Braemar Townhouse Report: January-February 2016
It is another gorgeous spring day in Braemar. We had a little early morning rain, but nothing substantial. Didn’t even need my rain jacket when showing homes bright and early this morning. This is the time of year when the real estate market begins a fever pitch. Real estate agents like myself strap in and know that we will be swept up in the spring activity.
Right now, let’s take a look back at what happened in the Braemar townhouse market during the first two months of the year, in this edition of the Braemar Townhouse Report.
Between January and February, there were five Braemar townhouses that sold. Their sold prices ranged from $240,000 to $316,000. The average of all five gives us our new average market value of Braemar townhouses–$281,180. That’s an increase of over 2% since last report and an increase in over 8.5% since last year. Great news for Braemar townhouse values!
Like we’ve seen for years, buyers of Braemar townhouses expect they will be able to get closing cost help from sellers. The average closing cost assistance this report is an average of 2% of the sales price. That is also reliable information.
What is less reliable is the average marketing time we see in this report, which is 114 days. Would it take 114 days for you to get your Braemar townhouse under contract if you put it on the market today? Probably not. The market is moving a lot faster now than it did at the end of 2015, which is when these homes were marketed.
The next Braemar Townhouse Report will be out in late May and will detail sales from March and April. In the meantime, when you are interested in selling your Braemar townhouse, call me for a free market analysis of your specific home’s value. 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.)