Braemar Property Value Report: January-February 2017 (Carriage Series)
A rainy day in Bristow is a great time to sit down in front of my computer and tell
you all about the Braemar real estate market. It is Braemar Property Value Report time, after all. And in this report, we are going to focus on sales in the first two months of the year in the Carriage Series. Braemar Carriage homes are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home. The floor plans, from smallest to largest, are: Maplewood, Norwood, Oakdale and Parkdale.
The last report, which covered the last two months of 2016, displayed a rare occurrence where absolutely no Braemar Carriage homes sold. This reporting period we had one sale. It was a five bedroom Parkdale model with three finished levels that listed and sold for $424,500. It was under contract in only eight days and the sellers gave $4,000 in closing cost help. So how does that compare with what’s been happening in the Braemar Carriage home market? Well, the sales price of $424,500 is higher than all six month and twelve month average and median prices.
Just comparing the six month average and median sales prices with the twelve month average and median prices, we see that values for Braemar Carriage homes are trending up. That’s a very good thing. At the same time, the six month numbers for closing cost assistance are lower than the twelve month numbers. Another good indicator.
If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in seven to twenty-two days time. Probably on the lower side if we continue to have this shortage of homes for sale and high buyer demand. You could also expect that a buyer will request some closing cost help. In the ball park of $4,000 seems to be the most likely case.
The next Braemar Property Value Report will be out in May and will cover the months of March and April. In the meantime, when you are ready for a more specific analysis of your home’s worth in the market, give me a call. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®, Manassas VA