Dunbarton Single Family Home Values: March-April 2016
It is time for another Dunbarton Single Family Home Value Report. In this edition, we will focus on sales of single family homes in Dunbarton between the months of March and April. Since this is only my second report in the series, we'll only have reference to our last report. Data referenced for last year was run just for comparison's sake, but does not exist in a stand alone report.
There were two single family homes that sold in Dunbarton between March and April. One was a three bedroom, four bathroom Patuxent III with a finished basement that sold for $392,000. The other was a four bedroom/three bathroom James Madison with a full, unfinished basement that sold for $420,000. The average of both sales gives us our new average market value of $406,000 for a Dunbarton detached home.
Right off the bat, you have to realize that basements are not the norm for every Dunbarton single family home. So when I tell that this new average market value is an 11% increase since last report, you have to bear in mind that many Dunbarton single family homes do not have a basement. Our last report had five resales reported and two of them had no basement, two had unfinished basements. So the comparison is not as broad a spectrum this report. Compared to last year, however, values are up 6%.
If you placed your Dunbarton single family home on the market, priced to current conditions, you could expect it to be under contract in an average of 13 days. You could also expect to pay an average of a little over 1% of the sales price in closing cost help to the buyer.
The next Dunbarton Single Family Home Report will be out in July. Until then, when you are ready to list your Dunbarton home, give me a call for a free market analysis of your specific home's value and a discussion about what I will do to get your home sold.
To see the Dunbarton Duplex Report for March-April 2016, click the link.
Statistics compiled using MRIS (Metropolitan Regional Information Systems.)