Braemar Piggyback Quarterly: April-June 2020 (2nd Quarter)
Another day, another Braemar market report. Today’s report is the Braemar Piggyback Quarterly. This it the report that focuses on the two car garage townhouses that are not only attached on the sides, but also in the back. Hence the name Piggyback townhouse. They are the only two car garage townhouses in our neighborhood.
During the second quarter there were five Piggyback townhouses that sold. Sold prices ranged from $347,100 to $360,000. Details of those five sales are listed below.
Taking these second quarter sales and combining them with the previous three quarters worth of Piggyback townhouse sales, we get an entire year’s worth of data. The updated six and twelve month data points from that data pool are shown below.
Starting with the sold price column, we see both the six month average and six month median sold prices are above their respective twelve month values. This means Braemar Piggyback townhouses are still moving up in value.
The seller subsidy column is where we see how much closing cost assistance sellers have been giving buyers. Though only down by a little, both the six month seller subsidy values are lower than their twelve month counterparts. This means sellers have been giving a bit less in closing cost help overall.
Finally, when it comes to marketing time, we see that the six month average days on market is nearly a week shorter than the twelve month average days on market. And even though just by a day, the six month median days on market is shorter than the twelve month median. The pace of our market means quick sales for sellers with homes priced right and ready to move in.
If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it would be under contract in about two weeks. You could also expect to pay about 1.5% to 2% of the sales price in seller subsidy.
The next Braemar Piggyback Quarterly will be out in October. Until, if the time has come to sell your Braemar Piggyback townhouse, give me a call for a free market analysis. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate