Braemar Condo Quarterly: April-June 2019 (2nd Quarter)
Having been out and about with Bristow buyers for the last week, I can sincerely say that sitting inside and type a market report at my desk, enjoying the air conditioning, is a real treat. It has been down right swampy feeling around here lately. If you do happen to be out, I hope you are at least enjoying our Braemar pools.
The second quarter of 2019 is most certainly behind us, making it time for another Braemar Condo Quarterly report. This particular edition is looking back to the sales of condos in Braemar between the months of April and June. During that time period, there were six Braemar condos that sold, ranging in price from $260,000 to $319,000. The details of those sales are listed below.
One detail that is not listed above is the fact that the lowest dollar value sale above at $260,000 was a bank owned property, more commonly known as a foreclosure. However, even with that one sale, it seems values of Braemar condos are up in the short term. Here’s a break out of six month average and median values compared to twelve month average and median values.
The six month average sold price is above its twelve month average counterpart, and the six month median sold price is above its twelve month median counterpart. This means that values of Braemar condos are going up!
Looking at the seller subsidy (closing cost assistance from seller to buyer) column, we see a downward trend in the short term. Both the six month average and median values in this category are below their twelve month counterparts. This means sellers are having to give less in closing cost help as our market has so many buyers competing for properties.
Finally, days on market seems fairly stable. The six month average is only three days longer than the twelve month average. The six month median is only one day longer than the twelve month median. And until we get one entire year’s worth of data with the new method of counting days on market, this comparison means little to nothing anyway. Our January 2020 report will be the first one with one year’s worth of days on market data from our new MLS.
The next Braemar Condo Quarterly will be out in October. Until then, when it is time to sell your Braemar condo, give me a call. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate