Braemar Condo Quarterly: October-December 2016
Happy New Year! As we begin 2017, naturally this Braemar Real Estate Agent is taking the time to look back at the end of 2016 and see how Braemar property values fared. Right now, I will take you through the fourth quarter sales of Braemar condos.
Unlike the third quarter of 2016, which saw only one Braemar condo sell, the fourth quarter had five sales! That’s pretty incredible. Even the fourth quarter of 2015 only had two sales. The low sales price of $237,500 was lower than we saw a year ago, but the high sales price was higher than what we saw last year. When it comes to the averages, the average sales price for the fourth quarter of 2016 was down a little over $4,000 since last year. All in all, Braemar condo sales prices have remained fairly stable for the last couple years.
If you placed your Braemar condo on the market, priced to current conditions, you could expect it to be under contract in an average of 25 days. That’s a longer than we have been seeing, but it is still not a long time to be on the market. You could also expect to pay an average of over 1.5% of the sales price in closing cost help for the buyer. That’s unchanged since last year.
The next Braemar Condo Quarterly, will be out in April and focus on the first quarter of 2017. Until then, when it is time for you to sell your Braemar condo, give me a call for a free market analysis Since 2005…No One Knows Braemar Better!
Chris Ann Cleland, Associate Broker-Licensed in VA
Long & Foster REALTORS®, Manassas VA
Statistics compiled using MRIS (Metropolitan Regional Information Services)