Dominion Valley Villages Report: November-December 2021

Dominion Valley Villages Report: November-December 2021

The tree lined streets in Dominion Valley are anxious for their leafy wardrobe to arrive. With temperatures so cold recently, spring will be a welcome relief.

As this website gets underway, market reports for each type of home in Dominion Valley are being compiled. Today, the focus is on the Villages. These are the single family homes in Dominion Valley whose curb appeal is off the charts with front porches and no driveway to break up the street scape. These homes all feature rear load garages and the variety of models include the Plymouth, Putnam, Northwyck, Yalesville and Vicksburg. There are enough of these homes selling throughout the year to bring you this report every other month. Today our report looks back to the last two months of 2021.

There was only one Dominion Valley Village style home that sold during our current reporting period. It was a Putnam model at the end of November. The details of that sale are listed below.

When that sale is combined with all the Village style home sales in Dominion Valley for all of 2021, the six and twelve month data points for sold price, seller subsidy and days on market reveal ongoing seller’s market conditions.

The sold price column is the one that always holds the most interest, so let’s start our analysis there. Both the six month average and six month median sold prices are substantially above their respective twelve month values. This means that Dominion Valley Village style homes are continuing to see healthy increases in value.

When we get to the seller subsidy, we learn how much closing cost help buyers were able to negotiate from their Dominion Valley Village home sellers. The answer in the most recent sale matches the six and twelve month median values at zero. Only the six and twelve month averages have anything measurable to report. The numbers are representative of only three Village home sellers giving closing cost help out of a total of seventeen sales in all of last year. It stands to reason that the median values here are most reliable, since more than half of Dominion Valley Village sellers gave nothing in both time frames.

Days on market show a one day speed up in the average and median times to go under contract from the twelve month time frames compared to the respective six month time frames. The bottom line with regard to marketing time is that in the current seller’s market, Dominion Valley Village style homes are getting gobbled up quickly with so little inventory and so many competing buyers.

If you placed your Dominion Valley Village home on the market, priced to current conditions, you could expect it to be under contract in less than one week. You could also expect to give nothing in seller subsidy. By way of contract terms, if the early indicators for what is happening in 2022 are any indication, you would see multiple offers and buyers waiving as many contingencies as they can. You might see low appraisal guarantees and right to void only home inspection contingencies.

The next Dominion Valley Villages Report will be out in March. Until then, if the need arises for you to sell please reach out for a no obligation market analysis with us. Our combined experience will have you cashing out the absolute max the market will allow for your home sale. And we will make the process as stress free as possible. We love Selling Dominion Valley!