Braemar Property Value Report: September-October 2018 (Ryan Homes)
If there was one mediocre weather event that I could get rid of, it would be days of strong, gusting winds. As much as I dislike rain, I would rather have that than wind. At least the sound of rain is soothing. The sound of a strong gust of wind hitting my house has the opposite effect. Might be time to get lost in my headphones with some good music playing while I present this Braemar Property Value Report detailing sales of Ryan Homes in our community.
During our current reporting period, which is the months of September and October, there were four Ryan Homes sold in Braemar. Their sold prices ranged from $430,000 to $500,000 and are detailed below.
Taking these most recent sales and placing them in with the last year’s worth of Ryan Home sales, we get new six month and twelve month data points that will give us some indications as to what is happening with home values and other data points important to Ryan Home owners in Braemar.
Looking first at the six month average sold price compared to the twelve month average sold price, we see a drop in average value in the short term. The six month median sold price is also below the twelve month median sold price, but not by as much. Time will tell if this is a downward trend in value, or if this our market reaching a more stable condition. The seller’s market has definitely cooled.
Better news is that seller subsidy (closing cost assistance to buyers) is down in both the six month average and median value compared to their twelve month counterparts. This means Ryan Home owners in Braemar are giving less in closing cost help to buyers.
Days on the market, which I like to refer to as marketing time, shows a slight decrease in average days on market in the six month values compared to the twelve month values. The six month median days on market, however, shows a much more significant decrease in marketing time. Ryan Homes in Braemar seem to be selling a bit faster.
If you placed your Ryan Home on the market, priced to current conditions, you could expect it to be under contract in a month or two. Odds are also in your favor that you could expect to give a nominal amount in closing cost help.
The next Braemar Property Value Report will be out in January. If you would like to sign up for direct email of these reports when they are ready, send me an email to ChrisAnn@LNF.com with “BPVR Request” in the subject line. Include your property address, so I can get you the proper report, and the email address where you would like to receive it.
Until January, if you find yourself in a position to sell in our year end market, don’t panic. There are many actually advantages to off-season selling. Give me a call for a free market analysis anytime. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®