Braemar Condo Quarterly: October-December 2012
Happy New Year to my fellow Braemar residents. With the last quarter of 2012 on the books, it is time to look back and see how Braemar condo values fared as 2012 came to close.
There were only two sales of Braemar condos to report in the fourth quarter of 2012. The high sales price was $210,000, while the low sales price was $165,000. The average of their two sales prices gives us our new average market value of Braemar condos: $$187,500. That’s over a 5.5% increase since the average value noted in the third quarter report of 2012. However, it’s nearly a 1% drop in value since the fourth quarter of 2011.
If you placed your Braemar condo on the market today, priced to current market conditions, this report indicates you could expect it to be under contract in a little over a week. You may also not have to pay anything to assist your buyer with closing costs. As the market demand has increased and inventory levels have decreased, buyers have become more competitive in the way they write their offers. Not asking for closing cost assistance in one way you may see a buyer compete for your Braemar condo..
The next Braemar Condo Quarterly will be out in April and will detail sales from the first quarter of 2013. Until then, if you are contemplating the sale of your Braemar condo, call me for a free market analysis of your specific condo’s value. I’ve been a full-time real estate agent and Braemar resident since 2005. I’ve also been a Braemar Short Sale Agent since 2007. No matter what your equity position, I can get you the most amount of money for your Braemar condo in the shortest amount of time. 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 Systems.)
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 home, five to a private driveway, Brookfield Homes)
Heritage Series (mid-sized single family homes, Brookfield Homes)
Braemar Townhouses (garage and no garage townhouses)