Braemar Townhouse Report: May-June 2020
Bringing up the rear in the most recent batch of Braemar real estate market reports is the Braemar Townhouse Report. This particular report covers the most recent sales of traditional three level Braemar townhouses with back yards in the months of May and June.
Between May 1st and June 30th, there were eight Braemar townhouses that sold. Their final sold prices ranged from $300,000 to $374,000. The details of each one are listed below.
Taking the most recent sales above and combining them and with the entire past twelve months of Braemar townhouse sales, our six and twelve month data points are updated as seen below.
Starting with everyone’s favorite first stop, the sold price column, we see that both the six month average and six month median sold prices are higher than their respective twelve month sold prices. This means Braemar townhouses have continued to gain value.
The seller subsidy column is where we get to see, on average, how much closing cost assistance Braemar townhouse sellers have been giving to buyers. It is no surprise to see both the six month seller subsidy value points lower than their twelve month counterparts. In the current market, with such high demand and limited inventory, it is no surprise that closing cost requests by buyers are shrinking as they compete to have their offers accepted.
Finally, days on market reveals another trend consistent with a strong seller’s market. Both the six month average and median marketing times are shorter than their twelve month counterparts. Braemar townhouses are flying off the shelves.
If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in less than a week. You could also reasonably expect to pay 1% of the sales price or less in seller subsidy.
The next Braemar Townhouse Report will be out in September. Until then, if you want to take advantage of the record setting sales prices in our neighborhood, give me a call. My expertise is getting Braemar sellers top dollar for their home, no matter the market. Sadly, even in a seller’s market, poor preparation and poor marketing can have sellers leaving money on the table. That won’t happen with me. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate