Braemar Property Value Report: July-August 2016 (Courtyard Series)
The fall real estate market is here in Braemar. Unfortunately, it will be a couple of months before we know how much real estate is selling this fall. Right now, in this edition of the Braemar Property Value Report, we are going to look back at the last two months of summer and focus on the Courtyard homes sold. Before we begin, let’s explain what sets Braemar Courtyard homes apart. Braemar Courtyard homes are one of three different floor plans that share a private courtyard driveway and have very limited outdoor spaces. Models include the Arlington, Clarendon and Ballston.
There were two Braemar Courtyard homes that sold between July and August. One was a Clarendon, the other a Ballston. The high sold price was $400,000. The low sold price was $380,000. The average of both gives us our new average market value for a Braemar Courtyard home of $390,000. Since last report, that is a 1/2% decrease in average value. The good news is that compared to last year, it is an increase of nearly 5.5% in average value.
If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in an average of about a week and a half. You could also expect a buyer to request an average of 1.5% of the sales price in closing cost help.
The next Braemar Property Value Report will be out in November and will detail sales from July and August. Until then, when you are ready to sell your Braemar home, 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
Statistics compiled by Chris Ann Cleland, using the MRIS (Metropolitan Regional Information Systems.)