Braemar Property Value Report: September-October 2019 (Carriage Series)
There is something so beautiful about the the fall and winter sun. The sunbeams streaming through my windows in the morning this time of year seem so much more substantial. That is all due to the sun hanging lower on the horizon. Of course, the low position of the sun in the sky can be very dangerous for those heading west in their afternoon commutes. Where there is a plus, there is a minus. It’s the same in real estate, which is ultimately what I’m here to talk to you about.
This is the Braemar Property Value Report for Carriage homes in our neighborhood. In this particular edition we get a chance to see what happened in September and October and how that is shaping the over all Carriage home real estate market trends 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.
In our current reporting period, there were six Braemar Carriage homes that sold. When you get a look at the details of those sales below, you will see a very tight grouping of sold prices. Not unusual since all but one of these homes were three bedroom Norwood models. Only one four bedroom Parkdale (the largest of the Carriage homes) is in this list. Unfortunately, either its condition or the the location directly backing to the two power transmission lines did not even get its final sold price higher than the smaller Carriage homes that sold around the same time.
Combining all six of these sales with the rolling twelve months of past Carriage home sales our six and twelve month data points are updated. This is where we get a sense of our trends.
Looking first to the sold price column, we see that both the six month average and median sold prices are higher than their twelve month respective values. This means Braemar Carriage homes are continuing to push up in value.
Next we turn our attention to seller subsidy (a.k.a. closing cost help to buyers.) Here we see another seller favored trend. The seller subsidy in the more recent values, six month average and median, are less than the twelve month counterparts. Buyers in the Braemar Carriage home market are facing more competition, which means they have to lean out their requests to get under contract with sellers.
Last, but not least, we get to days on market. This is an important value because when you put your Braemar Carriage home on the market, you want to know how long it is going to take to sell. Looking at the six month average and median marketing times we see that they are both shorter than their respective twelve month data marketing times. Braemar Carriage homes are selling faster! Even my most recent listing of 13236 Daldownie Court , listing in November, received two offers in two days!
If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it be under contract in less than two weeks…or sooner. You could also expect to pay about 1% of the sales price in seller subsidy.
The next Braemar Property Value Report will be out in January. Until then, I wish you every happiness this holiday season. As always, if the need arises to sell your Braemar home, no matter the season, give me a call for the absolute best results. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate