Braemar Property Value Report: November-December 2019 (Ryan Homes)
As January draws to a close, I am here at my desk getting the last of the Braemar Property Value Reports, detailing sales from the last two months of 2019, published. Today’s edition focuses on houses built by Ryan Homes in Braemar.
Between November and December 2019, there were three Ryan Homes that sold in Braemar. Final sold prices ranged from $485,000 to $540,000. The details of those three sales are listed below.
Taking all three of three Ryan Home sales and combining them with the entire year’s worth of Ryan Home sales from 2019, our six and twelve month data points are updated and give us the indicators as to what has been happening in our market. Here is the updated six and twelve month snapshot:
Looking first at 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. This means Ryan Homes have been pushing up in value in the last six months.
When it comes to seller subsidy (closing cost help to buyers,) we see another seller favored trend. Both six month values are below their twelve month counterparts. This means that in the last six months, buyers have been asking for less closing cost help.
Days on market (marketing time) shows a trend in the opposite direction. Both the six month average and six month median marketing times are longer than the corresponding twelve month values. This means it has been taking a little longer to sell Ryan Homes in the last six months of 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 about two to four weeks. You could also expect to give less than 1% of the sales price in closing cost help to your buyer.
The next Braemar Property Value Report will be out in March. Until then, if you have been thinking the spring 2020 market may be when you want to sell, know that real estate spring happens a lot sooner than Mother Nature’s spring. Right now buyer demand is very high and we have little to nothing on the market. Those are the conditions that are most seller favorable. Give me a call and let’s talk timing, price and marketing to get you the absolute most the market will bear. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate