Braemar Townhouse Report: July-August 2020
It it time for another Braemar Townhouse Report, featuring sales of traditional three level townhouses with back yards in our neigbhorhood. This particular report looks back to the months of July & August. During that time, there were nine Braemar townhouses that sold. Their final sold prices ranged from $330,000 to $385,000. Details of each sale are listed below:
Taking these nine sales and combining them with the past entire twelve months of Braemar townhouse sales, the updated six and twelve month value points are updated as pictured below:
Starting with the sold price column, both the six month average and six month median sold prices are above their respective twelve month values. This means Braemar townhouse values are continuing to rise. No surprise in this intense seller’s market.
The seller subsidy column is where we find out how much closing cost help Braemar townhouse sellers are giving in their transactions. For starters, it is great to see that the six month average seller subsidy is less than the twelve month average seller subsidy. Sellers have been giving less closing cost help on average in the most recent sales. Even better, the six month median seller is at zero, compared to the $2,500 value found in the twelve month median. In the most recent sales, more than than half of Braemar sellers have given no closing cost help.
Finally we get to the days on market column. Here we see slightly faster marketing times in the six month values compared to the already fast twelve month values. Again, no surprise when you see the intense demand and lack of inventory in our market.
If you placed your Braemar townhouse on the market, priced to current conditions, you could expect to be under contract in a week or less. If you had to give closing cost help, you could reasonably expect it would be a modest amount. Better yet, you may have to give none.
The next Bramear Townhouse Report will be out in November. Until then, if you find yourself needing to move up into a larger home, or relocate, know that our year end market is going to be extremely busy this year. Better yet, we will have very little competition. Give me a call to investigate what a year end sale would mean for you. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate