Braemar Reflection Quarterly: October-December 2017 (4th Quarter)
After a long day out of the house in this bone chilling wind, I decided to make myself a cup of hot chocolate (complete with marshmallows) before typing up today’s Braemar real estate market report. This report focuses on sales activity of the Reflection Series homes in Braemar in the fourth quarter of 2017. Before we get to it, let’s first define a Reflection Series home in Braemar. These are the homes located off of Tarvie Circle that are semi-detached homes. They attach to one other home only at the rear entry garage.
In the fourth quarter, there was only one sale of a Braemar Reflection home. Here are the details:
Because the Reflection homes make up such a small number of the overall Braemar real estate market, it is no surprise that only one sale was registered in the fourth quarter. Nor is it jaw dropping that only two Reflection homes sold in Braemar during all of 2017. So our six month rolling average and median values are only including the sale above. The twelve month rolling average and median values include both.
Being that only two sales are present in the entire year, when I look at these stats, I also take in mind what I see with the overall Braemar single family home real estate market. Home values are steady. Buyer demand is healthy.
If you placed your Braemar Reflection home on the market, priced to current conditions, this report indicates it may take nearly four month for you to sell your home. If that’s the case, you might have called the wrong real estate agent. These homes should be going under contract, when priced and marked properly, within a month or less. You could also expect to pay about 2% of the sales price in closing cost help to your buyer.
The next Braemar Reflection Quarterly will be out in April. Until then, stay warm and treat yourself to your favorite warm drink. And when the time comes to find out what the market will bear if you sold, give me a call. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®