Regency Single Family Home Report: January-February 2022

Regency Single Family Home Report: January-February 2022

With St. Patrick’s Day right around the corner, we have a very solid start to the 2022 real estate market. Regency at Dominion Valley is no exception. In this edition of the Regency Single Family Home Report we will look back at the resales from January and February and track the six and twelve month data points for market trends. Let’s get right to it.

In the first two months of the year, there were four Regency single family homes that sold. Details of those sales are listed below.

A quick glance at these sales, ranging from $691,000 to $800,000 and it stands out that size of a home matters a whole lot more than a golf course lot at this moment in time. The highest sale at $800,000 did have a back view of homes, but was an end of cul-de-sac lot that sided to a wooded area. For purposes of “lot view” above, the back yard view is the one noted as that is the typical leisure area of a Regency home.

Taking these four sales and combining them with the entire past twelve months of Regency single family home sales, the six and twelve month data points are updated as reflected below.

Starting with the sold price it is fantastic to see both the six month average and six month median sold prices are above their respective twelve month sold prices. This means that Regency single family homes are continuing to gain value as this seller’s market keeps rolling.

Seller subsidy is where we learn how much closing cost help Regency buyers were able to get from their single family home sellers. While the four sales from the last two months gave nothing, the six month average seller subsidy is higher than the twelve month average. This is due to six sellers out of thirty-nine in the last twelve months that gave seller subsidy. More importantly, both the six month median and twelve month median seller subsidy remain at zero. That means more than half the sellers in both time frames gave nothing in closing cost assistance.

Days on market has gone up in the six month average from the twelve month average. However, the six and twelve month median marketing times are steady at four days. Based on the four most recent sales the median marketing times are certainly more representative of what is happening now in the market.

If you placed your Regency single family home on the market, you could expect it to be under contract in less than one week. If it takes longer than that to sell, the list price is likely leaping ahead of the market. Buyers, even in a seller’s market, don’t like an overpriced listing. As for seller subsidy, it is highly unlikely you would have to give any as part of your sale.

The next Regency Single Family Home Report will be out in May. Until then, when the time arises to sell your Regency home, we would love to be considered for the job. Despite market conditions which have made some listing agents lazy, we understand you only get one chance to liquidate your largest asset. With us you get two agents with over thirty-three years of local real estate experience who are committed to proper listing preparation and professional marketing. The key ingredients to getting the top of the market, even in seller favored conditions, never changes. Get in touch with us for a confidential market analysis. We are here to help when you need us. We love Selling Dominion Valley.