Braemar Property Value Report: July-August 2020 (Courtyard Series)
As September is drawing to a close, as with every other odd numbered month, I find myself pressed to get out the latest Braemar Property Value Reports. Whether you realize it or not, these are report compiled by me. I don’t get a computer to dump values into a spread sheet. Nope, I pull the sales, collect the data and prepare this reports for you. That’s one of the reasons I am a Top Braemar Agent.
Today’s report is for Courtyard homes and looks back on the sales activity for July and August. If you aren’t sure what a Braemar Courtyard home is, they are the single family homes located on Orland Stone, Pentland Hills and Playfair. Five homes share a courtyard driveway and have a strip of yard separating them from each other. I often refer to them as city homes or executive style homes, as they require the most minimal lawn maintenance and have very contemporary floor plans named the Arlington, Ballston and Clarendon. What they lack in lawn, they more than make up for in generous bedrooms sizes.
There were three Braemar Courytard homes that sold during our current report period. Final sold prices ranged from $450,000 to $495,000. The details of those sales are listed below:
Taking these three sales and combining them with the entire previous twelve months of Braemar Courtyard home sales our six and twelve month data points are updated as seen below:
Starting with the sold price column we see that there is a healthy increase in the six month average and six month median values compared to their respective twelve month values. This means Braemar Courtyard homes are increasing in value.
The seller subsidy column is where we get to see how much closing cost help Braemar Courtyard home owners have been giving in their transactions. Obviously, in the three sales listed above, only one home owner gave closing cost help. Looking at the six month average seller subsidy, it is slightly lower than the twelve month average seller subsidy. That could indicate that buyers are asking for less. However, the troubling stat is seeing that the six month median seller subsidy is $3,750 vs. zero in the twelve month median. That means more than half of Braemar Courtyard home sellers have given something in closing cost help in the more recent sales.
When it comes to days on market, it is not a surprise to see the six month average marketing time has decreased compared to the twelve month average. Meanwhile the six month median is still at four days, just like the twelve month median. This means that Braemar Courtyard homes are selling super fast.
If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in less than a week. You could also expect to pay about 1% of the sales price, or slightly less, in seller subsidy.
The next Braemar Property Value Report will be out in November. Until then, if you want to take advantage of our peaking market and these high sales prices, give me a call. Even in a seller’s market, professional marketing with an experienced agent is going to find you netting the absolute max the market will bear. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate