Braemar residents have two very cool retreats during the summer months–our two Braemar swimming pools. And with temps in the high 90’s or low 100’s, I’m sure the pools are seeing their fair share of Braemar residents. Before we drift away into thoughts of that cool pool water, let’s take a look back at the Braemar townhouse market during the months of May and June. As always, townhouses are divided by whether or not they have a garage into the categories of: Garage Townhouses and Townhouses with No Garage.
To begin, Townhouses with No Garage had two resales during the months of May and June. The average of their sales prices gives us a new average market value of $202,500 for a Braemar townhouse without a garage. That’s a decrease of over 11% in average market value since last report (March-April 2011,) and a decrease of over 3% since this time last year.
If a Braemar townhouse owner (with no garage) put their home on the market and priced it to current market conditions, they could expect to be under contract in an average of 19 days. They could also expect a Buyer to ask for an average of 2% of the sales price in closing cost help.
Braemar Garage Townhouses saw four resales during May and June. The average of their sale prices brings the average market value to $223,250. That’s a decrease of just ober 1% since last report (March-April 2011) and not much to even mention. Compared to this time last year, it’s nearly a 6% decrease in value.
If you placed your Braemar garage townhouse on the market, priced to current market conditions, you could expect to be under contract in 31 days. You could also expect a Buyer to ask for an average of about 1.5% of the sales price in closing cost help.
The next Braemar Townhouse Report will be out in September and will detail sales from the months of July and August. Until then, if you are thinking of selling your Braemar townhouse, I’d be happy to give you an estimate of your home’s specific value in the market. No matter your equity position I can help. I’ve been a full-time Bristow real estate agent and Braemar resident since 2005, and a Short Sale Agent since 2007. And remember, no one knows Braemar better!
Chris Ann Cleland, Associate Broker-Licensed in Virginia, Long & Foster REALTORS®
Other Braemar Property Value Reports for the time period of May-June 2011:
Arista Series (large single family homes built by Brookfield Homes)
Carriage Series (smaller single family homes with detached garages, built by Brookfield Homes)
Courtyard Series (executive style homes, five to a private entrance, built by Brookfield Homes)
Heritage Series (mid-sized single family homes built by Brookfield Homes)
Condo Quarterly (condos known as Barrhill at Inverness Village)