Braemar Property Value Report: July-August 2017 (Courtyard Series)
While the fall solstice may not be until September twenty-second this year, it
certainly felt like fall as soon as we entered September. The chill in the air reminds me of back to school time, even decades after graduating high school. Even driving to a listing appointment this afternoon I noticed some early autumn leaves blowing around. You may think fall is a slow time of year for Bristow real estate, but I’m here to tell you it is what I call our “second spring.”
Right now, we are going to look back at the last two months of summer in this Braemar Property Value Report. Specifically, we’ll be focusing on what happened in the Courtyard homes in Braemar. Courtyard homes are one of three different floor plans that share a private courtyard driveway and have limited outdoor space. Models include the Arlington, Clarendon and Ballston.
During the months of July and August, there was only one Courtyard home in Braemar that sold. Details of that sale are as follows:
When you take this sale and add to the running six and twelve data for Braemar Courtyard homes, the first thing you notice is that this sale is higher than the six month average and median sold prices. That is great! And with six month sold data being higher than the twelve month sold data, it means the value of Braemar Courtyard homes is pushing up. You also notice in the six month values that marketing time is significantly reduced when compared to the twelve month values. Another value that is down in the short term is seller subsidy (closing cost assistance to buyers.) This is all great news for the Braemar Couryard home market.
If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in less than a week if demand holds up. You could also expect that buyers may need, or want, a little bit of closing cost help. As evidenced by the sale in August, you can build that seller subsidy in the sales price.
The next Braemar Property Value Report will be out in November. Until then, if you want to know how current market conditions have affected your Braemar home’s value, give me at a call at 703-402-0037. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®, Manassas VA