Dunbarton Single Family Home Report: July-September 2022 (3rd Quarter)

Dunbarton Single Family Home Report: July-September 2022 (3rd Quarter)

Perspective is everything, isn’t it? After a weekend of monsoon-like rain after Tropical Storm Ian moved by, a little bit of drizzle and overcast skies almost feels cheerful. Sometimes it take a little bit of the undesirable for us to appreciate what we have, or had.

In this edition of the Dunbarton Single Family Home Report the focus in on the most recent sales in the neighborhood from July to September. Those sales alone, out of context don’t give nearly enough information. That’s why they are combined with one year’s worth of Dunbarton detached home sales dating back to October 1, 2021 when the six and twelve month data points are broken out. For now, let’s take at a look at the most recent detached home sales in Dunbarton for the third quarter.

Two out of four sales sold at their list price. Two sold below their list price, one significantly below list price. (As a point of information, list price above is the original list price a property has when it first hit the market.) This is a departure since last report when only one Dunbarton detached home sold for list price and the remaing six sold above list price. Another difference in the sales reported for the third quarter is that only one had single digit days on market. That was the majority of sales last report. The market is shifting.

When the six and twelve month data points are pulled out to produce the updated year’s worth of Dunbarton single family home sales, we still see a picture of a seller favored market.

Starting with the sold price column, both the six month values are above their respective twelve month values. The gap between the twelve month average and the six month average is definitely tighter than we saw last report. The gap between median values is a tad more. Values are not yet showing a downward trend in the long haul, but sellers pricing high, banking on extreme buyer demand, may be disappointed when they face price reductions to get under contract. The rise of mortgage interest rates, while not directly affecting would-be buyers who come to Dunbarton and other fifty-five plus communities with cash or exceptionally large down payments, is likely to affect the sale of those buyers’ existing homes. Interest rates for a thirty year fixed mortgage are now at 7.5%. That decreases buying power for the lower down payment buyers that are buying those existing homes of would-be Dunbarton home buyers. Likely the effects will be seen in coming reports, but it may not be terribly dramatic.

Seller subsidy is where we learn how much closing cost help Dunbarton detached home buyers were able to negotiate from their sellers. Only one sale out of four gave seller subsidy. Closing cost help is largely not a concern for Dunbarton single family home sellers. The amounts given over the last twelve and six month periods, when averaged for the number of sales, is minscule. Better indicators are the median values at zero. That means the majority of Dunbarton detached home sellers gave no seller subsidy in both time frames. Odds are good a Dunbarton single family home seller would not be troubled with this request.

When it comes to days on market, the six month average marketing time shows a longer period of time to go under contract compared to the twelve month average marketing time, but only by two days. The median values are still at four days. Even with the increase in average marketing time, a well prepared, properly priced and professionally marketed home will not linger on the market.

If you placed you Dunbarton detached home on the market, priced to current conditions, you could reasonably expect it to take about two weeks to go under contract. As discussed above, seller subsidy would be a low probability request from buyers. More importantly, the days of multiple offers and waiving every conceivable contingency are gone. The market is acting more measured. Buyers are taking their time to act, being much more deliberate in their actions. It is likely a home buyer would want a home inspection at a minimum.

The next Dunbarton Single Family Home Report will be out in January. Until then, I wish you every happiness the upcoming holiday season has to offer. As always, if the need to sell your Dunbarton home arises, I would be honored to help you figure out your place in the market. My business runs year round, making my sellers the max the market will allow in any season or any conditions. Put my over seventeen years experience as a Top Producing Bristow Real Estate Agent to work for you and your sale will be handled with the utmost priority and respect.

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 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 Single Family Home Report: April-June 2022 (2nd Quarter)

Dunbarton Single Family Home Report: April-June 2022 (2nd Quarter)

If you have been watching the news, no doubt you are hearing of increased mortgage rates and predictions of a real estate crash. In this edition of the Dunbarton Single Famly Home Report, we will take a look back at the second quarter of the year, which is when the steep mortgage interest rate increases took effect. Specifics on the detached home sales in the neighborhood from April to June will be shared as well as a look back at the six and twelve month data points that indicate market trends. Let’s get right to it.

Between the beginning of April and end of June, there were seven single family detached homes that sold in Dunbarton. Final sold prices ranged from $501,000 to $665,000. The details of all seven sales are listed below.

The sale in pink type was a seller I represented. I was so pleased to help the seller of 13248 Ormond Drive from listing preparation advice to light staging and professional marketing that resulted in far more than she ever dreamed she could get for her home. And she got it only one offer! That’s when you know you have driven up buyer enthusiasm to the top of the market. What makes me just as happy, though you don’t see it represented in the list above, is that six out of seven of these sellers were represented by my chosen brokerage of Long & Foster Real Estate. Being affiliated with such a well respected, local firm has been paramount to my own success in the real estate industry. It is nice to see that Dunbarton sellers also appreciate a quality brokerage with top notch agents.

Taking the seven Dunbarton single family detached home sales and combining them with the sales going back to the third quarter of 2021, our six and twelve month data points are updated. Those market markers are posted below.

Starting the sold price column, the health of Dunbarton single family detached home values is evident when comparing the six month average and six month median values to their respective twelve month values. Each of the six month value is substantially higher than their twelve month counterpart. This means Dunbarton home values are continuing to push up. Not a surprise to those professional, local agents who know that the majority of buyers in the market for one of these homes is coming with a substantial down payment on a small mortgage, or with one hundred percent cash. Mortgage interest rate increases do not affect the qualification of the vast majority of Dunbarton buyers.

Seller subsidy, also known as closing cost help to buyers, is rare in Dunbarton. Most home sellers are never faced with having to give any closing cost help. However, one seller out of seven in the last quarter gave $2,500. Looking at that listing online, it is likely due to some outdated finishes in the home that needed attention. There is only so much buyers are willing to pay a premium for in a seller’s market. Homes do best when they are freshened up prior to listing. Then again, it could have been a repair credit. Another seller in the last six months gave $375. That is an amount commensurate with a home inspection repair. The overall message to would be Dunbarton single family home sellers is that in the last twelve months, only two sellers out of twenty-three have had to give anything to their buyers for closing cost help. It is unlikely any Dunbarton seller would have to give any seller subsidy, particularly if properly prepared for market.

Days on market tells us how long it took Dunbarton single family home sellers to go under contract. The median marketing times in both time periods is stable at four days. However, the six month average is a day longer than the twelve month average and registers at six days. Again, looking at the most recent sales, there is only one seller out of the bunch that didn’t get above list price, gave seller subsidy and took twenty days to go under contract. Listing preparation and professional marketing are so important.

If you placed your Dunbarton single family home on the market, priced to current conditions, you could expect it to be under contract in less than one week. You could also expect to give nothing in seller subsidy. Furthermore, rising mortgage interest rates (still historically low, by the way) are not affecting the Dunbarton real estate market.

The next Dunbarton Single Family Home Report will be out in October. Until then, if you find yourself in a position to sell, do not hesitate to reach out for your no obligation consultation. The market for Dunbarton home sales is not at all seasonal. There are buyers looking year round. The key to maximizing the sale of your home is to hire a professional, local agent who will give you advice on proper listing preparation and professionally market your home. I am happy to put my years of experience and marketing skills to work for you.

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

Part of Being a Braemar Real Estate Expert is Being Well Versed in Dunbarton

Part of Being a Braemar Real Estate Expert is Being Well Versed in Dunbarton

Dubnarton is the Active Adult Section of Braemar

Usually when I am called to duty as a Top Braemar Real Estate Agent, it is because a seller or buyer has found me online, seen an ad, or a yard sign with my information.  I’ve been at this since 2005.  You know my tag line, “No One Knows Braemar Better!”  I take that seriously.  And part of knowing Braemar the best is knowing about the Active Adult section of our neighborhood–Dunbarton.

There I was, minding my own business in our Long & Foster Gainesville office when the phone rang on a rainy Sunday afternoon.  Being one of two agents in the office, the other on the phone, I diverted my attention from my Braemar Property Value Reports to answer.  On the other end of the phone with a man wanting information on a foreclosure listed in Dunbarton, but unwilling to give me any information about himself.  We struck a deal.  I would spend a few minutes tracking down the information on that home and he would call me back for the scoop.  Having been a journalism major in college, getting to the bottom of something is one of the skills I learned early and it serves me well as a Braemar Real Estate Agent.

When the buyer called me back, I told him what I had found and it wasn’t good.  The proposition to buy the foreclosure was a bad deal.  I had inside information on the condition and the situation.  This guy wanted no part of it.  So I asked him what he wanted.  He wanted a small villa style home in an Active Adult community. He had lived in Dunbarton and wanted to live there again.  We struck a deal.  He wasn’t hiring me that minute and that was fine.  But he agreed to think about it if I came back with a home for him to buy.

12921 Fetlar Way is the latest home to be part of my Braemar sales

Within days, I was on the phone with the buyer.  I had uncovered two coming soon listings in Dunbarton.  The first one I was able to get in to see sounded like his dream come true.  Since he was out of the state, there was some going over floor plans via email and phone, determining if this might be a fit.  When we determined it was exactly what he was looking for, he sent his daughter to take a look on his behalf.  The day his daughter saw it and reported back to him, he hired me to represent him buy it.

 

The home in question was 12921 Fetlar Way.  It home had been remodeled.  I had toured it with another buyer a few years earlier when IT had been a foreclosure.  Since then, it had engineered hardwood floors, new appliances and a new roof.  It was really well maintained and listed for $350,000.  It was a steal at that price.

This buyer was thrilled to view the home when he came into town with his wife.  This was exactly what he wanted.  And today, the home became his for $350,000.

Representing sellers in Braemar is only one aspect of my job.  It is my pleasure to represent buyers as well.  And I’m happy to help you find the home you want BEFORE it hits the market.  If you need help buying or selling in Braemar, or Dunbarton, give me a call.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.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 Single Family Home First Quarter Review 2017

Dunbarton Single Family Home First Quarter Review 2017

Spring has finally sprung in Bristow, but the cold overnight temps over the last few days may have you going back and forth between your heat and a/c.  Does make for some great days to open up the windows and let in some fresh air.

Right now, it’s time for the first quarter check up on Dunbarton single family home values.  Let’s get right to it and see how the first quarter of 2017 compares with the first quarter of 2016.

HOMES SOLD

3 homes sold in the 1st quarter of 2017

6 homes sold in the 1st quarter of 2016

Clearly, the first quarter of 2017 is not starting out gang busters for number of sales compared to the previous year.  But is it affecting prices?

SOLD PRICES

High Sold Price:  $399,900 in 1st Q 2017; $449,900 in 1st Q 2016

Low Sold Price:  $335,000 in 1st Q 2017; $335,000 in 1st Q 2016

Median Sold Price: $385,000 in 1st Q 2017; $349,000 in 1st Q 2016

Average Sold Price:  $373,300 in 1st Q 2017; $370,400 in !st Q 2016

Well this feels better than just looking at the number of sales.  Sure the highest sold price isn’t as high as it was in the first quarter of 2016, but the median and average sold prices are higher.  That means the demand is raising prices.

CLOSING COST ASSISTANCE

Another aspect of analyzing home sale data is looking at closing cost assistance that sellers give buyers.

1 out of 3 sellers gave closing cost help in 1st Q of 2017

4 out of 6 sellers gave closing cost help in 1st Q of 2016

Looks like sellers in the first quarter of 2017 had a better shot of not being asked for closing cost help this year.  That’s part of the current high market demand.  The more buyers are competing for listings, the less likely they are going to ask for things like closing cost help.  The one that did give help this first quarter of 2017 gave $6,085.  So that would be a worst case scenario if you were thinking of selling anytime soon.

MARKETING TIME

And the last aspect of analyzing home sale date is to find out how long it is taking to sell homes.  So how long is taking to sell a single family home in Dunbarton?

Highest Marketing Time:  43 days in 1st Q 2017; 189 days in 1st Q 2016

Lowest Marketing Time:  7 days in 1st Q 2017; 4 days in 1st Q 2016

Median Marketing Time:  27 days in 1st Q 2017; 72 days in 1st Q 2016

Average Marketing Time:  26 days in 1st Q 2017; 84 days in 1st Q 2016

As I would expect in a market where buyer demand is outpacing supply, the first quarter marketing time for Dunbarton single family homes this year is shrinking overall compared to last year.

If you have been thinking of making a move, selling during a time of low inventory is a great strategy.  Call me to find out other home selling strategies that I can put 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 Single Family Home Year in Review 2016

Dunbarton Single Family Home Year in Review 2016

Last year (2016) was my first giving you stats for single family home sales in Bristow’s only active adult community of Dunbarton.  Of course giving you stats for 2016 without some point of reference is rather meaningless.  While we walk through the stats, we’ll be making
comparisons to 2015.Dunbarton Single Family Home

HOMES SOLD

21 homes sold in 2016, 11 of those had basements

33 homes sold in 2015, 20 of those had basements

There was definitely more sales activity in 2015, than we saw last year.  However, that may not be unexpected.  Take a look at the number of sales broken down by quarter.

1st Quarter:  6 sales in 2016, 8 sales in 2015

2nd Quarter:  7 sales in 2016, 8 sales in 2015

3rd Quarter:  7 sales in 2016, 9 sales in 2015

4th Quarter:  1 sale in 2016, 8 sales in 2015

Notice anything there?  It’s pretty obvious that our 2016 sales performance in the 4th quarter of 2016 was way down compared to the previous year.  The major event that happened during that time last year was our Presidential election.  Every four years, we go through this slowing as we approach a Presidential election.  Assuming most years are like 2015, any time of year is a good time of year to sell your Dunbarton home.

SOLD PRICES

High Sold Price:  $457,000 in 2016, $450,000 in 2015

Low Sold Price:  $322,500 in 2016, $309,000 in 2015

Median Sold Price:  $365,000 in 2016, $368,500 in 2015

Average Sold Price:  $374,433 in 2016, $372,600 in 2015

Despite having fewer sales in 2016, it appears Dunbarton single family home values are holding steady and edging forward ever so slightly.  The only price that isn’t higher in 2016 is the median.  And it is only $3,500 down from last year.

CLOSING COST ASSISTANCE

Sellers want to know when they sell their home is they should expect to shell out money for buyer closing costs.  Let’s see the trend.

7 of 21 home sellers gave closing cost help in 2016

17 of 33 home sellers gave closing help in 2015

Seems that the likelihood of a seller having to give closing cost assistance to a buyer is decreasing.  In 2016, the average closing cost assistance totaled $2,365.  The highest amount given was $10,440.   The lowest amount given, of those that did give, was $5,000.  The median amount of those that gave was $6,000.  So even if your buyer did need closing cost help, odds are it wouldn’t be crippling.

Dunbarton Sign Fall 2015

MARKETING TIME

Besides knowing if they will have to pay a buyer’s closing costs, sellers also want to know how long it’s going to take to sell their home.  Here’s a comparison for you:

Highest Marketing Time:  240 days in 2016, 276 days in 2015

Lowest Marketing Time:  0 days in 2016, 4 days in 2015

Median Marketing Time:  22 days in 2016, 49 days in 2015

Average Marketing Time:  64 days in 2016, 69 days in 2015

Looks like the time it took to sell a Dunbarton home in 2016 was faster than it had been the year previous.  Might have to do with the lack of inventory in the neighborhood compared to 2015.

If you are thinking of selling your Dunbarton home, give me a call for a free market Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037analysis.  We’ll drill down and see what comparable properties sold for, and what your competitors are asking in their list prices.  Since 2005, I have been a full-time, professional Bristow Real Estate Agent.  Helping Dunbarton home owners sell is one of the favorite parts of my job.

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 Single Family Home Report: September-October 2016

Dunbarton Single Family Home Report:  September-October 2016

The trees are quickly shedding their leaves as we approach the end of November. Thank goodness the early nightfall that late fall and winter bring are mitigated Dunbarton Single Family Homeby the sparkling holiday lights that neighbors put up every year.  It is hard to be in a bad mood when you see holiday lights.  While our minds may be getting into holiday mode, it is time to take a look back at Dunbarton single family home sales during the months of September and October and determine how values are faring.

There were only two Dunbarton single family homes that sold between the beginning of September and end of October.  One sold for $365,000, the other for $369,900.  The average of the two sales gives us our new average market value for a Dunbarton single family home of $367,450.  That’s a drop of 6.5% in average market value since last report.  Then again, last report there were five homes that sold and some were up there in price.  Compared to this time last year, the average market value is down only slightly over 2.5%.  Please remember that we are talking averages.  When it comes to pricing a particular home, Listing Agents like myself will compare you to homes that are similar in size to yours.

Dunbarton Single Family Home Report:  September-October 2016

If you placed your Dunbarton home on the market, priced to current conditions, you could expect it to be under in an average of five days.  That’s pretty fast!  Don’t be surprised if the holiday months increase that time.  You may also pay an average of nearly 1% of the sales price in closing cost help for the buyer.

The next Dunbarton Single Family Home Report will be out in January.  In the meantime, I wish you all a very Happy Holiday season.  And when you are ready to list your Dunbarton home, give me a call for a free market analysis of your specific home’s value and a discussion about what I will do to get your home sold.

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 Duplex Report for September-October 2016, click the link.