Braemar Property Value Report: November-December 2018 (Ryan Homes)
There is no more appropriate picture for the Ryan Homes edition of the Braemar Property Value Report being published today than the one above. That was an Oberlin model that I sold as a Short Sale a few years ago. As a Top Braemar Real Estate Agent, I get plenty of gorgeous weather shots of homes, but not too many in the snow. That’s because not many folks list for sale in the winter months.
You may be surprised how much demand we actually have during the winter in Braemar. This report alone covers the months of November and December, which most think are dead zones are in real estate. Yet, there were four sales of homes built by Ryan Homes in our neighborhood in the last two months of 2018. The details of those sales are listed below:
First thing you may notice are the outliers at either end of the sold price spectrum: $440,000 and $615,000. Fortunately, the method of taking these four sales and compiling them with the entire past year’s worth of Ryan home sales, we get a more stable picture of what is happening with values by separating out six and twelve month data points.
Stability leaps off the table in the sold price column. The six month average sold price is only $133 below the twelve month average sold price. Meanwhile the six and twelve month median sold prices are exactly the same. Really, Ryan homes have not gained, or lost any ground.
Seller subsidy (closing cost assistance) seems to have decent trend happening when we look at the six month average falling below the twelve month average. Yet the six month median seller subsidy is the same as the twelve month median seller subsidy. Of course looking at two of the most recent sales above, they fall above both of the average and median seller subsidy Probably best to call this one stable for now.
Days on market is a category that is going to be tricky for a while. In November, our region switched to a new MLS system which counts days on market differently. So until we have a full year’s worth of data in the new MLS, which would be this same time next year, we can’t conclusively say what’s what. However, glancing at the six month average and median values compared to the twelve month average and median values, I’m not seeing the increase in marketing time that I expected with the new MLS.
If you placed your Ryan home on the market, priced to current conditions, you could expect it to be under contract and potentially well on its way to settlement within two months. You could also expect to pay at least half of one percent of the sales price in closing cost help.
The next Braemar Property Value Report will be out in late March. If you would like to receive the full, letter size, Ryan Homes Braemar Property Value Report by email, send me an email at ChrisAnn@LNF.com. Of course, if the time comes when selling is in your future, call me for a free market analysis. Since 2005, No One Knows Braemar Better!
Chris Ann Cleland
Associate Broker-Licensed in VA
Long & Foster REALTORS®