Dunbarton Duplex First Quarter Review 2017

Dunbarton Duplex First Quarter Review 2017

If you were ever wondering what it might be like to live in the Pacific Northwest, I’m sure the last week of drizzly rain and consistent overcast weather has enlightened you.  While my husband would love for us to pick up and move to Seattle, it is days on end of weather like this that makes me love Bristow, Virginia.  This dreary weather is rare, and that’s perfect for me.

There is one thing dreary days are good for, and that is preparing market reports.  This one focuses on the sales between January and March this year in Dunbarton duplexes.  For comparison, we’ll look at what happened in the first quarter of 2016.

HOMES SOLD 

4 duplexes sold in the 1st Quarter of 2017

2 duplexes sold in the 1st Quarter of 2016

In all honesty, this is not what I expected to see.   Bristow, VA has been seeing an inventory shortage this year, which means not enough homes on the market to meet buyer demand.  Seeing more duplexes sell in the first quarter of 2017 than the same period of 2016 is a good thing.

SOLD PRICES

High Sold Price:  $361,130 in 1st Q 2017; $305,000 in 1st Q 2016

Low Sold Price:  $261,250 in 1st Q 2017; $300,000 in 1st Q 2016

Median Sold Price:  $329,750 1st Q 2017; $302,500 in 1st Q 2016

Average Sold Price:  $320,470 1st Q 2017; $302,500 in 1st Q 2016

With more duplexes selling in the first few months of 2017 vs. last year I not surprised to see a much higher high sold price this year.  There was a larger variety of duplexes and one with a basement set the high this year.  And once you get more sales and a much higher price, it is no wonder the sold prices are much more favorable looking into 2017.

CLOSING COST ASSISTANCE

When you are planning on selling your Dunbarton duplex, of course you are going to want to know if you are going to be expected to give any closing cost help to your buyer.  Let’s take a look.

1 of 4 sellers gave closing cost help in 1st Q 2017

0 of 2 sellers gave closing cost help in 1st Q 2016

It’s pretty clear looking at these numbers that giving closing cost help is a rarity when it comes to selling Dunbarton duplexes.  The only seller that gave closing cost help gave $629.  That’s more than likely, something that was negotiated during the home inspection.  Often times sellers will offer a closing cost credit in lieu of repairs.

MARKETING TIME

Knowing how long it will take to sell your Dunbarton duplex is also good to know.

Highest Marketing Time:  55 Days in 1st Q 2017; 88 Days in 1st Q 2016

Lowest Marketing Time:  4 Days in 1st Q 2017; 9 Days in 1st Q 2016

Median Marketing Time:  13 Days in 1st Q 2017; 49 Days in 1st Q 2016

Average Marketing Time:  21 Days in 1st Q 2017; 49 Days in 1st Q 2016

With high buyer demand in our Bristow market, it is no surprise to marketing time coming down.  It seems that your Dunbarton duplex could be under contract in two to three weeks.

When you are ready to put your Dunbarton duplex on the market, call me for a free market analysis.  Since 2005, I have been a full-time Bristow Real Estate Agent.  Put my local knowledge to work for you.

Chris Ann Cleland

 Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

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Dunbarton Single Family Home First Quarter Review 2017

Dunbarton Single Family Home First Quarter Review 2017

Spring has finally sprung in Bristow, but the cold overnight temps over the last few days may have you going back and forth between your heat and a/c.  Does make for some great days to open up the windows and let in some fresh air.

Right now, it’s time for the first quarter check up on Dunbarton single family home values.  Let’s get right to it and see how the first quarter of 2017 compares with the first quarter of 2016.

HOMES SOLD

3 homes sold in the 1st quarter of 2017

6 homes sold in the 1st quarter of 2016

Clearly, the first quarter of 2017 is not starting out gang busters for number of sales compared to the previous year.  But is it affecting prices?

SOLD PRICES

High Sold Price:  $399,900 in 1st Q 2017; $449,900 in 1st Q 2016

Low Sold Price:  $335,000 in 1st Q 2017; $335,000 in 1st Q 2016

Median Sold Price: $385,000 in 1st Q 2017; $349,000 in 1st Q 2016

Average Sold Price:  $373,300 in 1st Q 2017; $370,400 in !st Q 2016

Well this feels better than just looking at the number of sales.  Sure the highest sold price isn’t as high as it was in the first quarter of 2016, but the median and average sold prices are higher.  That means the demand is raising prices.

CLOSING COST ASSISTANCE

Another aspect of analyzing home sale data is looking at closing cost assistance that sellers give buyers.

1 out of 3 sellers gave closing cost help in 1st Q of 2017

4 out of 6 sellers gave closing cost help in 1st Q of 2016

Looks like sellers in the first quarter of 2017 had a better shot of not being asked for closing cost help this year.  That’s part of the current high market demand.  The more buyers are competing for listings, the less likely they are going to ask for things like closing cost help.  The one that did give help this first quarter of 2017 gave $6,085.  So that would be a worst case scenario if you were thinking of selling anytime soon.

MARKETING TIME

And the last aspect of analyzing home sale date is to find out how long it is taking to sell homes.  So how long is taking to sell a single family home in Dunbarton?

Highest Marketing Time:  43 days in 1st Q 2017; 189 days in 1st Q 2016

Lowest Marketing Time:  7 days in 1st Q 2017; 4 days in 1st Q 2016

Median Marketing Time:  27 days in 1st Q 2017; 72 days in 1st Q 2016

Average Marketing Time:  26 days in 1st Q 2017; 84 days in 1st Q 2016

As I would expect in a market where buyer demand is outpacing supply, the first quarter marketing time for Dunbarton single family homes this year is shrinking overall compared to last year.

If you have been thinking of making a move, selling during a time of low inventory is a great strategy.  Call me to find out other home selling strategies that I can put to work for you.

Chris Ann Cleland

 Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

Dunbarton Duplex Year in Review 2016

Dunbarton Duplex Year in Review 2016

Last year (2016) I decided to start providing online reports tracking average market value for Dunbarton Duplexes.  Turns out, my sampling period of every two months, didn’t provide enough data.  So let’s take a look back at the entire year and compare it to what happened in 2015.

Ayres Model Duplex in Dunbarton

HOMES SOLD

10 duplexes sold in 2016, 4 with basements

  7 duplexes sold in 2015, 3 with basements

Unlike the Dunbarton Single Family Home Year in Review for 2016, duplexes actually saw more sales in 2016 than the previous year.  Let’s see how the sales break down by quarter.

1st Quarter:  2 sales in 2016; 0 sales in 2015

2nd Quarter:  4 sales in 2016; 3 sales in 2015

3rd Quarter:  2 sales in 2016; 1 sale in 2015

4th Quarter:  2 sales in 2016; 3 sales in 2015

The second quarter seems to be where both years saw the most activity, though in 2015 the fourth quarter matched it.

SOLD PRICES

High Sold Price:  $360,000 in 2016; $359,900 in 2015

Low Sold Price:  $300,000 in 2016; $275,000 in 2015

Median Sold Price:  $336,000 in 2016; $330,000 in 2015

Average Sold Price:  $332,295 in 2016; $320,946 in 2015

Values definitely lifted a bit in 2016.  Even though the high sold prices were nearly identical, the difference in the median sold prices and average sold prices from 2015 to 2016 tell a tale.  And the number of Dunbarton Duplexes with basements seems to be about 40% of the sales each year, so that should not taint the median and average in this comparison.

CLOSING COST ASSISTANCE

When home owners are about to sell, they want to know if the market is such that paying all, or a portion, of the buyer’s closing costs will be expected.  Let’s take a look.

1 of 10 sellers gave closing cost help in 2016

3 of 7 sellers gave closing cost help in 2015

It’s clear to me that buyers wanting a Dunbarton Duplex know that they are making an offer on a hard to find home.  The vast majority of sellers had to give absolutely nothing in closing cost help to their buyers in 2016.  And the one seller that gave help in 2016 only gave $2,000.  Even in 2015, the slim majority gave none.  The average of the three that gave in 2015 was $2,500.  When you are hiring an agent to list your home, if you don’t want to pay closing cost help, start by finding an agent like me that understands the stats and can help you counter accordingly if a buyer does ask for closing cost help.

Dunbarton Sign Fall 2015

MARKETING TIME

When I sit down with sellers, after we figure out a reasonable list price, the next question they have is how long their home will take to sell.

Highest Marketing Time:  157 days in 2016; 61 days in 2015

Lowest Marketing Time:  0 day in both 2016 and 2015

Median Marketing Time:  38 days in 2016; 13 days in 2015

Average Marketing Time:  62 days in 2016; 23 days in 2015

Even though sold prices moved up in 2016 for Dunbarton Duplexes, marketing time took longer.  That’s not surprisingly given the hesitancy agents like myself noticed in the market last year.  Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037Presidential election years always cause buyers to pull back a bit from the market  I think this showed itself in 2016 in the marketing time taking a bit longer for Dunbarton Duplexes to sell.

If you think that 2017 may be the year to list your Dunbarton Duplex, give me a call for a free market analysis.  We’ll pull the comparable sales that are most like your home, and any homes you may be competing against, to figure out the most money we get for your sale.  Since 2005, I have been a full-time, professional Bristow Real Estate Agent.  Put my experience in our marketplace to work for you.

Chris Ann Cleland

 Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com 

Dunbarton Single Family Home Year in Review 2016

Dunbarton Single Family Home Year in Review 2016

Last year (2016) was my first giving you stats for single family home sales in Bristow’s only active adult community of Dunbarton.  Of course giving you stats for 2016 without some point of reference is rather meaningless.  While we walk through the stats, we’ll be making
comparisons to 2015.Dunbarton Single Family Home

HOMES SOLD

21 homes sold in 2016, 11 of those had basements

33 homes sold in 2015, 20 of those had basements

There was definitely more sales activity in 2015, than we saw last year.  However, that may not be unexpected.  Take a look at the number of sales broken down by quarter.

1st Quarter:  6 sales in 2016, 8 sales in 2015

2nd Quarter:  7 sales in 2016, 8 sales in 2015

3rd Quarter:  7 sales in 2016, 9 sales in 2015

4th Quarter:  1 sale in 2016, 8 sales in 2015

Notice anything there?  It’s pretty obvious that our 2016 sales performance in the 4th quarter of 2016 was way down compared to the previous year.  The major event that happened during that time last year was our Presidential election.  Every four years, we go through this slowing as we approach a Presidential election.  Assuming most years are like 2015, any time of year is a good time of year to sell your Dunbarton home.

SOLD PRICES

High Sold Price:  $457,000 in 2016, $450,000 in 2015

Low Sold Price:  $322,500 in 2016, $309,000 in 2015

Median Sold Price:  $365,000 in 2016, $368,500 in 2015

Average Sold Price:  $374,433 in 2016, $372,600 in 2015

Despite having fewer sales in 2016, it appears Dunbarton single family home values are holding steady and edging forward ever so slightly.  The only price that isn’t higher in 2016 is the median.  And it is only $3,500 down from last year.

CLOSING COST ASSISTANCE

Sellers want to know when they sell their home is they should expect to shell out money for buyer closing costs.  Let’s see the trend.

7 of 21 home sellers gave closing cost help in 2016

17 of 33 home sellers gave closing help in 2015

Seems that the likelihood of a seller having to give closing cost assistance to a buyer is decreasing.  In 2016, the average closing cost assistance totaled $2,365.  The highest amount given was $10,440.   The lowest amount given, of those that did give, was $5,000.  The median amount of those that gave was $6,000.  So even if your buyer did need closing cost help, odds are it wouldn’t be crippling.

Dunbarton Sign Fall 2015

MARKETING TIME

Besides knowing if they will have to pay a buyer’s closing costs, sellers also want to know how long it’s going to take to sell their home.  Here’s a comparison for you:

Highest Marketing Time:  240 days in 2016, 276 days in 2015

Lowest Marketing Time:  0 days in 2016, 4 days in 2015

Median Marketing Time:  22 days in 2016, 49 days in 2015

Average Marketing Time:  64 days in 2016, 69 days in 2015

Looks like the time it took to sell a Dunbarton home in 2016 was faster than it had been the year previous.  Might have to do with the lack of inventory in the neighborhood compared to 2015.

If you are thinking of selling your Dunbarton home, give me a call for a free market Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037analysis.  We’ll drill down and see what comparable properties sold for, and what your competitors are asking in their list prices.  Since 2005, I have been a full-time, professional Bristow Real Estate Agent.  Helping Dunbarton home owners sell is one of the favorite parts of my job.

Chris Ann Cleland

 Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com 

Dunbarton Duplex Report: September-October 2016

Dunbarton Duplex Report:  September-October 2016

The Thanksgiving holiday is behind us and the holiday shopping season has begun. Dunbarton Duplex Before I even decorate for the holidays, or start shopping, I feel it is my duty to get my Dunbarton market reports done. This Dunbarton Duplex Report will focus on the sales activity in September and October.

Unfortunately, there was only one Dunbarton duplex that sold during September and October.  It was a one level Ayres model that listed for $340,000 and sold for $335,000.  If we take that sold price and compare it to last report’s average value, we see an increase of just over 3%.  Compared to last year, it is less than 1/2% increase in value.

Dunbarton Duplex Report:  September-October 2016

If you placed your Dunbarton Duplex on the market, priced to current conditions, you could expect it to be under contract in about two weeks.  And you may not have to pay any closing cost help for the buyer.  Dunbarton duplex buyers seem to be able to handle their own closing costs.

The next Dunbarton Duplex Report will be out in January and will focus on sales Dunbarton Sign Fall 2015activity for November and December.  Until then, I wish you all the best this holiday season.  And when you are ready to sell your Dunbarton duplex, give me a call for a free market analysis of your specific home’s value.  We can also go over my unique marketing plan that allows me to sell millions in Bristow real estate year after year.

Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037Chris Ann Cleland

 Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com 

 

To see the Dunbarton Single Family Home Report for September-October 2016 click the link.

Dunbarton Single Family Home Report: September-October 2016

Dunbarton Single Family Home Report:  September-October 2016

The trees are quickly shedding their leaves as we approach the end of November. Thank goodness the early nightfall that late fall and winter bring are mitigated Dunbarton Single Family Homeby the sparkling holiday lights that neighbors put up every year.  It is hard to be in a bad mood when you see holiday lights.  While our minds may be getting into holiday mode, it is time to take a look back at Dunbarton single family home sales during the months of September and October and determine how values are faring.

There were only two Dunbarton single family homes that sold between the beginning of September and end of October.  One sold for $365,000, the other for $369,900.  The average of the two sales gives us our new average market value for a Dunbarton single family home of $367,450.  That’s a drop of 6.5% in average market value since last report.  Then again, last report there were five homes that sold and some were up there in price.  Compared to this time last year, the average market value is down only slightly over 2.5%.  Please remember that we are talking averages.  When it comes to pricing a particular home, Listing Agents like myself will compare you to homes that are similar in size to yours.

Dunbarton Single Family Home Report:  September-October 2016

If you placed your Dunbarton home on the market, priced to current conditions, you could expect it to be under in an average of five days.  That’s pretty fast!  Don’t be surprised if the holiday months increase that time.  You may also pay an average of nearly 1% of the sales price in closing cost help for the buyer.

The next Dunbarton Single Family Home Report will be out in January.  In the meantime, I wish you all a very Happy Holiday season.  And when you are ready to list your Dunbarton home, give me a call for a free market analysis of your specific home’s value and a discussion about what I will do to get your home sold.

Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037Chris Ann Cleland

 Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com 

 

To see the Dunbarton Duplex Report for September-October 2016, click the link.

Dunbarton Duplex Report: July-August 2016

Dunbarton Duplex Report:  July-August 2016

Looking at the forecast it seems like today is the one day we get of sunshine in Bristow.  I sure hope everyone is enjoying it.  For a real estate agent, one day of sunshine means this is the day I needed to grab my camera and get some outdoor shots of a listing.  Sunny days Dunbarton Duplexare always more inviting in an exterior photo.

Right now it is time for another Dunbarton Duplex Report, focusing on Dunbarton duplex sales for the months of July and August.  So without further delay, let’s get to it.

Unlike last report that saw three duplex sales, there was only one Dunbarton duplex that sold the last two months of summer.  It was an Ayres model that listed and sold for $325,000.  It had no basement.  Since that is only value we have, it is the only thing we have to take back to last report and last year.  Compared to last report’s average, that is a decrease of over 6%.  Since last year’s average, it is a decrease of 9.5%.

Dunbarton Duplex Report: July-August 2016

If you placed your Dunbarton duplex on the market, priced to current conditions, you may get lucky like this seller and not have to waste more than one day on the market.  You may also not have to worry about giving closing cost help.

The next Dunbarton Duplex Report will be out in November and will focus on sales activity for September and October.  Until then, when you are ready to sell your Dunbarton duplex, give me a call for a free market analysis of your specific home’s value. Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037 We can also go over my unique marketing plan that allows me to sell millions in Bristow real estate year after year.

Chris Ann Cleland, Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.comwww.UncompromisingValues.com

 

To see the Dunbarton Single Family Home Report for July-August 2016 click the link.

 

Statistics compiled using MRIS (Metropolitan Regional Information Systems.)