Braemar Townhouse Report: May-June 2021
Last, but not least in the series of May-June Braemar market reports, I bring you the Braemar Townhouse Report. This report focuses on the sale of traditional three level townhouses in our neighborhood. Traditional townhouses are those with three levels with a back yard that are NOT condos.
During the months of May and June, there were sixteen townhouses in Braemar that sold. I was so very happy to represent the buyers of the one highlighted in blue. Details of all of the sales are listed below:
There is a wide variety in final sold prices because there is a variety in sizes and styles of traditional townhouses in Braemar. Of the larger one car garage townhouses, my buyers got a fantastic deal on Drum Salute. The home did not show well, but that was a plus for us. It only needed new flooring, some paint and a good cleaning. They were able to negotiate $8,000 in closing cost help to offset that cost, have a home inspection and still get a killer deal. If they turned around and sold the home after the improvements, they could actually make money.
Taking all of the sales listed above and combining them with the entire past year of Braemar townhouse sales, our six and twelve month data points show more seller favored trends.
Starting in the sold price column, it is no surprise to see the growth that happened in the six month average and median compared to the twelve month average and median values. Townhouses have been gaining value quickly in this market with little inventory and an overload of buyers.
Seller subsidy is where we find out what amount of closing cost help Braemar buyers were able to to negotiate from their townhouse sellers. My buyers and one other were the only ones in the sixteen recent sales that negotiated any closing cost help in May and June. Looking at the six and twelve month median, more than half of sellers in both time frames had to give nothing. The six month and twelve month averages show that seller subsidy is becoming more rare. It is highly unlikely to have a buyer request closing cost help if your home is properly prepared for market. Doing nothing in a seller’s market costs a seller.
Days on market shows the seller’s market in all its glory with single digits down the line. Braemar townhouses sell very quickly. Even in the sixteen most recent sales listed, only one took two weeks to go under contract.
If you placed your Braemar townhouse on the market, priced to current conditions, you could expect your townhouse to be under contract in a week or less. You could also expect, if you did the work to make your home shine, to give nothing in closing cost help.
The next Braemar Townhouse Report will be out in September. Until then, when you are ready to sell your Braemar townhouse, don’t fall victim to leaving money on the table. Get my expert advise on listing preparation and take full advantage of my professional marketing for the absolute max the market will bear for your home. You only get one chance to get the equity out in a sale. Who you hire matters. Since 2005, No One Knows Braemar Better!