Braemar Condo Quarterly: October-December 2017 (4th Quarter)
This New Year’s Day I decided to hit the ground running. Taking the Christmas tree down, and all the holiday decorations, can wait until later. Right now, it’s time for another Braemar Condo Quarterly report. This one will look back to the sales that happened in the fourth quarter of 2017.
As it turns out, there were three Braemar condo sales in the fourth quarter. They are detailed below.
If you’ve been following this report in the recent years, you know that Braemar condo sales don’t go much above $260,000. In fact, the average and median values have been lingering around $250,000 for literally years. It was great to see a two bedroom Braemar condo pull a $276,000 sold price. Even the other sales are a minimum of $260,00, which furthers my belief that off season selling is the way to go. We are blessed with year round demand in our area. Competing with everyone that wants to sell in the spring seems to bring prices down. The fall sold price are looking way better than what we saw earlier in the year.
When you look at the six month average and median sold prices, you can see that fall flurry of sales has brought a refreshingly higher round of sold prices, compared to the twelve month median and average sold prices. The seller subsidy (closing cost assistance to buyers,) ticked up in the shorter term values. The shorter term reveals that Braemar condo market times are under a week, both median and average values.
If you placed your Braemar condo on the market, you could expect it to be under contract in a week. You could also expect to pay about 2.5% of the sales price in closing cost help to the buyer.
If you’ve been thinking that 2018 may be the time to sell your Braemar condo, call me soon. Despite the frigid temperatures, Braemar buyers are out shopping now. If you wait until spring, you are quite likely to find yourself at a disadvantage, competing with more Braemar condos on the market.
Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®