Braemar Townhouse Report: March-April 2018
Before embarking on any Saturday fun, which this Top Braemar Real Estate Agent intends to have today, I’m putting out this last Braemar real estate market report. The Braemar Townhouse Report is always the last in the series of bi-monthly reports that I compile.
There were seven Braemar townhouses that sold during the months of March and April. The details of those sales are below:
When take these seven sales and place them in the rolling pool of Braemar townhouse sales for the past year, we get updated six and twelve month data points that look like this:
Seeing that the six month average and median sold prices are both higher than the twelve month average and median sold prices means that Braemar townhouse values are still pushing up. Meanwhile, seeing that the seller subsidy (closing cost assistance to buyers) in the six month values is lower than the seller subsidy in the twelve month values, shows that sellers, in this seller’s market, are able to negotiate deals with lower closing costs recently. That means Braemar townhouse sellers are netting more money from their sales. The marketing time, however, is the same in the median values in the short and long term, but the average marketing time in the last six months increased compared to that in the last twelve months. Three days is not an increase to even concern yourself about.
If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in one to three weeks. You could also expect to pay about one percent of the sales price in closing cost help.
The next Braemar Townhouse Report will be out in July. Until then, when you want to know what our current market conditions mean to your specific townhouse value, give me a call. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®