Dunbarton Duplex Report: January-June 2022

Dunbarton Duplex Report: January-June 2022

Welcome to the very first edition of the Dunbarton Duplex Report. These homes have been in high demand in my business for over a decade. For 2022 I decided to add two market reports for Dunbarton to my business. The Dunbarton Single Family Home Report is compiled quarterly. The Dunbarton Duplex Report is compiled semi-annually. This is work I do myself. It is not computer generated. That’s the dedication I have to our local market.

This opening edition is covering the first half of 2022. In addition to detailing sales from the first half of the year, six and twelve month data points will show us market trends. Let’s get right to it.

There were four Dunbarton duplexes that sold in from the beginning of January to the end of June. Being a smaller subset of homes in the neighborhood, this is not unusual. The details of all those sales are displayed below.

The range of final sold prices was $449,900 to $480,000. Not one had a basement, a rather rare find in the neighborhood. None gave any seller subsidy, more commonly known as closing cost assistance to buyers. And every listing was under contract in one week or less.

Taking these four sales and combining them with the second half of sales from 2021, the six and twelve month market markers are extracted.

Starting in the sold price column, we see that both the six month average and six month median sold prices are higher than their respective twelve month values. The lift seen in the six month average is about two percent above the twelve month average. The six month median is one percent higher than the twelve month median. Dunbarton duplexes are continuing to gain value despite substantial increases in mortgage interest rates early in the spring. Surprised? Don’t be. Most buyers in Dunbarton are bringing a substantial down payment, if they are not buying entirely with cash. Having sold a family home, these buyers are equity rich and not susceptible to being priced out of the market by mortgage rate increases.

Seller subsidy is zero down the line. In the last year, probably longer, not one Dunbarton duplex seller gave any closing cost help. In a market with more buyers than homes to buy, this is not unusual. Dunbarton duplexes are a highly sought after product and I am often contacted by buyers who are anxious to find one. I’ve written letters to many Dunbarton duplex owners over the years and reached out to the Dunbarton home owners I know to see if anyone is selling a duplex in the near future. Off market sales are a strong possibility, but the ones that come to market are the ones that will get the highest return because they are exposed to the market.

Given how in demand Dunbarton duplexes are, the time it takes to go under contract should be no surprise. In all the average and median market markers above, there is nothing longer than five days. Of course, maximizing your profit means coming to market with something that lifts buyer enthusiasm. Proper listing preparation and professional marketing are the tools I use to make sure my sellers reach the top of the market. Believe it or not, money can be left on the table in a seller’s market. Relying on the market conditions alone for maximizing return is a poor strategy. You only get one chance to sell your largest asset. Make it count.

If you placed your Dunbarton duplex on the market, priced to current conditions, you could expect it to be under contract in a handful of days. You could also expect to give nothing in seller subsidy.

The next Dunbarton Duplex Report will be out in January. Hard to believe, but it will be here before you know it. Until then, enjoy your summer, fall and year end holidays. If the time comes for you to make a move, get in touch to schedule your confidential listing consultation. It would be my pleasure to put my skills to work to make you the absolute most the market will bear.

Chris Ann Cleland 
Associate Broker, Licensed in VA
Long & Foster Real Estate
703-402-0037, ChrisAnn@LNF.com
www.SellingBraemar.com
www.UncompromisingValues.com
www.ChrisAnnCleland.com

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

 

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 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 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.)

Dunbarton Duplex Report: May-June 2016

Dunbarton Duplex Report:  May-June 2016

We are in between thunder storms in Bristow, VA.  I bet it would feel great to step outside right now.  It was so humid earlier today that it felt like you were wading through Ayres Model Duplex in Dunbartonsoup just walking to the mailbox.  Days like these are great to stay inside and enjoy the fact that your A/C is working.

Right now, I am going to catch you up on the latest for Dunbarton duplexes in this Dunbarton Duplex Report.  This particular edition focuses on sales activity in May and June.

There were three sales of Dunbarton duplexes from the beginning of May to end of June.  The high sold price was $360,000.  The low sold price was $337,000.  The average of all three sales gives us our new average market value for Dunbarton duplexes of $346,333.  That is almost a 1% increast since last report.  More importantly, it is over a 13% increase since last year.

Dunbarton Duplex Report:  May-June 2016

If you placed your Dunbarton duplex on the market, priced to current conditions, you could expect it to be under contract in an average of ninety-seven days.  You could also expect that buyers looking for a Dunbarton duplex won’t need closing cost help.  None of the three sales this report gave any.

The next Dunbarton Duplex Report will be out in September and will focus on sales activity for July and August.  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.  We can Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037also 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 May-June 2016 click the link.

 

Statistics compiled using MRIS (Metropolitan Regional Information Systems.)

Dunbarton Duplex Report: March-April 2016

Dunbarton Duplex Report:  March-April 2016

Welcome to another edition of the Dunbarton Duplex Report.  In this edition we will look back at the sales activity for duplexes (attached single family homes) between the months of March and April.  We will have only our last report to ping back to for Dunbarton Duplex comparison.  As this is only our second report of duplex sales in Dunbarton, year to year comparisons were run strictly for the purposes of this report.

Just like the first two months of the year, there was only one Dunbarton duplex that sold between the months of March and April.  It was an Ayres model with a fully finished basement with a window well exit.  It sold for $344,000.  That sold price becomes our point of comparison for duplex values for this current report.  Compared to last report, it shows nearly a 13% jump in value.   Compared to last year, over an 11% increase in value.  Does that mean your Dunbarton duplex is worth 11% more than it was last year, or 13% more than it was last month?  No.  The sales last report had no basement, neither did the one last year.  That doesn’t mean your Dunbarton duplex hasn’t increased in value, but a larger sample of comparable sales would have to be made to determine your home’s value.

Dunbarton Duplex Report:  March-April 2016

Dunbarton Sign Fall 2015If you placed your Dunbarton duplex on the market, priced to current conditions, you could expect it to be under contract (according to this sale) in 150 days.  That may or may not actually be the case.  For instance, last fall I represented a buyer who was having a hard time finding a Dunbarton duplex to buy.  She snatched one up before it ever hit the market.  As for closing cost help, you might expect that you would give a little over 1/2% of the sales price in closing cost help.

The next Dunbarton Duplex Report will be out in July and will focus on sales activity for May and June.  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.  We can also go Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037over 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 March-April 2016 click the link.

 

Statistics compiled using MRIS (Metropolitan Regional Information Systems.)

Dunbarton Duplex Values: January-February 2016

Dunbarton Duplex Values:  January-February 2016

When I began my real estate career in 2005, I also decided to start compiling bi-monthly property value reports for my neighborhood of Braemar.  Over the years, I Ayres Model Duplex in Dunbartonhave added more reports so home owners of the various home types have an idea of what current property values are doing.  For 2016, I am adding property value reports for Dunbarton.  This is the first Dunbarton Duplex Value Report and will focus on sales of attached single family homes in Braemar’s Dunbarton for the first two months of the year.

There was only one duplex that sold in Dunbarton during the months of January and February.  It was an Ayres model that listed for $300,000 and sold for $305,000.  It had been listed prior to its foreclosure and was hard to tour as there were items all over the floors.  Once it went to foreclosure, it didn’t last long.  The sold price of $305,000 represents a decrease from the average market value of 4.5% since November and December.  However, since there were no sales of Dunbarton duplexes in the first two months of 2015, we have no year to year comparison.

Dunbarton Duplex Values:  January-February 2016

If you placed your Dunbarton duplex on the market, priced to current conditions, you could expect it to be under contract in about a week and a half.  You may not even have to pay closing cost help to the buyer.  This sale didn’t.

The next Dunbarton Duplex Report will be out in May and will focus on sales activity for March and April.  Until then, when you are ready to sell your Dunbarton Chris Ann Cleland, Bristow Real Estate Agent, 703-402-0037duplex, 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, 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 January-February 2016, click this link.

 

Statistics compiled using the MRIS (Metropolitan Regional Information Systems.)

 

 

Modern Day Two Bedroom Cottage in Dunbarton–Just Sold for $350,000

Modern Day Two Bedroom Cottage in Dunbarton–Just Sold for $350,000

On October 15th, I had the privilege of becoming the second Listing Agent to 13243 Ormond Drive in Dunbarton.  It is always an honor to be chosen as the second agent, when the sellers have had no success with a previous agent.  In this case, their listing had been active for 125 days before I listed it on October 15, 2015.

When I first spoke with the Sellers, it was obvious to me that part of the problem with their 13243 Ormond Drive sold on January 29, 2016 for $350,000.not having any traffic through the home was the list price.  They had been listed at $374,900, and lowered their price to $369,900.  Even at that lower price, I had to show them at larger homes were selling for less than they were asking.  And there was a home exactly like theirs in terms of location and floor plan that was listed for $349,900.  No buyer was likely to be willing to pay $20,000 more for their home.  Thankfully, the market conditions resonated with the Sellers as did my recommendations to price at a more reasonable $358,000.

Not letting the dissatisfaction of the previous agent carry over to me, I set myself apart with my service and abilities.  I made multiple trips to the property to make sure the east and west facing rooms were all photographed with an abundance of light.  And since the property was now vacant, I made sure to add some fluff in the form of light Capturing natural light is a great way to make a listing shine.staging.  Towels, flowers, dishes, coffee mugs all helped warm up the vacant space.  Communicating with the Sellers on a regular basis, never letting them feel abandoned is another hallmark of how I do business.  .And when daylight savings time came to an end and natural light was gone at 5pm, I placed white holiday lights to brighten up the otherwise dark spaces.  The home welcomed anyone who couldn’t find a light switch in those dark winter evenings.

Dunbarton Sign Fall 2015It worked!  Sixty-four days after listing with me, about the half the time they had invested with their previous agent, this Dunbarton home had an offer on December 16th.

While the home most like their that has listed for $349,900 had closed recently for $340,000, the appraisal did become a point of concern.  Showing what made me different than their previous agent, I met the appraiser at the property with comps and information about the property to make sure we weren’t immediately pigeon-holed as $340,000.  Again, it worked.

This Patuxent III model by US Homes sold for its contracted price of $350,000 on January 29th, 2016.  

Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037If you want to avoid wasting valuable time with the wrong listing agent, give me a call for a free market analysis of your home’s specific value and make the right choice from the start.

Chris Ann Cleland, Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.comwww.UncompromisingValues.com

Just Sold in Dunbarton: Two Bedroom Duplex for $334,000

Just Sold in Dunbarton:  Two Bedroom Duplex for $334,000

13244 Ormond Drive in Bristow sold for $334,000 on October 21, 2015

When a buyer identifies a particular floor plan that they like in a specific neighborhood, it can be a blessing or a curse.  It depends on your outlook as their
agent.  For those agents that worry that the type of home their buyer wants is not on the market, it’s a curse.  For agents like me, it is a blessing.  If I know exactly what a buyer wants, I can get together a list of those homes in the neighborhood the buyer wants and a letter to send to the owners expressing my buyer’s interest in it.  Sometimes you uncover an owner that may have been considering selling, but hasn’t consulted an agent.  Those are homes for sale that no one knows about…except for you and your buyer.

Kitchen--13244 Ormond

This sale unfolded because my Buyer told me exactly what she wanted:   an Ayres model duplex in Dunbarton.  She chose to work with me because she found a lot of Bristow real estate information from me online.  We looked at the one that was available for sale, which was occupied by a hoarder.  No dice.  And we tried some other home styles on for size.  Nope.  It was an Ayres or bust.  So we waited, until I got tired of waiting and mailed out letters to owners of Ayres models.  We got to see two homes that no one else knew about, but neither quite fit the bill.  One was too big (it had a basement) and the other would have been fine had it not been on a corner lot.

Family Room--13244 Ormond

Then, a past client in the neighborhood who knew about my letter writing Screened Porch--13244 Ormondcampaign, searching for an Ayres, called and told me about a friend she had that was considering moving.  A few days later, my Buyer and I went to check it out.  It was stunning.  No detail was overlooked from the seamless shower and framed mirrors in the master bathroom, to the hickory cabinets with under cabinet lighting and tumbled marbled back splash in the kitchen.  The place was gorgeous.

My Buyer made an offer and I presented it to the Seller, who had decided to go For Sale By Owner in the transaction.  My Buyer gave the Seller the price she wanted.  The Seller, in turn, gave some closing help to my Buyer.  A little more than sixty days later, they had the friendliest settlement I can imagine on October 21st, 2015, when the duplex changed hands for $334,000.

When you know exactly what you want, hire an agent that isn’t afraid to go find it for you if Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037it isn’t on the market.  And if want you want is in Braemar or Braemar’s Dunbarton, call me.  No One Knows Braemar Better!

Chris Ann Cleland, Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.comwww.UncompromisingValues.com