Braemar Property Value Report: March-April 2019 (Ryan Homes)
As I type this edition of the Braemar Property Value Report, featuring sales of houses in Braemar built by Ryan Homes, Memorial Day Weekend is coming to an end. I hope everyone is out there enjoying every minute. Back to work and school on Tuesday is definitely going to be a rude awakening for a lot of folks. For me, I love what I do as a Top Braemar Real Estate Agent. Going back to work is a pleasure.
So let’s get to this Braemar Property Value Report for Ryan Homes. There was only one sale of a Ryan Home between March and April. It was a Rosemont model for $499,000. Details of the sale are listed below.
When combined with the entirety of the previous twelve months of Ryan Home sales in Braemar, the updated six and twelve month data points are as follows:
Starting with the six month average and median sold prices we see that both are above the respective twelve month values. This means that Ryan Homes are still gaining value.
A trend not favorable to Ryan Home sellers in Braemar is found in the seller subsidy column. The six month average seller subsidy (closing cost assistance to buyers) is just about doubled what it is when we look at the twelve month average. That’s a big jump in the short term. What tempers this increase is seeing that the six month median seller subsidy only went up by 50% compared to the twelve month median seller subsidy. Whether or not a Braemar seller is going to find themselves in a position to give closing cost help to a buyer depends on the circumstances. If buyer demand keeps up and inventory remains sparse, it is likely that seller subsidy will not be a huge factor for most Ryan Home sellers.
Days on market, or marketing time as I like to call it, is almost unchanged in the six month average compared to the twelve month average. Meanwhile, the six and twelve month median marketing times are still at only seven days. The six month average may even be lower. As you recall, our MLS changed to a new system in November last fall that calculates this figure differently. When out on listing appointments, I actually calculate these figures by hand for the most accurate information.
If you placed your Ryan Home on the market, priced to current conditions, you could expect it to be under contract in as little as a week, or as much as five weeks or so. You could also expect to give about 1% of the sales price in closing cost help, if any at all.
The next Braemar Property Value Report will be out in July. Until then, when the need to sell your Braemar home arises, give me a call for the most accurate analysis of your home’s worth in our current market. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate