Braemar Townhouse Report: January-February 2012
I think it’s safe to say that the mild winter of 2011-2012 is behind us. Spring has sprung in Braemar. Flowers are blooming much earlier this year as a result of unseasonably warm temperatures we saw in the first two months of the year. Not only were January and February good to us weather wise, the sales activity for Braemar townhouss was quite favorable. So are you ready for some good news? I hope so. As usual, the stats for Braemar townhouse sales are divided into two categories: Garage and No Garage.
To start, Townhouses with No Garage saw five resales in the first two months of the year. The high sold price was $265,000 and the low sold price was $212,000. The average of all five sales gives us our new average market value for No Garage Townhouses of $239,000. That’s a 2% increase since last report. And since there were no resales of No Garage Townhouses in January and February 2011, we have no year to year comparison.
If you placed your No Garage Townhouse on the market, priced to current market conditions, you could expect it to be under contract in an average of under three weeks. You could also expect a buyer to ask for an average of 1.5% of the sales price in closing cost assistance.
Garage Townhouses in Braemar saw only one resale in the first two months of the year. It’s sold price becomes our new average market value of Garage Townhouses: $262,000. That represents over a 3% increase since last report and a 4.5% increase since the first two months of 2011.
If you placed your Garage Townhouse on the market, priced to current market conditions, you could expect it to be under contract in an average of over one week. You may also land a buyer, in this competitive marketplace, that doesn’t require closing cost assistance.
The next Braemar Townhouse Report will be out in May and will detail sales from March and April. 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. No one knows Braemar better!
Chris Ann Cleland, Associate Broker-Licensed in Virginia, Long & Foster REALTORS®
Statistics compiled by Chris Ann Cleland using the MRIS (Metropolitan Regional Information System)
You can see the most recent property values in Braemar by clicking the links below:
Arista Series(large single family homes built by Brookfield Homes)
Carriage Series(smaller single family homes with detached garages, Brookfield Homes)
Courtyard Series(executive style homes, five to a private driveway, Brookfield Homes)
Heritage Series(mid-sized single family homes, Brookfield Homes)
Condo Quarterly(condos known as Barrhill at Inverness Village)