Braemar Townhouse Report: January-February 2013
With a new year, comes a chance for new outlooks and fresh starts. One of the things I’ve decided, after providing this Braemar Townhouse Report since mid-2005, is to change up the presentation of the information. Up to this point in time, I have separated townhouses by whether or not they have a garage or not. Some piggyback townhouses, with no back yard, would be included in the garage category.
Well, with the beginning of 2013, I have decided to put Braemar townhouses into one category A Braemar townhouse, with or without a garage, will be a three level residence with a small back yard and be fee simple ownership. In other words, it won’t be a condo, patio home or piggyback townhouse. A So as we look back to last month’s and last year’s values, please know that those average values have been adjusted to reflect a true comparison.
In January and February there were five Braemar townhouses sold. Only one of those townhouses that sold had a garage. The highest sales price was $275,000 and belonged to an end unit with four bedrooms and three and a half bathrooms. The lowest sales price was $225,000 and was a two bedroom, two and a half bathroom townhouse. All five sales average out to $247,200, which is our new average market value for Braemar townhouses. That represents an increase of over 4.5% since last report and an increase of nearly 2% since last year.
If you placed your Braemar townhouse on the market, priced to current market conditions, this report indicates you could expect it to be under contract in an average of just under two months. You could also expect a buyer to ask for an average of just under 1.5% of the sales price in closing cost help.
The next Braemar Townhouse Report will be out in May and will detail sales from March and April. Until then, if you are interested in selling your Braemar townhouse, call me for a free market analysis of your specific home’s value. I’ve been a Braemar home owner and full-time Bristow Real Estate Agent since 2005. In 2007 I added the distinction of being a Short Sale Agent to my resume. No matter what your equity I can help you get your Braemar home sold quickly and for the maximum amount of money. And remember, no one knows Braemar better!
Chris Ann Cleland, Associate Broker-Licensed in VA, Long & Foster REALTORS®
Statistics compiled by Chris Ann Cleland, using the MRIS (Metropolitan Regional Information Systems.)