Braemar Townhouse Report: July-August 2018
Putting together these Braemar real estate market reports is something I have been doing since 2005. My intention is always to get them ready for the previous two months, as soon as the second of those months has ended. Realistically, that means waiting until the middle of the month following the last month of the reporting period. In this case, mid-September is when I started gathering data for this particular report. Unfortunately, not every agent that lists and sells a home in Braemar works the same. Some agents won’t invest in professional photography. Others won’t meet appraisers at their Braemar listings to make sure the home appraises for sales price and you won’t have to lower your price. And yes, some wait weeks to report when a sale closes. The latter impacts me and my ability to report the latest in Braemar sales. The other two, well, those impact seller’s final sold prices.
Bringing up the rear in the string of Braemar real estate reports is the Braemar Townhouse Report. This report focuses on the last two months of Braemar townhouse sales. And a Braemar townhouse, for the purposes of this report, is three level, attached structure with a fence-able backyard. In other words, a traditional townhouse.
There were sixteen Braemar townhouses that sold during the months of July and August. The low sold price was $285,000 and the high sold price was $370,000. The details of these sales are listed below:
When we take these sixteen sales and replace the sales from July and August 2017 in our rolling twelve month pile of data regarding Braemar townhouses, here is what we find/:
The six month average and median sold prices are well above the twelve month average and median sold prices. That means Braemar townhouse values are continuing to increase. I’m just as happy to report to that the six month average and median seller subsidy (closing cost help from sellers to buyers) is lower when compared to their twelve month counterparts. That means Braemar townhouse sellers are having to give less in closing cost help. Finally, the six month average and median days on market (marketing time) is lower when compared to the twelve month average and median. Braemar townhouses have been selling even faster lately!
If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in a week or so. You would also expect to give about 1% of the sales price in closing cost help to the buyer.
The next Braemar Townhouse Report will be out in November and will detail sales from September and October. Until then, when you are ready to sell your Braemar townhouse, please know that this Top Braemar Listing Agent hires professional photographers, does light staging, meets appraisers at your property and much more to get you the most you can when selling your largest asset. You only get one shot at selling your home. There are no do-overs. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®