices are both higher than the twelve month average and median sold prices. This means Ryan Homes are going up in value in the most recent sales.
When it comes to seller subsidy (closing cost assistance to buyers), there isn’t a lot of change. Buyers are still getting a little something in seller subsidy in their deals, but there are not any drastic increases happening here.
Finally, days on market does show a significant increase in marketing time, particularly when comparing the six month median days on market to the twelve month median days on market. Don’t panic. In November our region switched to a new MLS (multiple listing service) that stops counting days on market not when a home goes under contract, but when the contingencies in the contract are removed. Not all that helpful when sellers want to know how long it’s going to take their homes to go under contract. I suspect our new MLS will go back to stopping the days on market counter when a home goes under contract. However, if they do not, we’ll need a year’s worth of data in the new system before we have an apples to apples comparison.
If you placed your Ryan Home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement within about six weeks. You could also expect to sell out under 1% of the sales price in closing cost help.
The next Braemar Property Value Report will be out in late May. Until then, when the sale of your Braemar home is on the horizon, it is never to early to consult this top Braemar Listing Agent. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate