Braemar Property Value Report: September-October 2018 (Carriage Series)
Coming out of my turkey and gravy induced slumber from yesterday’s Thanksgiving feast, the last thing I want to do is wrestle with shoppers on Black Friday. No sir. I would make rather dive back into my routine as a Braemar Real Estate Agent. When you love what you do, it never feels like work. Today I will share you with you the latest Braemar Property Value Report for Carriage homes in our neighborhood. Braemar Carriage homes are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home. The floor plans, from smallest to largest, are: Maplewood, Norwood, Oakdale and Parkdale.
This particular reporting period covers the months of September and October, during which time we saw five sales of Braemar Carriage homes. The details of those sales are detailed below:
When we take the data from these sales and update our six and twelve month values for Braemar Carriage homes, this is what we get:
When looking at the six month average and median sold prices compared to the twelve month average and median sold prices, we see that Braemar Carriage homes are still inching up in value. That’s good to see. In fact, all but one of the sales from the current reporting period fall above the six month average and median values. All good indications.
When it comes to seller subsidy (closing cost assistance to buyers) the six month average and median compared to the twelve month values indicate that sellers have been giving less closing cost assistance. Again, looking to our current reporting period sales, that is echoed above. Three out of five sales gave zero seller subsidy.
Days on the market, or marketing time as I like to call it, is another story. The six month figures are higher than the twelve month, particularly when it comes to median days on market. Worse yet, the marketing time for the five sales in the current reporting period all took longer than the average and median values noted here. This is an indication that the buyer demand for Braemar Carriage homes is not as hot as it was. Values are holding their own and pushing up little by little, but it is taking longer for these homes to sell.
If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect your home to be under contract in at least a month. If you looked at the most recent sales, it may take even longer. You could also expect to pay about 1% or so of your sales price in closing cost help. Then again, you may luck out like the three of the last five sales have and give nothing.
The Braemar Property Value Report will be out in January. Until then, I wish you every happiness the holiday season has to offer. And if you find yourself facing an off spring market sale of your Braemar home, give me a call. I may be one of the only agents you will ever encounter in our market that can tell you about the secrets that make our year end market a strong one for sellers. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®