Braemar Property Value Report: March-April 2019 (Courtyard Series)
If you are a Courtyard home owner in Braemar and wondering what your property might be worth in the current market, this Braemar Property Value Report is for you. This particular edition breaks down sales of Braemar Courtyard homes during the months of March and April. Of course, if you don’t know what defines a Braemar Courtyard home, 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.
There were three Braemar Courtyard homes that sold between the beginning of March and end of April. Their final sold prices ranged from $430,000 to $441,000. The details of those sales are as follows:
When we take these three sales and combine them with the entirety of the last twelve month’s worth of Braemar Courtyard home sales, our updated six and twelve month data points are as follows:
Starting with the sold price column, it is good news to see both the six month average and median sold prices above their twelve month counterparts. That means that Braemar Courtyard homes have been gaining value in the last six months. And looking at the three most recent sales above, you can see they are all above the six month average and median sold prices. That indicates that the upward trend in Braemar Courtyard home values will continue.
Not all trends in this report are good news for sellers. In the seller subsidy column we see that both the six month average and median seller subsidy values are higher than their twelve month counterparts. This means in the last six months of sales, Braemar Courtyard buyers are getting more closing cost assistance.
Finally, we get to day on market. Please remember, our new MLS is calculating days on market differently than our previous MLS. The change over happened in November, so until we get to the November/December report this year, we won’t have an apples to apples comparison. Right now, it appears as though it is taking longer for Braemar Courtyard homes to sell when we see the six month marketing times being longer than the twelve month marketing times.
If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect to be under contract and well on your way to closing in five to seven weeks. You could also expect to give an average of 1.5% of the sales price in seller subsidy.
The next Braemar Property Value Report will be out in July. Until then, if the sale of your Courtyard home is on the horizon, give me a call for the most accurate market analysis. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate