Braemar Property Value Report: May-June 2020 (Ryan Homes)

Braemar Property Value Report: May-June 2020 (Ryan Homes)

This summer in the Bristow real estate market has been one for the books.  Despite the pandemic that hit this year, our demand for housing has reached a fever pitch.  Normally, come July and August, our real estate market is pumping the brakes as would-be buyers become more focused on vacations and back to school activities.  Not this year.  This has been the busiest July I have experienced since getting my license in 2005.

In today’s Braemar Property Value Report, which features sales of Ryan Homes in our neighborhood, we will be looking back to the activity from May and June.  During those two months, there were two Ryan Homes in Braemar that sold.  The details of those sales are listed below.

When looking at the two sold prices above we notice quite a spread in the two sold prices.  Who would expect a home with an unfinished basement and one less full bathroom to close for more than a home those items?  Well, upon closer inspection, the home at 12821 Gentle Shade was a foreclosure in rough shape.  It need carpet, paint, floors refinished, etc.  Not uncommon to find that sellers would couldn’t afford their mortgage payments also couldn’t afford to keep up with their homes. Nonetheless, that’s the reason for the difference.

Combining these two sales with the entire previous twelve months of Ryan Homes sales in Braemar, we get updated six and twelve month value markers that tell give us insight to our market.  Those updated value markers are found below.

Looking first at the sold column, we find both the six month average and six month median sold prices are substantially higher than their twelve month counterparts.  This means Ryan Home values in Braemar are still rising.

The seller subsidy column shows us what Ryan Home sellers have been giving buyers in closing cost help on average.  I’m a bit surprised to see both the six month average higher than the twelve month average AND the six month median higher than the twelve month median.  In most reports, I’m finding as buyer competition has increased, seller subsidy has decreased.  We’ll keep an eye on that for next report.

The days on market column shows us how long it has taken Ryan Homes to go under contract in our Braemar market.  This trend is exactly what I would expect to see.  Both the six month values are faster than their respective twelve month values.  This means Ryan Homes have been selling faster in the more recent sales.

If you placed  your Ryan Home on the market, priced to current conditions in Braemar, you could expect it to be under contract in less than a week.  You could also expect to pay a bit more  than 1% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in September.  Until then, I hope you enjoy the rest of your summer.  And if the time comes to sell your Braemar home, give me a call.  With top notch marketing and unparalleled knowledge of our neighborhood, I can help you maximize your profit in any market conditions.  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

 

Braemar Property Value Report: May-June 2019 (Ryan Homes)

Braemar Property Value Report: May-June 2019 (Ryan Homes)

With just a few days left in July, I’m getting the last of the Braemar Property Value Reports out for public consumption.  It’s an internal deadline that I set for myself that I will have these out by the last day of the month following the reporting period.  Real estate agents being independent contractors with no one to answer to, setting deadlines is a business practice you will find among top agents.

This particular Braemar Property Value Report covers the sales of single family homes, built by Ryan Homes, during the months of May and June.  During that time, there were four resales, ranging in sold price from $475,000 to $570,000.  Details of those sales are listed below.

Taking these sales above and combining them the entire preceding twelve months of Ryan Home sales, we get new six and twelve month data points, pictured below.

Examining the trends in the sold prices, there is an increase in both the six month average and six month median sold prices from their respective twelve month values.  This means Ryan Homes are still pushing up in value.

When it comes to seller subsidy, a.k.a. as closing cost assistance to buyers,  a trend presents itself that does not favor Ryan Home sellers.  Both the six month average and six month median seller subsidy values are higher than their twelve month counterparts.  This means buyers have been asking for, and receiving, more seller subsidy in the most recent sales.

Days on market, a category that has become unreliable with a change in how that data is recorded in our new MLS, which was adopted in November 2018, we see that the six and twelve month averages are the same.  The six month median is only one day shorter than the twelve month median.

If you placed your Ryan Home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement in a month at worst.  You could also expect to pay about 1.5% of the sales price in closing cost help.

The Braemar Property Value Report will be out in September.  Until then, if you want to investigate what the market might bring in regards to your own home’s value, give me a call for the most accurate, free, market analysis.  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

 

 

Braemar Property Value Report: March-April 2019 (Ryan Homes)

Braemar Property Value Report: March-April 2019 (Ryan Homes)

As I type this edition of the Braemar Property Value Report, featuring sales of houses in Braemar built by Ryan Homes, Memorial Day Weekend is coming to an end.  I hope everyone is out there enjoying every minute.  Back to work and school on Tuesday is definitely going to be a rude awakening for a lot of folks.  For me, I love what I do as a Top Braemar Real Estate Agent.  Going back to work is a pleasure.

So let’s get to this Braemar Property Value Report for Ryan Homes.  There was only one sale of a Ryan Home between March and April.  It was a Rosemont model for $499,000.  Details of the sale are listed below.

When combined with the entirety of the previous twelve months of Ryan Home sales in Braemar, the updated six and twelve month data points are as follows:

Starting with the six month average and median sold prices we see that both are above the respective twelve month values.  This means that Ryan Homes are still gaining value.

A trend not favorable to Ryan Home sellers in Braemar is found in the seller subsidy column.  The six month average seller subsidy (closing cost assistance to buyers) is just about doubled what it is when we look at the twelve month average.  That’s a big jump in the short term.  What tempers this increase is seeing that the six month median seller subsidy only went up by 50% compared to the twelve month median seller subsidy.  Whether or not a Braemar seller is going to find themselves in a position to give closing cost help to a buyer depends on the circumstances.  If buyer demand keeps up and inventory remains sparse, it is likely that seller subsidy will not be a huge factor for most Ryan Home sellers.

Days on market, or marketing time as I like to call it, is almost unchanged in the six month average compared to the twelve month average.  Meanwhile, the six and twelve month median marketing times are still at only seven days.  The six month average may even be lower.  As you recall, our MLS  changed to a new system in November last fall that calculates this figure differently.  When out on listing appointments, I actually calculate these figures by hand for the most accurate information.

If you placed your Ryan Home on the market, priced to current conditions, you could expect it to be under contract in as little as a week, or as much as five weeks or so.  You could also expect to give about 1% of the sales price in closing cost help, if any at all.

The next Braemar Property Value Report will be out in July.  Until then, when the need to sell your Braemar home arises, give me a call for the most accurate analysis of your home’s worth in our current market.  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

 

 

 

Braemar Property Value Report: November-December 2018 (Ryan Homes)

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®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

Braemar Property Value Report: September-October 2018 (Ryan Homes)

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!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com