Braemar Property Value Report: September-October 2021 (Courtyard Series)

Braemar Property Value Report: September-October 2021 (Courtyard Series)

Wind sure can make fifty degree weather feel colder than it may otherwise feel. I suppose the same is true for an all-out buyer frenzy making a seller’s market feel even more heated than a typical seller’s market may be. In this edition of the Braemar Property Value Report, focusing on sales of Courtyard homes in our neighborhood, we will take a look back at the months of September and October and see the state of our seller’s market. Before we go any further, if you don’t know what Braemar Courtyard homes are, 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 was only one Braemar Courtyard home that sold between the beginning of September and end of October. The details of that sale are listed below:

Immediately I see that this home sold barely above its list price. Unusual compared to last report when all four Courtyard home sales were significantly above list price. What is great to see is no seller subsidy (closing cost assistance) and single days on market for marketing time. When this sale is combined with the entire past twelve months of Braemar Courtyard home sales, the six and twelve month data points followed in this report are updated as seen below:

Starting with the sold price column we see increases in both six month values compared to their respective twelve month values. Braemar Courtyard homes have gained in value yet again. Looking back to last report, the six month average and median growth rate was the same at 2.4% each. This report, those six month growth rates have come down a bit. The six month average growth rate is now 1.7% and the six month median growth rate is 1.6%. Only time will tell if the growth rate continues to come down or go up.

The seller subsidy column shows nothing but zeros all the way down. In one year’s worth of Braemar Courtyard home sales, not one seller has had to give any closing cost assistance. In other reports for this same reporting period, I am starting to see seller subsidy requests coming back. Not in the Courtyard homes. We will see next report if it continues that way.

Days on market is as steady and fast as can be. The six and twelve month averages are the same at seven days. The six month median of six days is one day longer than the twelve month median. Braemar Courtyard homes are going underr contract fast.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in a week or so. You could also expect to give nothing in closing cost help while buyer demand is outpacing supply.

The next Braemar Property Value Report will be out in January. In the meantime, if the need arises to sell your Courtyard home, don’t panic. The year end sales market in Braemar is a powerful one. The emotions surrounding “home for the holidays” and lack of inventory make for some very motivated and serious buyers. Just remember that no matter the market, even a seller’s market, you can leave money on the table through lack of preparation and poor marketing. It is my pleasure to help my Braemar sellers max out their profit by putting my skill set to work for them. It’s all about creating buyer enthusiasm. My unparalleled neighborhood knowledge and professional marketing are always a recipe for success when selling in Braemar. Get in touch with me for a 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