Braemar Property Value Report: July-August 2019 (Ryan Homes)
Another gorgeous fall day is upon us and I couldn’t be happier. Today is property photo shoot day for a remodeled townhouse listing I have coming up. And hopefully, tomorrow will be just as lovely for photos of an upcoming Braemar Piggyback townhouse that will also be hitting the market at the end of the week.
Before I head out for the days work errands, I figured I had time to get this Braemar Property Value Report out to you. This particular report focuses on sales of single family homes built by Ryan Homes between July and August. Let’s get right to it.
There were four Ryan Homes in Braemar that sold in our current reporting period. I am so happy to have had one of those sales with sellers that listened to every bit of listing prep and reaped the rewards. That sale highlighted below in pink. For an older home with no exit in the basement, they got a great price and before they ever hit the market. Here’s a list of all the Ryan Home sales during July and August.
Taking these four sales and combining them with the previous twelve months of Ryan Home sales, we get updated six and twelve month data points. They are listed below:
Starting with the sold price category, we see that the six month average sold price is much higher than the twelve month average sold price. When it comes to comparing the six month median to the twelve month median sold price, we still see an increase in value in the short term, but not as drastic as the average. Either way, Ryan Homes are still increasing in value.
Unfortunately, another place where we see an increase is in seller subsidy, also known as closing cost help to buyers. The six month average is a bit higher than the twelve month average seller subsidy. However, the six month median seller subsidy is substantially higher than the twelve month median. Buyers are requesting, and receiving more closing cost help in more recent sales. My sellers at Hopper Lane were very fortunate to only have to give $200 as a repair credit.
Marketing time shows a trend sellers will love. Both the six month average and median marketing times are below their respective twelve month counterparts. This means Ryan Homes in Braemar are selling faster than they have been.
The next Braemar Property Value Report will be out in November. Until then, if you fear you may have missed the top of the market this past spring with all the talk of recession, give me a call and let’s talk about what’s happening in our Braemar real estate market. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate