Braemar Townhouse Report: November-December 2019
Bringing up the rear in latest editions of Braemar market reports is this Braemar Townhouse Report. This particular report looks back to sales of traditional townhouses in Braemar during the months of November and December 2019. Let’s get right to it.
There were six Braemar townhouses that sold during the last two months of 2019. Their sold prices ranged from $315,000 to $385,000. The details of each sale are listed below.
Combining all six of these sales with the entire year’s worth of Braemar townhouse sales from 2019, our six and twelve month data points are updated as follows:
Looking first at the sold price column, we see that the six month average is only fifteen dollars less than the twelve month average. That would indicate stability in Braemar townhouse prices. However, looking at the six month median sold price being three thousand higher than the twelve month median, we are left with information that Braemar townhouses are continuing to push up in value. Having recently listed a Braemar townhouse, I can tell you that demand is there to keep prices going up. We’ll see what our next report shows us.
Next up is the seller subsidy column. Seller subsidy is also known as closing cost help to buyers. Both the six month average and six month median seller subsidy values are above their respective twelve month values. This means, in the more recent sales, Braemar townhouse buyers are asking for, and receiving, increasing amounts of closing cost help.
The last column is days on market, or as I like to call it, marketing time. Here we see that marketing time has ticked up in the six month values compared to their twelve month counterparts. I call tell you from recent listing experience, Braemar townhouses are in high demand. I expect to see this number fall in our next report or two.
If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in no more than two to three weeks. You could also expect to pay about 1.5% of the sales price in closing cost help.
The next Braemar Townhouse Report will be out in March. Until then, if you have been waiting for the spring 2020 market to list, spring has already sprung. Demand is there, but your competitors are not. Now is the time to get going. Give me a call and let’s talk price, timing and marketing to get you the absolute most the market will bear. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate