Braemar Piggyback & Patio Quarterly: January-March 2014
In all the market reports I have prepared for Braemar since 2005, I realize that I have not focused on piggyback townhouses or patio homes. These are truly unique homes and definitely can not be compared to other townhouses in Braemar. When a buyer pictures a townhouse, they want a backyard. The piggyback townhouses do not offer a back yard at all. But they do offer a two car garage. The patio homes, meanwhile, offer a modest side yard but are only two levels.
For this very first Piggyback & Patio Quarterly, we will look at sales for each of these homes and see where their values are falling out.
In the first quarter of 2014, there was one piggyback townhouse that sold. It sold for $306,000, whihc was over its list price of $299,999. There will be a lot more information for the second quarter as there are currently two piggyback townhouses under contract, ranging in their list prices from $279,900 to $305,990.
If you placed your Braemar piggyback townhouse on the market, this report indicates it would be under contract in 3 days and you would pay an average of $1,900 in closing cost assistance to the buyer.
While I would love to bring news of patio home values in Braemar, there wasn’t even one that sold in the first quarter of 2014. Hopefully we’ll have something for the second quarter. When comps were pulled for this report, there were none on the market, but the spring market is just beginning.
The next Braemar Piggyback & Patio Quarterly will cover the second quarter of 2014 and will be out in July. Until then, if you are thinking of selling your Braemar home, call me for a free market analysis. No One Knows Braemar Better!
And if you haven’t already, please join my new Braemar Facebook group. You can find links to these reports and be involved in all kinds of neighborhood conversations.
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 other most recent quarterly property value report in Braemar by clicking the link below:
Condo Quarterly (townhouse style condos)