Braemar Piggyback Quarterly: October-December 2017 (4th Quarter)
The New Year is off to a great start. Better still, the end of 2017 was nothing to sneeze at when it comes to the Braemar real estate market. Right now, it is time for another Braemar Piggyback Quarterly. To begin, let’s define a Braemar Piggyback home. These townhouses are not only attached on the sides, but along the back too. They have no back yards, like traditional townhouses. They also have two car garages.
There were three Braemar Piggyback townhouses that sold in the fourth quarter of 2017. The sales are detailed below:
When you take these sales from the fourth quarter and throw them into our rolling six and twelve month values, we find that values are fairly steady. The six month average sold price is higher than the twelve month average, but the twelve month median is a tad lower than the twelve month median. This is stability. It is also seen in the seller subsidy and DOM (days on market.)
If you were to put your Braemar Piggyback townhouse on the market, you could expect it to be under contract in about a month. You could also expect to give about $2,000 in closing cost help to your buyer, maybe a bit more.
The next Braemar Piggyback Quarterly will be out in April. Until then, give me a call if you want to know the value of your own Braemar Piggyback townhouse. Since 2005, No One Knows Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®