Braemar Piggyback & Patio Quarterly: July-September 2015
There is an excitement in the crisp fall air as we start to see Christmas decorations springing up around the neighborhood. Thanksgiving is this week and I feel completely unprepared, but that’s a good thing. It means I’ve been busy selling Braemar homes.
Right now, it’s time for the third quarter report for Braemar Piggyback and Patio homes. We will make comparisons looking back to last report (April-June 2015) and last year (July-September 2014.) For clarification, Braemar Piggyback Townhouses are attached side-to-side and back-to-back. While they do not offer back yards, they offer large bedrooms and a two car garage. Braemar Patio Homes are also known as quads. Each is attached at the side, back and corner to another Patio Home. They have two levels, also offering large bedrooms and a modest side yard.
There were three Braemar Piggyback townhouses that sold in the third quarter. That’s better than last report and even last year when we saw none. The high sold price was $299,000 and the low was $287,000. The average of all three gives us our new average market value for Braemar Piggyback townhomes of $293,667. The activity alone is enough to make me smile. We’ll have to wait for more sales, hopefully in the fourth quarter, to get a feel for the direction market values are heading.
If you did place your Braemar Piggyback townhouse on the market, priced to current conditions, this report indicates it would be under contract in an average of 52 days. You could also expect to give an average of about 1.5% of the sales price in closing cost help to the buyer.
We saw double the amount of sales activity in Braemar Patio homes this quarter, compared to Piggybacks. There were six sales between July and September. The high sold price was $319,000 and the low sold price was $255,899. The average of all six gives us our new average market value for Braemar Patio homes of $301, 717. This means our average market value for Braemar Patio homes has decreased by over 3.5% since last report and decreased by over 2.5% compared to last year.
If you placed you Patio home on the market, priced to current conditions, you could expect it to be under contract in an average of 28 days. You could also expect to give an average almost 1% of the sales price in closing cost help to the buyer.
The next Braemar Piggyback & Patio Quarterly will cover the fourth quarter of 2015 and will be out in January. Until then, when you are ready to sell your Braemar home, call me for a free market analysis. No One Knows Braemar Better!
Chris Ann Cleland, Associate Broker-Licensed in VA
Long & Foster REALTORS®, Manassas VA
Statistics compiled by Chris Ann Cleland, using the MRIS (Metropolitan Regional Information System.)