Braemar Condo Quarterly: April-June 2014
The second quarter of 2014 is behind us and we can now take a look back and see what happened with Braemar condo values. The first quarter left us with a value of $240,000 from one sale. The second quarter of 20013 left us an average value of $227,750. So where do we stand right now?
At the close of the second quarter, there were two active Braemar condo listings. One was priced at $245,000 and the other at $254,800. Since neither one had been chosen by a buyer, even at the time of this report, who knows what’s going to happen there. We’ll have to wait for the third quarter report to see what shakes out with sales prices on these.
The second quarter saw, again, only one Braemar condo make it to settlement. It sold for $250,000, which will use as our average market value. That would mean a 4% increase in average market value since the first quarter and nearly a 10% increase in average values since the second quarter last year.
If you placed your Braemar condo on the market, priced to current conditions, this report indicates you could have it under contract in 18 days. The active listings, however, have an average as of this report of 40 days, and the numbers are still going up. It shows the importance of pricing right from the beginning to sell. You could also expect to contribute nearly 3% of the sales price in closing cost help to the buyer.
The next Braemar Condo Quarterly will cover the third quarter of 2014 and will be out in October. Until then, if you are thinking of selling your Braemar condo, 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 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)
Braemar Townhouse Report (traditional townhouses with back yards)
Piggyback & Patio Quarterly (back to back townhouses and quad homes)