Braemar Property Value Report: September-October 2018 (Courtyard Series)
A rainy Saturday, post Thanksgiving family gatherings, is a great opportunity for me to get another Braemar Property Value Report together for my fellow Braemarians. Today’s report focuses on Courtyard home sales in September and October. If you aren’t familiar with Braemar Courtyard homes, they are one of three different floor plans that share a private courtyard driveway and have limited outdoor space. Models include the Arlington, Ballston and Clarendon.
As is sometimes the case, as Braemar Courtyard homes only number 142 homes in the entire Braemar community of over 2,800 homes, there were no sales in our current reporting period. That doesn’t mean that we don’t have updated data. Because I keep a rolling store of twelve months of data, I simply dropped the sales from last September and October and updated our six and twelve month data points. Here’s what we find:
The six month average sold price has dipped below the twelve month average sold price. That’s not great to see, but the six month median sold price is above the twelve month median sold price. Hard to see a trend with contradictory information, so we’ll have to wait for more Braemar Courtyard homes to sell in our next report to see which way we are going. For now, I would call this stable values.
The six and twelve month seller subsidy (closing cost assistance to buyers) is much lower in the six month average and median values compared to the twelve month counterparts. That’s a great trend if you are Braemar Courtyard home owner. Not so great if you are a prospective Braemar buyer.
When it comes to days on market, again we see data favoring Braemar Courtyard home owners. The six month average and median days on market is lower than the twelve month average and median values. That would indicate Braemar Courtyard homes have been selling faster in the last six months.
If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in a little over a week to two and a half weeks. You could also expect to chip in a small amount of money to the buyer in seller subsidy.
The next Braemar Property Value Report will be out in January. I know we will have some Braemar Courtyard home sales to share. Until then, if you find yourself considering the sale of your Braemar Courtyard home, give me a call to find the benefits often overlooked in our year end market. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®