Braemar Piggyback Quarterly: July-September 2018 (3rd Quarter)
It is time for another Braemar Piggyback Quarterly, detailing sales of Braemar Piggyback townhouses in the third quarter of 2018. If you are wondering what a piggyback townhosue is, they are not only attached on the sides, but along the back too. They have no back yards, like traditional townhouses, but have larger bedrooms than a traditional townhouse. They also have two car garages.
There was one Piggyback townhouse that sold during the third quarter. Details are below:
That sale alone doesn’t tell us much. When we take this sale and put it in with the last year of Braemar Piggyback townhouse sales, we do get a chance to look at six and twelve month data points. Current trends are found in the six month data points compared to the twelve month data points. These are the current six and twelve month average and median values for Braemar Piggyback townhouses.
For starters, the most recent sale is well above the six month average and median sold prices. That’s great news. For trends, the six month average and median sold prices are higher than the twelve month average and median sold prices. That means values of Braemar Piggyback townhouse are still pushing up.
When it comes to seller subsidy (closing cost assistance to buyers) the six month average is about the same as the twelve month average. The six month median is a little lower than the twelve month median. Right now, it seems Braemar buyers are still expecting closing cost help. And the most recent sale would indicate it could be worse than the average or medians above.
The days on market (marketing time) has increased a little in the six month average compared to the twelve month average. However, there is a larger increase in the six month median compared to the twelve month median. Seems it is taking longer to sell Braemar Piggyback townhouses.
If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it to be under contract in about a month or a month and a half. You could also expect to pay about 1.5% of the sales price in closing cost help to the buyer.
The next Braemar Piggyback Quarterly will be out in January. Until then, don’t count our fall market. If you want to know what your home is worth right now, give me a call at 703-4002-0037. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®