Dunbarton Single Family Home Year in Review 2016
Last year (2016) was my first giving you stats for single family home sales in Bristow's only active adult community of Dunbarton. Of course giving you stats for 2016 without some point of reference is rather meaningless. While we walk through the stats, we'll be making comparisons to 2015.
21 homes sold in 2016, 11 of those had basements
33 homes sold in 2015, 20 of those had basements
There was definitely more sales activity in 2015, than we saw last year. However, that may not be unexpected. Take a look at the number of sales broken down by quarter.
1st Quarter: 6 sales in 2016, 8 sales in 2015
2nd Quarter: 7 sales in 2016, 8 sales in 2015
3rd Quarter: 7 sales in 2016, 9 sales in 2015
4th Quarter: 1 sale in 2016, 8 sales in 2015
Notice anything there? It's pretty obvious that our 2016 sales performance in the 4th quarter of 2016 was way down compared to the previous year. The major event that happened during that time last year was our Presidential election. Every four years, we go through this slowing as we approach a Presidential election. Assuming most years are like 2015, any time of year is a good time of year to sell your Dunbarton home.
High Sold Price: $457,000 in 2016, $450,000 in 2015
Low Sold Price: $322,500 in 2016, $309,000 in 2015
Median Sold Price: $365,000 in 2016, $368,500 in 2015
Average Sold Price: $374,433 in 2016, $372,600 in 2015
Despite having fewer sales in 2016, it appears Dunbarton single family home values are holding steady and edging forward ever so slightly. The only price that isn't higher in 2016 is the median. And it is only $3,500 down from last year.
CLOSING COST ASSISTANCE
Sellers want to know when they sell their home is they should expect to shell out money for buyer closing costs. Let's see the trend.
7 of 21 home sellers gave closing cost help in 2016
17 of 33 home sellers gave closing help in 2015
Seems that the likelihood of a seller having to give closing cost assistance to a buyer is decreasing. In 2016, the average closing cost assistance totaled $2,365. The highest amount given was $10,440. The lowest amount given, of those that did give, was $5,000. The median amount of those that gave was $6,000. So even if your buyer did need closing cost help, odds are it wouldn't be crippling.
Besides knowing if they will have to pay a buyer's closing costs, sellers also want to know how long it's going to take to sell their home. Here's a comparison for you:
Highest Marketing Time: 240 days in 2016, 276 days in 2015
Lowest Marketing Time: 0 days in 2016, 4 days in 2015
Median Marketing Time: 22 days in 2016, 49 days in 2015
Average Marketing Time: 64 days in 2016, 69 days in 2015
Looks like the time it took to sell a Dunbarton home in 2016 was faster than it had been the year previous. Might have to do with the lack of inventory in the neighborhood compared to 2015.
If you are thinking of selling your Dunbarton home, give me a call for a free market analysis. We'll drill down and see what comparable properties sold for, and what your competitors are asking in their list prices. Since 2005, I have been a full-time, professional Bristow Real Estate Agent. Helping Dunbarton home owners sell is one of the favorite parts of my job.
Originally posted at SellingBraemar.com.