Braemar Property Value Report: September-October 2019 (Ryan Homes)
On this Thanksgiving Eve it is my pleasure to present another Braemar Property Value Report. This particular report covers the sales of homes built by Ryan Homes in Braemar during the months of September and October.
There were two Ryan Homes that sold. Sold prices were substantially different at $475,000 and $512,000. The details of both of those sales are below:
Combining these two sales with the entire past twelve months of Ryan Home sales in Braemar, our six and twelve month data points are updated to reveal the following:
Looking first at the sold price column, it is great to see both the six month average and six month median sold price above their respective twelve month values. This means the values of Ryan Homes in Braemar are still pushing up.
When it comes to seller subsidy, which you may know as closing cost help to buyers, we see a trend that doesn’t favor sellers. Both the six month average and six month median seller subsidy figures are higher than their respective twelve month values. This means buyers have been requesting, and receiving, more closing cost help in the more recent deals. This could be an early indication of a shift from a seller’s market coming our way. Seller subsidy tends to decrease in seller favored markets.
Finally, the days on market column reveals not much of a change in marketing times from the six month average value from the twelve month average. And there could not be more evidence of stability in marketing time than seeing that the six month median and twelve month median marketing times are identical.
If you placed your Ryan Home on the market, priced to current conditions, you could expect it to be under contract in under three weeks. You could also expect to pay about 1% of the sales price or so, in closing cost help.
The next Braemar Property Value Report will be out in January. I hope you will enjoy your holidays in the meantime. Of course, if the need arises to sell your Braemar home before you next hear from me with another of these reports, please don’t hesitate to get in touch. I work every month of the year getting top dollar for my Braemar sellers. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate