Braemar Property Value Report: July-August 2019 (Courtyard Series)

Braemar Property Value Report: July-August 2019 (Courtyard Series)

Summer is behind us, which means we can take a look back at the Braemar Courtyard home sales for the months of July and August in this edition of the Braemar Property Value Report.  Before we get to it, 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 five Braemar Courtyard home sales in the last two months, ranging from $427,000 to $440,000 in final sold price.  The details of those sales are as follows:

Taking these most recent sales and combining them with the entire last twelve months worth of Braemar Courtyard home sales, we get updated six and twelve month data points, which are the indicators that tell us what is happening in the marketplace.  Here are the updated values:

Looking first at the sold price column, it is good to see the six month average sold price is higher than the twelve month average.  The six month median sold price is nearly the same as the twelve month median sold price, but still a tad higher.  Braemar Courtyard home prices are continuing to push up in value.

The seller subsidy column (closing cost assistance to buyers) is not changing much when comparing the six month values to their respective twelve month values.  And the changes do seem to indicate that buyers are requesting, and getting, ever so slightly more in closing cost help in the more recent past.

Finally we come to days on market, or as I like to call it–marketing time.  The six month median and twelve month median are exactly the same.  The better news is that the six month average marketing time is shorter than the the twelve month average marketing time.  This means Braemar Courtyard homes have been selling faster.

If you placed your Braemar Courytard home on the market, priced to current conditions,  you could expect to be under contract and well on you way to settlement in no more than two and a half weeks. You could also expect to pay a little more than 1.5% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in November. Until then, if you are thinking of selling next spring, why not give me a call and learn the benefits of our fall market.  There are plenty of reasons I call fall, our second spring market and I am happy to tell you all about them.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

 

 

 

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Braemar Property Value Report: July-August 2019 (Carriage Series)

Braemar Property Value Report: July-August 2019 (Carriage Series)

There is no question about it–fall is here.  Overcast, low temps and the hint that leaves are changing color.  With summer behind us, let’s take a look at the most recent Braemar home sales in the Carriage Series. If you don’t know what homes fall in the Carriages Series, they 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 Carriage homes that sold in July and August.  The details of all three sales are listed below:

Oddly, the lowest sold price at $376,000 was the largest home, but it was a home that had been vacant for over five years and finally sold as a foreclosure.  The sale highlighted in pink was my listing, and for a three bedroom Carriage home, it got a fantastic price.

Taking these recent sales and combining them with the last twelve months of Braemar Carriage home sales, the updated six and twelve month values give us insight as to market conditions.  Below are the updated values.

Looking first at sold prices, we see that both the six month average and median sold prices are above their respective twelve month sold prices.  This means Braemar Carriage homes are still pushing up in value.

Seller subsidy, also known as closing cost assistance to buyers, is going down.  The six month average is below the twelve month average.  And the scant amount we saw in the twelve month median is now zero in the six month median.  Buyers are minimizing their closing cost requests to get under contract in this seller’s market.

Days on market, which I call marketing time, shows that both six month values are lower than their twelve month counterparts.  This means Braemar Carriage homes are selling faster.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement, in about two weeks.  You could also expect to pay less than 1% of the sales price in closing cost assistance.

The next Braemar Property Value Report will be out in November.  Until then, if you have been considering the sale of your Braemar Carriage home, don’t under estimate our fall market.  There are still serious buyers out there and very little competition.  Give me a call to learn all about the advantages of our fall market.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

Another Braemar Patio Home Sold by Chris Ann Cleland

Another Braemar Patio Home Sold by Chris Ann Cleland

In early July, I met with the owner of 12849 Rannoch Forest about placing his Braemar patio home on the market.  Initially, the comparable sales were pointing to a list price of $350,000.  However, after seeing a patio home hit the market on July 12th for $364,999 with one less bedroom and full bathroom, my seller and I re-evaluated his list price prior to hitting the market on July 20th.  We decided that, while the finishes in the competitor for $364,999 were a little higher end, having the fourth bedroom and third full bathroom on the main level, it would be fair to price at $360,000.

Needless to say, on July 31st, after having many interested buyers through, one finally put pen to paper and wrote an offer.  A full price offer with closing cost help, but closing cost help was par for the course, according to the comps.

After an uneventful home inspection and appraisal, the home was on the rails to settle on September 13th.  It closed today for $360,000.  Meanwhile, our competitor at $364,999 is STILL on the market, but under a new MLS number and with an INCREASED list price of $369,900.  My listing took 11 days to go under contract.  The competitor is logging 59 days of marketing time as of today.  What kind of results do you want when it’s time to sell?

When you are ready to sell your Braemar Patio home, or any Braemar home, give me a call.  I won’t let you leave a penny on the table and won’t let you overprice your home so you linger in a seller’s market.  I’ll bring all of my marketing skills and contract negotiation skills to get your deal done and for top dollar.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

Braemar Property Value Report: July-August 2019 (Arista Series)

Braemar Property Value Report: July-August 2019 (Arista Series)

School is back is session and the fall season is upon us.  Time to reflect on the last two months of our Braemar summer real estate market and see what happened with Braemar Arista Series home values.  In case you are not familiar with the the name, Arista Series homes are among the largest homes in Braemar, built by Brookfield Homes.  The Arista Series homes are one of three floor plans:  Arista, Buckingham and Canterbury.

There was only one Braemar Arista home that sold during the months of July and August.  As it turns out, I was the Buyer’s Agent on this deal.  That’s why it is highlighted in blue text.  Details of the sale are listed below:

Even though this was only sale, when combined with the entirety of the last twelve months of Arista home sales, the six and twelve month data points are updated.  That gives us a chance to see trends happening in the short term to the long term.  The latest six and twelve month average and median values are below:

Starting with the sold price column, we see that the six month average is slightly above the twelve month average.  Slightly above is still above and heading in the right direction for Braemar Arista home owners to gain more equity in our rising market.  The six month median is well above the twelve month median, a much more visible indicator that property values are moving up for Arista home owners.

Seller subsidy (closing cost assistance to buyers) is notably higher in both six month value points compared to the their twelve month counterparts.  Seems Braemar buyers in this price range are starting to request more closing cost help…and they are getting it.

Days on market has come down in both the six month average and median values compared to the twelve month average and median values.  This means Braemar homes in this higher price range are selling a little faster than they had been.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement within about five weeks.  You could also expect to pay a little less than 1.5% of the sales price, on average, in closing cost help to your buyer.

The next Braemar Property Value Report will be out in November.  Until then, feel free to reach out and learn about the benefits of our year end selling season if you are considering a sale in the next six or eight months.   Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com