Braemar Patio Home Quarterly:  April-June 2017 (2nd Quarter)

Braemar Patio Home Quarterly:  April-June 2017 (2nd Quarter)

The three words dreaded in Bristow, VA during the summer months are hazy, hot and humid.  That’s our triple threat, making you want to explore indoor activities like cooking, watching TV, or surfing the Internet.  Today we are experiencing just the double threat of hot and humid.  That darn sunshine, combined with blue skies and white puffy clouds makes you want to wander outside and then BLAM!  You wonder why the heck you stepped outside to begin with.  It’s like a sauna.

As a result, I’m partaking of the indoor activity of putting Braemar market report together today.  Right now, we are going to look back to the second quarter and see what happened to Braemar Patio home values.  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 only one sale of a Braemar Patio home in the second quarter of 2017.  Details are below:

Taking that one sale and throwing it in to our rolling six and twelve month data points here is what we find.  

The more recent numbers (six month values) compared to the longer term numbers (twelve month values,) show that there is some conflicting information on whether sold prices are heading up or down.  The average sold price fell from the long term to short term.  However, the median sold price rose from the long term to the short term.  Only time will tell where we find a definite trend.  Two things that are consistent are that seller subsidy and marketing time are both shorter in both data points in the short term compared to the long term.

If you placed your Braemar Patio home on the market, priced to current conditions, you could expect it to be under contract in no more than two weeks.  You could also expect to pay $2,000 or a little more in closing cost help to the buyer.

The next Braemar Patio Home Quarterly will be out in October and will focus on what happened in the third quarter, and what that is doing to values.  If you want to know how this most recent sale affects your own Braemar Patio home’s value, call me at 703-402-0037.  Helping my Braemar neighbors is one of the things I love most about my job.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland

 Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA


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