Braemar Property Value Report: March-April 2018 (Ryan Homes)
The Braemar pool opening weekend is here! Hope you’ve got your pool pass, swimsuit and sunscreen ready to go. And don’t forget a brightly colored beach towel. Even as an adult, picking out a fashionable beach towel is fun.
When you enjoy your work, like I do as a Top Braemar Real Estate Agent, even time spent doing these market reports is satisfying. Yes, I could be on my front porch in an Adirondack chair, adult beverage in my hand, watching the world go by right now, but I would feel bad enjoying myself when it is time (by my own self-imposed calendar) to do another Braemar Property Value Report. This one focuses on sales of homes built by Ryan Homes.
There were two Ryan Homes that sold between the beginning of March and end of April. The details of the sales are below:
When we take these two sales, and freshen up the data for the past year of Ryan Homes sales, here’s what we find:
The first thing I notice looking at these numbers is that the six and twelve month median sold prices are the same. That means values are holding steady. However, the six month average value dipping below the twelve month average is not something I necessarily like seeing. The good news is that it is a small dip and not likely to be a negative indicator. The best news is that seller subsidy in the six month average and median value has gone down compared to the twelve month seller subsidy values. That means sellers are paying less in closing cost assistance to buyers in the last six month. The thing I don’t like seeing is that the marketing time has increased in both the six month values compared the twelve month values. Still, looking at the raw data, some homes, like the second sale noted above, happen in a week or less.
If you placed your Ryan Home on the market, priced to current conditions in Braemar, you might set your expectations to be under contract in about two months. If it happens quicker, you won’t be disappointed. Plus, we are heading into the slower summer selling season. You could also expect to pay an average of nearly 1% of the sales price in closing cost help to the buyer.
The next Braemar Property Value Report will out in July. If you have specific questions about selling your home in the meantime, give me a call. Since 2005, No One Knows Braemar Better!
Now, if you’ll pardon me, it’s time for me to enjoy that glass of wine on the porch. Wonder if there will be any deer walking along the wood line.
Associate Broker-Licensed in VA
Long & Foster REALTORS®