Braemar Property Value Report: May-June 2019 (Ryan Homes)
With just a few days left in July, I’m getting the last of the Braemar Property Value Reports out for public consumption. It’s an internal deadline that I set for myself that I will have these out by the last day of the month following the reporting period. Real estate agents being independent contractors with no one to answer to, setting deadlines is a business practice you will find among top agents.
This particular Braemar Property Value Report covers the sales of single family homes, built by Ryan Homes, during the months of May and June. During that time, there were four resales, ranging in sold price from $475,000 to $570,000. Details of those sales are listed below.
Taking these sales above and combining them the entire preceding twelve months of Ryan Home sales, we get new six and twelve month data points, pictured below.
Examining the trends in the sold prices, there is an increase in both the six month average and six month median sold prices from their respective twelve month values. This means Ryan Homes are still pushing up in value.
When it comes to seller subsidy, a.k.a. as closing cost assistance to buyers, a trend presents itself that does not favor Ryan Home sellers. Both the six month average and six month median seller subsidy values are higher than their twelve month counterparts. This means buyers have been asking for, and receiving, more seller subsidy in the most recent sales.
Days on market, a category that has become unreliable with a change in how that data is recorded in our new MLS, which was adopted in November 2018, we see that the six and twelve month averages are the same. The six month median is only one day shorter than the twelve month median.
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 in a month at worst. You could also expect to pay about 1.5% of the sales price in closing cost help.
The Braemar Property Value Report will be out in September. Until then, if you want to investigate what the market might bring in regards to your own home’s value, give me a call for the most accurate, free, market analysis. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate