Braemar Property Value Report: January-February 2016 (Carriage Series)
Mother Nature appeared to be bowling over our empty garbage cans with her wind gusts down the streets of Braemar on this first day of spring. Nothing like a scheduled trash pick up to get those winds fired up. I will tell you something that fires me up is Braemar Carriage homes. In this edition of the Braemar Property Value Report we are going to see what happened with Carriage home values during the first two months of the year. For those that may not know what I am talking about, Carriage homes are characterized by the lack of an attached garage. Rather, if they have a garage at all, it is detached and sits in back of the home. The floor plans, from smallest to largest, are: Maplewood, Norwood, Oakdale and Parkdale.
There was only one sale of a Braemar Carriage home in the opening two months of 2016. It was a three bedroom Oakdale model with a finished basement and two car garage. It listed for $387,500 and sold for $385,000. That sold price becomes our placeholder for average market value of Braemar Carriage homes. Compared to last report that marks an increase in average market value of over 2.5%. Compared to last year, it is a 2% increase.
If you placed your Braemar Carriage home on the market, priced to current conditions, this one sale indicates that you could expect it to be under contract in 132 days. Personally, I don’t think that’s what the average Braemar Carriage home would find in terms of marketing time. My Braemar real estate gut tells me a max of three weeks. This sale also sets an expectation of paying nearly 1.5% of the sales price in closing cost help to the buyer. That is more in line with reality than the marketing time.
The next Braemar Property Value Report will be out in late May and will detail sales from March and April. Until then, when you are ready to sell your Braemar Carriage home, give me a call for a free market analysis. I’ve been a Braemar home owner and full-time Bristow Real Estate Agent since 2005. Getting your Braemar home sold for the maximum amount of money in the shortest period of time is what I do. No One Knows Braemar Better!
Chris Ann Cleland, Associate Broker-Licensed in VA
Long & Foster REALTORS®, Manassas VA
Statistics compiled using the MRIS (Metropolitan Regional Information Systems.)