Braemar Patio Quarterly: July-September 2019 (3rd Quarter)
The overnight temperatures in Braemar are dropping as we get into late October. Brrr. We got very close to freezing temperatures last night, yet our day time temps will be in the mid-sixties. That’s a big swing. Thank goodness we aren’t seeing swings like that in our Braemar real estate market. Yes, it is time for another Braemar Patio Quarterly Report, detailing sales of the two-level, one car garage, quad style townhouses in our neighborhood. Let’s get right to it.
During the third quarter of 2019, there were three Braemar Patio homes that sold. I am pleased to have represented one of those sellers. In the details of those sales below, my listing is highlighted in pink.
Taking these third quarter sales and combining them with the previous three quarters worth of sales, we get updated six and twelve month data points. Let’s see what they can tell us about our Braemar Patio home market.
Starting with the sold price column, we see that the six month average sold price is well above the twelve month average sold price. That alone would indicate a very healthy increase in values. However, the six month median sold price is exactly the same as the twelve month median sold prices. This indicates stability. From where I stand, I see these homes are still pushing up in value, even though it may not be by leaps and bounds.
Seller subsidy, also known as closing cost assistance to buyers, shows a definite trend. Both the six month average and median seller subsidy values are well above their twelve month average and median comparisons. Buyers are asking for, and getting more, closing cost help.
Days on market shows another clear trend. Both the six month average and median marketing times are shorter than their respective twelve month average and median values. This means Braemar Patio homes have been going under contract in less time.
If you placed your Braemar Patio home on the market, priced to current conditions, you could expect it to be under contract in two to three weeks. You could also expect to pay 1.5% to 2.5% of the sales price in closing cost help.
The next Braemar Patio Quarterly will be out in January. Until then, if selling your Braemar home is on the horizon, give me a call for the most accurate assessment of your home’s value. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate