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

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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 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.

Dunbarton Single Family Home Report: July-August 2016

Dunbarton Single Family Home Report:  July-August 2016

Fall is beginning to show its colors in Bristow.  Of course, the thing I dislike about Dunbarton Single Family Homeautumn is that the brilliant red, orange and yellows on the trees is very short lived.  Nonetheless, fall is here which means summer is over.  That gives us the opportunity to look back at the months of July and August and see how the single family home market in Dunbarton fared the last two months of summer.

For starters, there were five Dunbarton single family homes that sold from the beginning of July to the end of August.  The high sold price was $457,000 and the low sold price was $330,000.  The average of all five gives us our new average market value for a Dunbarton single family home–$393,200.  That is up over 10% since last report’s average market value, but compared to activity from the same time last year, it’s down nearly 1.5%.

Dunbarton Single Family Home Report: July-August 2016

If you placed your Dunbarton single family home on the market, priced to current condition, you could expect it to be under contract in an average of just over nine weeks.  And judging by the five sales in this report, you wouldn’t have to given any closing cost help either.

The next Dunbarton Single Family Home Report will be out in November.  Until then, when you are ready to list your Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037Dunbarton 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, Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.comwww.UncompromisingValues.com

 

To see the Dunbarton Duplex Report for July- August 2016, click the link.

 

Statistics compiled using MRIS (Metropolitan Regional Information Systems.)

Dunbarton Single Family Home Values: March-April 2016

Dunbarton Single Family Home Values:  March-April 2016

It is time for another Dunbarton Single Family Home Value Report.  In this edition, we will focus on sales of single family homes in Dunbarton between the months of March and April.  Since this is only my second report in the series, we’ll only have reference to our Dunbarton Single Family Homelast report.  Data referenced for last year was run just for comparison’s sake, but does not exist in a stand alone report.

There were two single family homes that sold in Dunbarton between March and April.  One was a three bedroom, four bathroom Patuxent III with a finished basement that sold for $392,000.  The other was a four bedroom/three bathroom James Madison with a full, unfinished basement that sold for $420,000.  The average of both sales gives us our new average market value of $406,000 for a Dunbarton detached home.

Right off the bat, you have to realize that basements are not the norm for every Dunbarton single family home.  So when I tell that this new average market value is an 11% increase since last report, you have to bear in mind that many Dunbarton single family homes do not have a basement.  Our last report had five resales reported and two of them had no basement, two had unfinished basements.  So the comparison is not as broad a spectrum this report.  Compared to last year, however, values are up 6%.

Dunbarton Single Family Home Values: March-April 2016

If you placed your Dunbarton single family home on the market, priced to current conditions, you could expect it to be under contract in an average of 13 days.  You could also expect to pay an average of a little over 1% of the sales price in closing cost help to the buyer.

The next Dunbarton Single Family Home Report will be out in July.  Until then, when Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037you 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, Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.comwww.UncompromisingValues.com

 

To see the Dunbarton Duplex Report for March-April 2016, click the link.

 

Statistics compiled using MRIS (Metropolitan Regional Information Systems.)

Santa Brought This Dunbarton Home a Contract!

Santa Brought This Dunbarton Home a Contract!

13243 Ormond Drive went under contract on December 18, 2015.

On October 15th (2015,) I listed this Patuxent model in Dunbarton at 13243 Ormond Drive.  As the second listing agent, the listing came to me with 125 accumulated days on the market.  Thankfully, the Sellers understood that their list price needed adjusting after our initial discussion.  While they had been listed at $369,900 with their previous listing agent, we landed on $358,000 as a reasonable asking price.

One thing I uncovered during our comparable market analysis was the average marketing time for a similiar sized home in Dunbarton, at the time, was 46 days.  That gave the Sellers Kitchen--13243 Ormondand I a reasonable expectation of when we could expect an offer, if we were priced right.

The market did slow down a bit, as discussion of government shutdown came and went.  Meanwhile, always with a mind toward marketing, I did some preliminary staging and updated it as the listing lingered on the market.

On December 16th, after 62 days on the market, we got an offer!  It was a little longer than the average, but half the time of the previously unsuccessful attempt to sell.  Two days later, we were officially under contract.  You’ll have to stay tuned for the final details.

Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037Buyers don’t stop house hunting over the holidays.  In fact, traffic has picked up in Bristow as the year end holidays get closer.  If you are talking to an agent who writes off anything but the spring and summer selling season, you might want to talk with an agent that KNOWS the market is active year round in Bristow.

When you are ready to sell your Braemar or Dunbarton home, give me a call.  No One Knows Braemar Better!

Chris Ann Cleland, Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.comwww.UncompromisingValues.com