Braemar Patio Quarterly: January-March 2021 (1st Quarter)

Braemar Patio Quarterly: January-March 2021 (1st Quarter)

What a strange weather day Bristow experienced today. The wind gusts were down right troubling at points in the late afternoon, but now the sunshine is breaking through.

The Braemar real estate market has been experiencing gusts of its own. Today I spent time with two buyers, trying to get them under contract on listings. You have to be there the day a home hits the market with loads of cash in hand and no contingencies in your offer. At least, that’s what I’m seeing.

In the latest Braemar Patio Quarterly, focusing on the first quarter of 2021, we take a look back and see what happened in the Braemar Patio home market. Patio homes are also known as quad style townhouses, attached on the side and back. They have single car garages, two levels, HUGE bedrooms and loads of storage space for an attached home.

In the first quarter, there were two Braemar Patio homes that sold. The details of those sales are listed below:

The first thing you may notice about these two sales is the big difference in final sold price between the two Patio homes. One was a four bedroom, three and a half bathroom Patio home. The other a two bedroom, one and a half Patio home. There is a major functional difference in these homes, especially considering the main level bedroom and bathroom of the four bedroom Patio home.

Taking these two Braemar Patio home sales and combining them with the previous three quarters of Patio home sales, our six and twelve month data points are updated as follows:

Starting with the sold price column, we see both the six month average and six month median have substantially increased compared to their respective twelve month values. This means that Braemar Patio homes are continuing to increase in price.

Seller subsidy is where we learn how much closing cost help buyers were able to negotiate from Braemar Patio home sellers. Both six month values are at zero. Only the twelve month average seller subsidy has a value that isn’t zero, coming in at $389. Clearly, in order to be competitive in this seller’s market, buyers are having to ask less of sellers in hopes of getting under contract.

Days on market, down the line, is five days. Braemar Patio homes have been selling quickly for the past year.

If you placed your Braemar Patio 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 nothing in closing cost help.

The next Braemar Patio Quarterly will be out in July. Until then, if you have been considering the sale of your Braemar home, get in touch with to learn how being well prepared and professionally marketed matters even in a seller’s market. Since 2005, No One Knows Braemar Bettter!

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

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