Dunbarton Single Family Home First Quarter Review 2017

By
Real Estate Agent with Long and Foster REALTORS®, Gainesville, VA VA License # 0225089470

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.

Dunbarton Single Family Home

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 hlep 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 Q2017; 84 days in 1st Q 2016

 

Dunbarton Community EntranceAs 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.  703-402-0037.

 

Originally posted at SellingBraemar.com.

 

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Rainmaker
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Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

It's nice to see the median price keeping pace but often when there are not enough sales, it doesn't really much matter. You know, with 3 sales the median is always the middle. Of course you know that. You're Chris Ann Cleland, master of Dunbarton real estate market reports. Seems like you have low inventory and high buyer demand, too.

May 10, 2017 06:49 PM #1
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Families on the move will certainly appreciate your local real estate market reports.

May 12, 2017 02:46 AM #2
Rainmaker
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Jon Kolsky
Kolsky Realty & Management - Long Beach, CA
Licensed California Real Estate Broker

Chris Ann Cleland ~ awesome market report and great information that all buyers and sellers in the area need. And I hope all buyers and sellers in your area call you for any and all RE needs

May 12, 2017 10:52 AM #3
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