Braemar Condo Quarterly: April-June 2016
The second quarter of the year tends to be where we see the action in Braemar condo sales. Let’s take a look back at the second quarter of 2016 and see how many sales of Braemar condos we had and what the means to our average value.
Before we begin, you may not realize that Braemar actually has condos. They look like townhouses. Condo simply refers to a type of ownerships which is different than any other type of home in the community. The sub-association that controls the Braemar condos is Barrhill at Inverness Village. If you live in that sub-association and pay dues to Barrhill, you own a condo.
Just like the second quarter of 2015, there were three sales of Braemar condos between April and June this year. And although there was only one sale in the first quarter of 2016, it was for the same sales price of $250,000 that we have seen for quite some time now. Well, that same sold price of $250,000 is exactly what two of the three sales for the second quarter of 2016 were. However, there was one that sold for $215,000. That brings the average sales price for the second quarter of 2016 to $238,333. That’s a decrease of average market value of over 4.5% since last report and last year. Not to worry. I’ve seen the condos that are currently under contract in Braemar. That low average won’t be with us long.
If you placed your Braemar condo on the market, priced to current conditions, you could expect it to be be under contract in a little less than two months. I think the third quarter report will see a decrease in that marketing time. You could also expect to pay an average of about 2.5% of the sales price in closing cost help to the buyer.
The next Braemar Condo Quarterly will be out in October and should have quite a few sales to report. Until then, when you are ready to sell your Braemar condo, give me a call for a free market analysis. No One Knows Braemar Better!
Chris Ann Cleland, Associate Broker-Licensed in VA
Long & Foster REALTORS®, Manassas VA