Braemar Property Value Report: November-December 2020 (Courtyard Series)

Braemar Property Value Report: November-December 2020 (Courtyard Series)

Before leisure time begins for this Braemar Real Estate Agent today, I thought I would bring you another Braemar Property Value Report. This particular report focuses on the last two months sales of Braemar Courtyard homes. Braemar Courtyard homes 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.

During the months of November and December, there was only one Braemar Courtyard home that sold. Details of that sale are listed below:

It is often the case that there is only one sale, or no Braemar Courtyard home sale at all when this report is compiled every two months. That is why the current reporting period sale(s) are combined with the entire last twelve months of Courtyard home sales and six and twelve month data points extracted. Gives us a steadier look at trends. Doing that this report, here’s what we have:

The six month average sold price dropped slightly compared to its respective twelve month sold price. However, both the six month median and twelve month median remain the same at $495,000. Seems Braemar Courtyard homes are holding steady in value. Then again, a glance at the most recent sale indicates the values are likely going to be seen to be lifting in future reports.

When it comes to seller subsidy, we get to see how much closing cost help buyers negotiated with their Braemar Courtyard home sellers. The six month average is less than the twelve month average, meaning buyers were able to negotiate less in the more recent sales. What the six and twelve month median values tell us, both being at zero, is that more than half of Braemar Courtyard home sellers gave no closing cost help at all. That is something we are seeing a lot as buyers are having to forego closing cost help requests in multiple offer situations just to be competitive.

Days on market, down the entire column, shows single digit days. The six month average was two days faster than the twelve month average. The six month median was one day faster than the twelve month median. Braemar Courtyard homes are getting immediate attention from buyers struggling in this market with so little inventory to choose from.

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 give absolutely no seller subsidy.

The next Braemar Property Value Report will be out in March and show what the first two months of 2021 have meant to our Braemar home values. Until then, when the time comes for you to sell, I would love the opportunity to show you how my neighborhood expertise and professional marketing can put even more money in your pocket. You only get one shot at netting the most money. Who you hire matters. Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 
Associate Broker, Licensed in VA
Long & Foster Real Estate

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