Braemar Townhouse Report: September-October 2018

Braemar Townhouse Report: September-October 2018

Bringing up the rear in this round of Braemar Property Value Reports is the Braemar Townhouse Report.  My self-imposed deadline for getting each report online is the last day of the month, following the second month in the reporting period.  So today is my deadline.  Whew!

This Braemar Townhouse Report focuses on sales of traditional three level townhouses with a backyard in Braemar for the months of September and October.  During that period, there were eight townhouse sales in Braemar.  Sold prices ranged from $275,000 to 365,500.  The details of those sales can be found below:

Taking these most recent sales and updating the last year’s worth of sales data of Braemar townhouses with them, we get new six and twelve month data points to look over.  Here’s what we find:

Every Braemar townhouse owner’s first interest is naturally going to be the sold prices.  The good news is that, even though it is by just a little, the six month average and median sold prices are both above the twelve month average and median sold prices.  Braemar townhouse values are still inching up.

When it comes to seller subsidy (closing cost assistance to buyers), the six month average and median numbers show an increase over the twelve month average and median values.  This means Braemar townhouse owners are giving more money in closing cost help.

Days on market, oddly enough, is unchanged whether you look at the average or median values from twelve months to six months.  Selling a Braemar townhouse is not taking any longer, or happening any faster.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it be under contract in a little over a month.  You could also expect to give nearly 1.5% of the sales price in closing cost help.

The next Braemar Townhouse Report will be out in January.  Until then, if you would like to begin receiving this report emailed directly to you, send me an email at ChrisAnn@LNF.com.  All I need is your property address and email address where you would like the report delivered.

Before the next report, if you find yourself needing to sell, give me a call for a free market analysis.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

 

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Braemar Property Value Report: September-October 2018 (Ryan Homes)

Braemar Property Value Report: September-October 2018 (Ryan Homes)

If there was one mediocre weather event that I could get rid of, it would be days of strong, gusting winds.  As much as I dislike rain, I would rather have that than wind.  At least the sound of rain is soothing.  The sound of a strong gust of wind hitting my house has the opposite effect.   Might be time to get lost in my headphones with some good music playing while I present this Braemar Property Value Report detailing sales of Ryan Homes in our community.

During our current reporting period, which is the months of September and October, there were four Ryan Homes sold in Braemar.  Their sold prices ranged from $430,000 to $500,000 and are detailed below.

Taking these most recent sales and placing them in with the last year’s worth of Ryan Home sales, we get new six month and twelve month data points that will give us some indications as to what is happening with home values and other data points important to Ryan Home owners in Braemar.

Looking first at the six month average sold price compared to the twelve month average sold price, we see a drop in average value in the short term.  The six month median sold price is also below the twelve month median sold price, but not by as much.  Time will tell if this is a downward trend in value, or if this our market reaching a more stable condition.  The seller’s market has definitely cooled.

Better news is that seller subsidy (closing cost assistance to buyers) is down in both the six month average and median value compared to their twelve month counterparts.  This means Ryan Home owners in Braemar are giving less in closing cost help to buyers.

Days on the market, which I like to refer to as marketing time, shows a slight decrease in average days on market in the six month values compared to the twelve month values.  The six month median days on market, however, shows a much more significant decrease in marketing time.  Ryan Homes in Braemar seem to be selling a bit faster.

If you placed your Ryan Home on the market, priced to current conditions, you could expect it to be under contract in a month or two.  Odds are also in your favor that you could expect to give a nominal amount in closing cost help.

The next Braemar Property Value Report will be out in January.  If you would like to sign up for direct email of these reports when they are ready, send me an email to ChrisAnn@LNF.com with “BPVR Request” in the subject line.   Include your property address, so I can get you the proper report, and the email address where you would like to receive it.

Until January, if you find yourself in a position to sell in our year end market, don’t panic.  There are many actually advantages to off-season selling.  Give me a call for a free market analysis anytime.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

Braemar Property Value Report: September-October 2018 (NV Homes)

Braemar Property Value Report: September-October 2018 (NV Homes)

It is probably obvious to you that not every real estate agent you may know that serves our area goes to the trouble of preparing market reports for the area.  Sure, there are cut and paste lines from the MLS that make it to my door, but they give you all the information for the neighborhood.  How is that helpful?  If you own an NV Home, does it matter how long it took a townhouse to sell?  Or a carriage home?  Or a house in the age restricted Dunbarton?  No, it doesn’t.  That’s why I personally prepare these reports myself, and take the time to explain them to you.

Today’s Braemar Property Value Report focuses on sales of NV Homes, of which there were two during our reporting period of September and October.  The details of those sales are listed below:

When I take these two sales and replace September and October 2017 in my rolling year’s worth of NV Home sales, I am able to get a fresh look at our six and twelve month average and median data points.  They now look like this:

When comparing six month values to twelve month values, the shorter term are indicative of current trends when compared to the longer term.  The six month average sold price has fallen slightly below the twelve month average sold price.  By itself, that may be a sign of a slowing market for sellers.  However, the fact that the six month median value is the same as the twelve month median does not give that indication.  What NV homeowners are experiencing are stable market values.

Seller subsidy (closing cost assistance to buyers) is showing short term trends that NV homeowners will love.  The six month average seller subsidy is lower than the twelve month average seller subsidy.  The six month median seller subsidy is way below the twelve month median seller subsidy.  This means that NV homeowners have been giving less money in closing cost help to buyers.

Days on market, or as I call it, marketing time is another showing stability.  The six month average marketing time is about two weeks faster than the twelve month average marketing time.  That’s great and by itself would be indicative of a trend that NV Homes are selling faster.  However, when we look at the median marketing times in the six and twelve month markers, we see they are exactly the same.  This is stability in marketing time as far as I am concerned.

If you placed your NV Home on the market, priced to current conditions, you could expect it to be under contract in under fifty days.  You could also expect to give under 1% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in January.  If you would like to be on the email list to receive the report relevant to your home style, send me an email at ChrisAnn@LNF.com with BPVR Request in the subject line.  Then give me your property address and email address where you would like the report delivered.

Of course, if you have a need to sell this year end, don’t panic.  Give me a call at 703-402-0037 and I’ll be happy to go over comps and tell you why my year end listings sell.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

Braemar Property Value Report: September-October 2018 (Heritage Series)

Braemar Property Value Report: September-October 2018 (Heritage Series)

Driving through Braemar, I notice more and more houses displaying holiday lights, or Christmas trees in the window.  It all brings a smile to my face. Eventually, I’ll get up the motivation, after watching enough Hallmark Christmas movies, to get up my own tree, but for now, my motivation lies in getting the latest in property value news out to the neighborhood.  This Braemar Property Value Report focuses on homes in the Heritage Series.  Heritage Series homes are mid-sized single family homes, built by Brookfield Homes.  They have two car attached garages and include the following floor plans:  Exeter, Yardley, Zachery (a.k.a. Zurich) & Waverly.  The homes built by Coscan in Braemar North Gate are also included in this group, as they are similar in size.

This particular reporting period, covering sales between September and October, comes up with only three Braemar Heritage homes that sold.  the details of these sales are listed below:

As you can see, there is quite a difference in the lowest sold price and the highest sold price.  Big difference like that can throw off a tracking of average and meidan values.  That’s one of the reasons I have adjusted the way I do these reports and look at those values.  What happens next is I simply replace the data from September and October 2017, with these three sales in my rolling twelve month data store.  Then I parse out the six and twelve month values, giving us this:

For starters, looking at the six month average and median sold prices we see that they are both falling below the twelve month average and median sold prices.  that’s not great news and could be an early indication that Heritage home values are starting to slip.  At least two of the current three sales reported above fall about the six month median.  Only one falls above the six month average.  Time will tell if this is truly a slip in value, or a momentary anomaly.  After all, with news that Amazon is basing one of its headquarters in Arlington, a boost in market value in our entire metropolitan marketplace is expected.

The six month average seller subsidy (closing cost help to buyers) is a tad higher than the twelve month average.  However, the six month median seller subsidy is lower than the twelve month seller subsidy.  Looks like Braemar Heritage home owners continue to give about the same amount of closing cost help in their deals.

Finally, days on market shows that the six month average and median values are below the twelve month average and median values.  In the cast of the median, it is only by one day.  This means that it is taking about the same amount of time to sell a Braemar Heritage home as it has for the past year.

If you placed you Braemar Heritage home on the market, priced to current conditions, you could expect it to be under contract in about a month. You could also expect to give about 1% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in January and will detail our year end market, which happens to be one that I believe in very strongly.  It gets a bum rap from most real estate agents, but there really is a something magical in finding a home during the holidays.  And that kind of emotional pull by buyers, with limited inventory, can do wonders for a seller.  Want to explore the option of selling in the off-spring market?  Give me a call.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

 

Braemar Property Value Report: September-October 2018 (Courtyard Series)

Braemar Property Value Report: September-October 2018 (Courtyard Series)

A rainy Saturday, post Thanksgiving family gatherings, is a great opportunity for me to get another Braemar Property Value Report together for my fellow Braemarians.  Today’s report focuses on Courtyard home sales in September and October.  If you aren’t familiar with Braemar Courtyard homes, they are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Ballston and Clarendon.

As is sometimes the case, as Braemar Courtyard homes only number 142 homes in the entire Braemar community of over 2,800 homes, there were no sales in our current reporting period.  That doesn’t mean that we don’t have updated data.  Because I keep a rolling store of twelve months of data, I simply dropped the sales from last September and October and updated our six and twelve month data points.  Here’s what we find:

The six month average sold price has dipped below the twelve month average sold price.  That’s not great to see, but the six month median sold price is above the twelve month median sold price.  Hard to see a trend with contradictory information, so we’ll have to wait for more Braemar Courtyard homes to sell in our next report to see which way we are going.  For now, I would call this stable values.

The six and twelve month seller subsidy (closing cost assistance to buyers) is much lower in the six month average and median values compared to the twelve month counterparts.  That’s a great trend if  you are Braemar Courtyard home owner. Not so great if you are a prospective Braemar buyer.

When it comes to days on market, again we see data favoring Braemar Courtyard home owners.  The six month average and median days on market is lower than the twelve month average and median values.  That would indicate Braemar Courtyard homes have been selling faster in the last six months.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in a little over a week to two and a half weeks.  You could also expect to chip in a small amount of money to the buyer in seller subsidy.

The next Braemar Property Value Report will be out in January.  I know we will have some Braemar Courtyard home sales to share.  Until then, if you find yourself considering the sale of your Braemar Courtyard home, give me a call to find the benefits often overlooked in our year end market.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

Braemar Property Value Report: September-October 2018 (Carriage Series)

Braemar Property Value Report: September-October 2018 (Carriage Series)

Coming out of my turkey and gravy induced slumber from yesterday’s Thanksgiving feast, the last thing I want to do is wrestle with shoppers on Black Friday.  No sir.  I would make rather dive back into my routine as a Braemar Real Estate Agent.  When you love what you do, it never feels like work.  Today I will share you with you the latest Braemar Property Value Report for Carriage homes in our neighborhood.  Braemar Carriage homes are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

This particular reporting period covers the months of September and October, during which time we saw five sales of Braemar Carriage homes.  The details of those sales are detailed below:

When we take the data from these sales and update our six and twelve month values for Braemar Carriage homes, this is what we get:

When looking at the six month average and median sold prices compared to the twelve month average and median sold prices, we see that Braemar Carriage homes are still inching up in value.  That’s good to see.  In fact, all but one of the sales from the current reporting period fall above the six month average and median values.  All good indications.

When it comes to seller subsidy (closing cost assistance to buyers) the six month average and median compared to the twelve month values indicate that sellers have been giving less closing cost assistance.  Again, looking to our current reporting period sales, that is echoed above.  Three out of five sales gave zero seller subsidy.

Days on the market, or marketing time as I like to call it, is another story.  The six month figures are higher than the twelve month, particularly when it comes to median days on market.  Worse yet, the marketing time for the five sales in the current reporting period all took longer than the average and median values noted here.  This is an indication that the buyer demand for Braemar Carriage homes is not as hot as it was.  Values are holding their own and pushing up little by little, but it is taking longer for these homes to sell.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect your home to be under contract in at least a month.  If you looked at the most recent sales, it may take even longer.  You could also expect to pay about 1% or so of your sales price in closing cost help.  Then again, you may luck out like the three of the last five sales have and give nothing.

The Braemar Property Value Report will be out in January.  Until then, I wish you every happiness the holiday season has to offer.  And if you find yourself facing an off spring market sale of your Braemar home, give me a call.  I may be one of the only agents you will ever encounter in our market that can tell you about the secrets that make our year end market a strong one for sellers.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

Braemar Property Value Report: September-October 2018 (Arista Series)

Braemar Property Value Report: September-October 2018 (Arista Series)

Before starting some preparation for Thanksgiving dishes tomorrow, I thought it would be a good idea to put out this Braemar Property Value Report detailing sales of Arista Series homes in our neighborhood for September and October.  Even though it is fall, there is a lot going on in our market, not even mentioning the news that Amazon chose Arlington for its headquarters.  It is likely some of those newly employed by Amazon will be moving to Prince William County and an Arista Home would be a great choice for them.  If you are wondering what Arista homes are,  they  are the largest homes built by Brookfield Homes and include the Allister, Buckingham and Canterbury floor plans.  

There was only one Arista home that sold in our current two month reporting period.  It was a Canterbury that sold for $570,000.  It had originally listed for an optimistic $615,000.  The final list price, in the details below was $589,900.

When we take this sale and run updated six and twelve month data points, here is what we find:

The good news is that the six month average and median sold prices are higher than the twelve month average and median sold prices.  The trend present in comparing the six month values to the twelve month values is that Arista home prices are still going up.  However, it is not great to know that the most recent sale falls below all but the twelve month average.  If future sales continue to slump, this trend will be coming to a halt.

A trend that is not great for seller is that the average and median six month seller subsidy (closing cost help to buyers) is much higher than the twelve month average and median seller subsidy values.  As our marketplace has been dealing with slowing demand, buyers are asking for more and more closing help.  However, there may be a tad of hope that the most recent sale in October gave no closing help.  Unfortunately, I think that may because of the low sales price.

When it comes to days on market, or marketing time, not much has changed in the short term compared to the longer term.  Arista homes are taking about the same amount of time to sell.  Perhaps we’ll get a lift in marketing time and sold prices as those new Amazon employees discover these lovely homes in Braemar.

If you placed your Arista home on the market, priced to current conditions, you could expect it to sell in as little as a month and a half or as long as nearly eleven weeks.  You could also expect to pay $10,000 to $12,000 in seller subsidy.

The next Braemar Property Value Report will be out in Januaury.  Until then, I hope you have a wonderful holiday season.  If you find yourself in a position to sell between now and then, give me a call.  The year end market has a lot of benefits I would love to share with you.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com