Braemar Property Value Report: March-April 2019 (Carriage Series)
Here we are in the middle of May. School will be out before you know it. Summer vacations are on the horizon. And likely, there are some Braemar home sellers that will soon be hitting the market. While we can’t predict what the market holds, we can look to the most recent sales history and see what has been happening.
Right now, it is time for the Braemar Property Value Report detailing sales of Carriage homes between the months of March and April. 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.
There were three Braemar Carriage home that sold between March and April. Final sold prices ranged from $395,000 to $435,000. The details of those sales are listed below:
Refreshing the six and twelve month data points by including these most recent sales into the rolling year’s worth of Braemar Carriage home sales, here is what we find:
Let’s take a look at the sold prices. The six month average and median sold prices have fallen below the twelve month average and median sold prices. Our last few reports have had conflicting trends when comparing these six month values to their twelve month counterparts. One would indicate increasing values. The other would indicate a softening of values. While not a big difference, the fact that both six month values are below the twelve month values could be the beginning of softening Carriage home values. We’ll only know when we get a look at the next Carriage home report.
Another trend that does not favor Braemar Carriage home seller is that seller subsidy (closing cost help to buyers) is higher in both six month values over the twelve month values.
Days on market (marketing time) gives us a mixed bag and still having apples to oranges comparisons until we get to the fall with one year’s worth of days on market data from our new MLS, these numbers may not be entirely reliable. As they present, the six month average marketing time is longer than the twelve month average marketing time. Meanwhile, the six month median marketing time is shorter than the twelve month median marketing time. Rest assured, when it comes to figuring out long it will actually take to sell your Braemar Carriage home, I will calculate recent marketing times by hand during our listing appointment.
If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract, and well on the way to settlement, in three to eight weeks. You could also expect to pay about 1.5% of the sales price in closing cost help to the buyer.
The next Braemar Property Value Report will be out in July. Until then, let me know when you are getting ready to sell your Braemar Carriage home. Maximizing your profits is a job I do very well. It all comes from outstanding marketing, negotiating and unparalleled neighborhood market knowledge. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate