Braemar Townhouse Report: January-February 2014
Sounds like we might have one more brush with old man winter before we enter an uninterrupted spring. The sneak preview of spring in Braemar has been quite nice the past several days. Despite the miserably cold temperatures and snow storm after snow storm, Braemar buyers were out gobbling up townhouses in the neighborhood. The lucky Braemar sellers that took advantage of the winter market are glad they did. In this Braemar Townhouse Report, we’ll take a look back at the months of January and February and see what happened with Braemar townhouse values.
For starters, there were five townhouses that sold in Braemar during January and February. They all had attached garages. Maybe it’s coincidence, or maybe having a garage is more top of mind with buyers when they keep getting dumped on by snow storms. The sold prices ranged from $294,000 to $315,000. Their average gives us our new average market value for Braemar townhouses of $306,400. That’s just over a 15% increase since last report and a 24% increase since last year. More importantly, we have squarely gotten sold prices over the $300,000 mark, which seemed a ceiling for a long time. Only one sale in this report was below that $300,000 mark.
If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it be under contract in an average of about one month. You could also expect a buyer to ask for an average of 3/10th of 1% of the sales price in closing cost assistance. Closing cost assistance is no longer the norm. Only one seller out of five gave a buyer closing cost help. Competition is fierce and buyers are having to drop asking for closing cost help to get a home. This is definitely a seller’s market.
The next Braemar Townhouse Report will be out in May and will detail sales from the months of 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. I can help you get your Braemar home sold quickly and for the maximum amount of money. No One Knows Braemar Better!
And if you want to be a member of a neighborhood Facebook group that will always allow links to these reports, please join my new Braemar Facebook group. You can start any neighborhood conversation you like to there, be it promoting your own local business or just chatting about neighborhood events.
Chris Ann Cleland, Associate Broker-Licensed in VA
2013 Top Producing Agent & 2013 Top Selling Agent, Long & Foster REALTORS® Gainesville, VA
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)
NV Homes (single family homes built by NV Homes)
Ryan Homes (single family homes built by Ryan Homes)
Condo Quarterly (townhouse style condos)