Braemar Property Value Report: July-August 2021 (Ryan Homes)
Another gorgeous September day brings another Braemar Property Value Report. The days are gradually cooling off, and perhaps our real estate market as well. In this edition of the BPVR we focus on sales of houses built by Ryan Homes in the neighborhood during the last two months of summer.
During July and August there were ten Ryan Homes in our neighborhood that sold. I was pleased to have listed one, which you will see highlighted in pink below:
Sold prices ranged from $610,000 to $770,000. I know the listing I had at 12809 Gentle Shade Drive hit a happy spot with buyers despite not having top of the line updates and a fully finished basement, getting $68,000 above list price. That’s the biggest leap from list price to sold price in the most recent sales. See what hiring a professional marketing agent that knows the neighborhood like the back of her hand can do for you.
Taking these ten sales and combining them with the last twelve months of Ryan Home sales in Braemar, our six and twelve month data points are updated and continue to show the strength of our seller’s market.
Starting with the sold price column, we see both the six month average and six month median values are higher than their respective twelve month values. Despite the buyer frenzy cooling off a bit this summer, Ryan Homes are still gaining value. And unlike some of the homes I have reported on lately, Ryan Homes saw a steady rate of increase in the twelve month average to the six month average of 2% since last report. Better yet, while some homes have seen decreases in median value gains since last report, Ryan Homes saw a 5% uptick since last report’s 2% median growth. All great news.
Seller subsidy is where we learn how much closing cost help buyers were able to negotiate from their sellers. Down the line in the ten most recent sales, the answer is zero. That is also the answer in the seller subsidy average and median values with the exception of the twelve month average. Out of twenty-three sales in the past twelve months, only one seller gave closing cost assistance, which is why the average is such a low value.
Days on market is five days down the line. Some of the most recent sales happened ever faster than that, some longer. However Ryan Homes are still selling ridiculously fast as inventory still is not enough to meet buyer demand.
If you placed your Ryan Home on the market, priced to current conditions in our Braemar real estate market, you could expect your home to be under contract in less than one week. You could also expect to give nothing in closing cost help.
The next Braemar Property Value Report will be out in November and will let us know if fall is off to a strong start, which I suspect it will be. Our year end market is usually a great one, fueled by the beginning of the fiscal year for the Federal government. Until then, if you want to investigate the possibility of selling your Braemar home, get in touch with me. Since 2005, No One Knows Braeamar Better!