Braemar Patio Home Quarterly: January-March 2017 (1st Quarter)
Another rainy day in Braemar. That means no walk for me today, but I must hand it to the gal I saw braving this afternoon’s heavier downpour, jogging along Tartan Hills Parkway. That is dedication. While I may not have that dedication to exercise, I definitely have it when it comes to keeping Braemar property owners apprised of their home values. This particular first quarter report focuses on values of Braemar Patio homes. Braemar Patio Homes are known to some as quads. Each is attached at the side, back and corner to another Patio Home. They have two levels, offering large bedrooms and a modest side yard.
There was one Braemar Patio home that sold in the first quarter. It was located at 12873 Rannoch Forest Circle and was a four bedroom model, one being a main level bedroom. It listed for $274,900 and sold for $262,900. It was noted as needing extensive work, but only took four days to go under contract. Clearly, a home in need of extensive work is not going to be typical of most Braemar Patio home prices. So let’s just take a look at how our six month and twelve month values compare.
The six month average and median sold price values are the same because there were only two sales from October 2016-March 2017. That includes the distressed property that sold in the first quarter. So the $281,450 value in those fields is expected to be low. Therefore, if I were sitting down with a Braemar Patio home owner and trying to figure out value of a move-in ready home I would probably rely more heavily on the twelve month values. The average sold price over twelve months was $297,878 and the median sold price in the same time period was $302,000.
The best news is that by next report, we should have a higher sale to throw in to offset that distressed property. There is currently a Braemar Patio home that was listed for $319,900 when it went under contract, and is due to settle May 8th.
If you placed your Braemar Patio home on the market, priced to current conditions, you would probably be looking at being on the market for about two weeks before going under contract. You could also expect to give an average of about $4,000-$5,000 in closing cost help.
The next Braemar Patio Home Quarterly will be out in July. Until then, when you are ready to sell your Braemar home, call me and put my twelve years of neighborhood expertise to work for you. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®, Manassas VA