Dominion Valley Carriage Quarterly: 1st Quarter 2022

Dominion Valley Carriage Quarterly: 1st Quarter 2022

Looking back on the very first Dominion Valley Carriage Quarterly, brought to you in February, it seems that it was a rainy, dreary day not unlike today. Rainy days are great to stay inside and put our noses to the grindstone, but we wouldn’t be upset with some sunshine.

Today we look back at the Dominion Valley Carriage home market for the first quarter of 2022. The floor plans of these large, attached single family homes built by Toll Brothers include the Gladwyne, Rosewood and Vanderbilt. If you aren’t sure if your attached Dominon Valley home is a Carriage home, reach out to us and we will be happy to let you know.

During the months of January, February and March there were two Dominion Valley Carriage homes that sold. Details are as follows:

Last report we were looking at a high sold price of $625,000. This time around, we are above $700K! Buyer demand was in full swing in the first quarter of 2022 despite rising interest rates. For the foreseeable future, that is not going to end.

When we take these first quarter 2022 sales and combine them with the second, third and fourth quarter sales from 2021, the six and twelve month data points we use to track market trend are updated as seen below.

Starting with sold prices, though these numbers have increased overall, it is slightly concerning to see both six month values below their respective twelve month values for the second report in a row. The good news is that the first quarter sales are definitely higher than any of the average or median values this report, so we are expecting to see the six month values above the twelve month values in future reports.

Seller subsidy, also known as closing cost help to buyers, is zero down the line. Not one seller in twelve months of Dominion Valley Carriage home sales has given anything to their buyers. This is typical of the high buyer demand and very limited inventory conditions of the seller’s market.

Days on market shows an unusual trend. Both six month marketing times are longer than their respective twelve month times. Could it be that the steep increases in mortgage interest rates are causing buyers to be a bit more hesitant to act? Time will tell as we move forward toward spring and summer.

If you placed your Dominion Valley Carriage home on the market, priced to current conditions, you could expect it to be under contract in less than two weeks. You could also expect to give nothing in seller subsidy.

If the time is nearing for you to sell your Dominion Valley attached home, relying solely on market conditions for a great outcome is not recommended. Even in a seller’s market, money can be left on the table. The way to ensure you get the maximum amount out of the sale of your home is to hire local and hire experience. We offer over 33 years of combined, local real estate knowledge. From proper preparation advice to professional marketing and skilled negotiation, we make sure your home is creating buyer enthusiasm. That is what takes your sales price higher and gets offer terms to favor you.

The next Dominion Valley Carriage Quarterly will be out in July. Until then, don’t hesitate to reach out for your confidential consultation. We Love Selling Dominion Valley!