Braemar Reflection Quarterly: January-March 2018 (1st Quarter)
It’s a good feeling of accomplishment to be typing up the last of my Braemar Quarterly market reports before we are more than a third of the way through the second quarter. This last report for the first quarter of 2018 is focused on sales of the Reflection Series homes in Braemar. These homes are located on Tarvie Circle and are single family properties attached to another home at the rear load garage only.
In the first three months of the year, there was only one Braemar Reflection home that sold. The details are listed below.
Being a four finished level home, selling at $465,000, this sale is probably the highest I’ve seen on Tarvie Circle in a long time. When we take this sale and combine it with the other Reflection home sales from the second, third and fourth quarters last year, we have a full year’s worth of data. Parsing that data into six and twelve month values gives us a very good feel for what’s happening with Braemar Reflection home values.
The six month average and median sold prices are the same as the twelve month average and median sold prices. That’s partially because we only had three sales for the entire year’s worth of data and two for the six month figures. The differences are noticed in the increase in average and median seller subsidy in the short-term, compared to the longer term. And in the longer marketing time in the short-term.
If you placed your Braemar Reflection home on the market, priced to current conditions, you could expect it to be under contract in about six months. Honestly, given our lack of inventory compared to increased buyer demand so far this year, it would likely be faster. You could also expect to pay about 1.5% of the sales price in seller subsidy (closing cost assistance.)
The next Braemar Reflection Quarterly will be out in July . Until then, if you want to know how much your specific home is worth in today’s Braemar marketplace, give me a call. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®