Braemar Property Value Report: March-April 2020 (Ryan Homes)
Yikes! The end of the month is only a couple days away and I’ve got two Braemar Property Value Reports left to share. Today, let’s look at the Braemar Property Value Report that I put together for homes built by Ryan Homes in our neighborhood.
During our current reporting period, March and April 2020, there were three Ryan Homes that sold. The details of those sales are listed below:
Taking these three sales and combining them with the entire past twelve months of Ryan Home sales in Braemar, our six and twelve month data points are updated as pictured below.
Starting first 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. This means Ryan Homes in Braemar are still gaining value.
Next up is the seller subsidy column. Seller subsidy is also known as closing cost help that sellers give buyers. While the six month average seller subsidy is ever so slightly less than the twelve month average seller subsidy, the six and twelve month median values are exactly the same. Looks like this is a an area that isn’t changing.
When it comes to marketing time we see conflicting information. The six month average marketing time is longer than the twelve month average marketing time. In contradiction, the six month median marketing time is a bit shorter than the twelve month median marketing time. Hmm. We’ll have to wait and see where this trend goes, but for now we’ll call it stable.
If you placed Ryan Home on the market, priced to current conditions in Braemar, you could expect it to be under contract in as little as a week, or as long as a month. You could also expect to pay about 1% of the sales price in seller subsidy.
The next Braemar Property Value Report will be out in July. Until then, despite the pandemic, we are experiencing a very strong seller’s market. If you want to take advantage of it, hiring the right real estate agent has never been more important. My top notch marketing, combined with the COVID showing precautions I recommend to sellers, can get you top dollar and keep you safe at the same time. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate