Braemar Property Value Report: January-February 2021 (Courtyard Series)

Braemar Property Value Report: January-February 2021 (Courtyard Series)

It is an eerily quiet, cloudy and still Friday midday in Braemar right now. While our weather may be calm, our real estate is the exact opposite. As we go through this latest edition of the Braemar Property Value Report, focused on the Courtyard Series, you will be able to see what high buyer demand and low inventory has meant to home values. (Note: 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.)

In our current reporting period of January and February 2021, there were two Braemar Courtyard homes that sold. The details of those sales are listed below.

For the first time in a very long time, we have a Braemar Courtyard home with a sold price beginning with a five. We have some time before we will hit the all time record of $560,000 for a four bedroom Arlington model set at the beginning of 2006, but if demand keeps up the way it has been lately, it wouldn’t surprise me if we get close to it by the end of the year.

Taking those two sales and combining them with the entire past twelve months of Courtyard home sales, our six and twelve month data points are updated as seen below.

Beginning with 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 values. This shows the continued upward push of Braemar Courtyard home values. It’s not as steep a climb as I have been noticing in other types of homes, but it is movement in a great direction if you have been thinking a home sale may be in your near future.

Seller subsidy denotes how much closing cost help sellers agreed to give buyers as part of their contract. The six month average and six month median are showing zero. The twelve month median being zero means that more than the half the Braemar Courtyard home sellers during that time frame gave no seller subsidy. The twelve month average being slightly over two-thousand dollars is a lot lower average for that time period than we have seen in reports past.

Days on market shows single digits down the line. The six month average marketing time actually increased by one day compared to the twelve month average. However, the six month and twelve month median values are identical at five days. Braemar Courtyard homes are selling quickly.

If you put your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in a week or less. You could also expect to be engaged by buyers willing to let go of seller subsidy requests just to get under contract. This competitive market has made closing cost help a luxury few get.

The next Braemar Property Value Report will be out in May. Until then, if you have been thinking of selling your Courtyard home, I would love to show you how I am able to elevate buyer enthusiasm for your home to get you even more money than you thought the market would allow. Get in touch with me for a free, no obligation consultation. Since 2005, No One Knows Braemar Better!

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

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s