Dominion Valley Single Family Home Report: January-February 2022
The first two months of 2022 are behind us, making it time for another Dominion Valley Single Family Home Report. This report focuses on sales of detached homes in the Toll Brothers’ collections of Fairways, Carolina and Villas. There are so many floor plans between these three series. If you want to figure out which Dominion Valley Report pertains to you, email us at homes@SellingDominionValley.com and we will let you know which report your home fits.
During the months of January and February there was one more sale than we saw last report. Details of those sale are listed below.
Three things stand out looking down this list of single family home sales in Dominion Valley. First, every home sold above its list price. Second, only one home gave closing cost help. Third, only one home took long enough to sell it is counted in double digits.
Combining these five sales with the sales going back to March 2021 for a full twelve months of data, our six and twelve month data points are updated as follows:
Starting in the sold price column the seller’s market continues to increase Dominion Valley single family home values. Both the six month average and median sold prices are higher than their respective twelve month values.
Seller subsidy, where we learn how much closing cost help buyers were able to negotiate from their Dominion Valley sellers, shows improvement since last report in the average values. The six month average is still slightly above the twelve month average, but that is likely due to the one sale that closed in December that gave $14,000. (Way too much to be giving away in a seller’s market.) Both the six month and twelve month median seller subsidy values at zero tell us that more than half of sellers in both time frames gave nothing in closing cost help. No seller subsidy is typical throughout the market with so many buyers and not enough inventory.
Days on market shows the exact same figures we saw last report. Both six month values are slightly longer than their respective twelve month values. This is likely due to a slight easing in buyer demand that we saw in the second half of 2021. When saying “slight easing” think of a 110° day dropping to 103°. It is still hot outside, but definitely not as hot as it was. Single digits down the line for average and median marketing times is a great thing to see.
If you placed your Dominion Valley single family home on the market, priced to current conditions, you could expect it to be under contract in a week, or less. (Probably less if your home has been properly prepared for the market.) You could also expect to to give nothing in seller subsidy. Proper preparation and having skilled negotiators on your side would go a long way to keeping that number at zero.
The next Dominion Valley Single Family Home Report will be out in May. Between now and then, if 2022 looks like it may be the year you are selling, it is never too early to engage in conversation with us. Our confidential consultations involve a look at comparables sales, listing prepartion advice and a discussion of our listing services. No matter the market, making sure you make the most the market will bear when you sell is our priority. You only get one chance to make a first impression on buyers in our market. Making one that creates buyer enthusiasm is where additional money shakes out, even in a seller’s market. Get in touch and learn what our combined 33+ years of local real estate experience can do for you. We love Selling Dominion Valley!