Braemar Property Value Report: September-October 2020 (Carriage Series)

Braemar Property Value Report: September-October 2020 (Carriage Series)

As I stood in my living room yesterday afternoon, making a new spot for our Christmas tree, I couldn’t help but feel odd about the passage of time this year. During the spring, when we were under shelter-in-place orders by the Governor, time seemed to pass so slowly. Lately, it has been zipping past. Obviously, as a Top Bristow Real Estate Agent, the passage of time to me is often tied to how busy I am. In the spring things were a bit quiet, but folks were still selling and buying. Lately, the Bristow real estate market has been a break neck pace. And there’s been so little inventory if you reference a property by street name, odds are another full-time agent in the market will know exactly which home you are talking about and have at least one buyer in mind for it.

Today I bring you the most recent Braemar Property Value Report for Carriage homes in Braemar, looking back to the months of September and October. Braemar Carriage homes are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale. And this time of year, it is worth mentioning, they remind me very much of a home you would see in a Christmas tree village scene.

During the last two months, there were five Braemar Carriage homes that sold. Their final sold prices ranged from $445,000 to $506,000. Details of all five sales are listed below:

Just looking at this list of homes sold, I know I showed three of these properties and wrote three offers for different buyers on them. Seems that no matter how many homes are selling, our market needs more. Taking these five sales and combining them with the entire past twelve month of Carriage home sales, the six and twelve month data points are updated to give us a refreshed picture of what’s happening in the market.

First stop is the sold price column. Here we see what I would expect to see–both the six month average and six month median sold prices are higher than their respective twelve month values. This means Braemar Carriage homes are still gaining value, and in healthy strides.

Seller subsidy is where we get to learn how much closing cost help sellers agreed to give buyers in their transactions. While four of the five most recent sales gave nothing, only one sale gave a small credit, which I suspect was negotiated for inspection repairs. As a result of sales like the most recent ones, the six month average seller subsidy has significantly decreased compared to the twelve month average. Meanwhile, both the six and twelve month median seller subsidy values remain at zero, which means more than half of sellers in both of those periods gave nothing in closing cost help. Again, not surprising given the intense buyer demand and lack of inventory. Buyers are having to foot their own bill to purchase in this market.

Last up is the days on market column, or marketing time, as I like to call it. The six month average marketing time was two days faster than the twelve month average marketing time. Meanwhile, the six and twelve month median are the same at five days.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in less than a week, maybe a week and a half. You could also reasonably expect to give no closing cost help.

The next Braemar Property Value Report will be out in January, at which point we will be able to see how Braemar Carriage home values did at the close of the year. I expect nothing but good news on that front. In the meantime, if a Braemar home sale is looming on the horizon, you may want to investigate our year end market, rather than waiting for spring. It is a powerful time of year to sell with a lot less competition than spring usually brings. Get in touch with me to find out what listing sooner might mean to your bottom line. Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 
Associate Broker, Licensed in VA
Long & Foster Real Estate
703-402-0037, ChrisAnn@LNF.com
www.SellingBraemar.com
www.UncompromisingValues.com
www.ChrisAnnCleland.com

Braemar Property Value Report: July-August 2020 (Carriage Series)

Braemar Property Value Report: July-August 2020 (Carriage Series)

 

It won’t be long before we see a brilliant display of fall foliage and I am looking forward to it.  This summer has been one of the most hectic I have ever experienced as a Bristow Real Estate Agent.  And unfortunately for buyers, I don’t think the fall market is going to ease up the demand or lack of supply.

Right now it is time for another Braemar Property Value Report, featuring sales of Carriage Homes in our neighborhood for the months July and August.  Braemar Carriage homes are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

There were three Braemar Carriage homes that sold during the months of July and August.  Details of those sales are listed below:

Taking these three sales and combining them with the rolling twelve months of previous Carriage home sales in Braemar, our six and twelve month data points are updated as reflected below:

Starting with the most important column to Braemar Carriage home owners, the sold price column, we see that both the six month average and six month median sold prices are well above the twelve month average and median sold prices.  This means that Braemar Carriage homes are continuing to increase in value.  Not surprising.  Out of the two homes that sold in in July and August, I had two buyers that competed in multiple offer scenarios, making healthy offers, and lost.  That kind of competition is what is driving these values up.

In the seller subsidy column we get to see how much closing cost help sellers are agreeing to give buyers.  The six month average seller subsidy has shrunk by more than half of the twelve month average seller subsidy.  Mean, the six month median seller subsidy has zeroed out compared to the $5,000 twelve month median seller subsidy.  And even looking at the details of the current reporting period’s sales we see that not one Braemar Carriage home seller had to give any seller subsidy.  In those intense multiple offer scenarios, closing cost help is an ask that buyers are learning to forego.

Finally, when it comes to days on market, I am bit surprised to see that the six month average marketing time was two days longer than the twelve month average marketing time.  Clearly not a value in the most recent sales throwing that number off, but good to know that even in the seller’s market we have been experiencing for many months now, you can over price a home or have it presented poorly to the market and linger while others are snatched up immediately.  Meanwhile, the six month median marketing time is half of what it was in the twelve month median.  That is more what I would expect to see.

If you placed your Braemar Carriage 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 that you would not have to give anything in seller subsidy.

The next Braemar Property Value Report will be out in November.  Until then, if you are interested in selling your home while values are reaching their peak, give me a call for the most accurate market analysis and top notch marketing that has not slacked at all during these seller conditions.  I understand that the better the first impression, the more money you will make in your home sale.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

Braemar Property Value Report: May-June 2020 (Carriage Series)

Braemar Property Value Report: May-June 2020 (Carriage Series)

The heat wave Bristow is experiencing is brutal.  Temps over one-hundred and high humidity makes for a trying outside experience.  Add a mandatory face mask and take away the community pool and you have a miserable summer experience.  Here’s to better days ahead.  Currently I am enjoying a day off from showing property to my buyer clients.  They are tired of the heat and exhausted from the insane level of competition for any listing worth buying.  It’s simply not sustainable and creating a bubble that has to burst.  First time buyers are struggling to buy homes.

As I enjoy my air conditioned office, allow me to bring you the most recent Braemar Property Value Report.  This one features sales of homes for the months of May and June for the Carriage Series.  Braemar Carriage homes are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

There were four sales of Braemar Carriage homes during our current reporting period. The details of those sales are listed below.

Taking these four sales and combining them the entire previous twelve months worth of Braemar Carriage home sales, we get updated six and twelve month data points that are pictured below.

Starting in the sold price column, it is no surprise to see both the six month average and six month median sold prices higher than their respective twelve month values.  As stated in the opening remarks of this property value report, our market has insane buyer demand. Values are continuing to increase.  Where’s the peak?  We have to be getting close, but no one knows.  We;ll only know we’ve peaked when we see values falling off.

Next up, the seller subsidy column.  This is where we learn how much closing cost help buyers are getting in their Braemar Carriage home purchases.  Again, it is no surprise to see that the six month average and median seller subsidy values are below their twelve month counterparts.  As you can see in the detailed sales above our data points, some sellers aren’t having to give any seller subsidy.

Finally, days on market shows a bit of a surprise as far as I’m concerned.  Both the six month values show slightly higher marketing times than their respective twelve month values.  Apparently, two of the most recent sales took a bit of time to get under contract.  Two of them were under contract in five days.  The latter is more like it in the current market conditions.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in a little over two weeks, if not sooner.  To be blunt, if your Braemar Carriage home is taking longer than a week to go under contract right now, you are over priced for the condition and/or presentation of your home.  You could also expect to pay an average of about 1% of the sale price in seller subsidy.

The next Braemar Property Value Report will be out in September.  Until then, if you want to take advantage of our record high prices and market demand, give me a call for the most accurate evaluation of your home’s value.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

 

 

Braemar Property Value Report: March-April 2020 (Carriage Series)

Braemar Property Value Report: March-April 2020 (Carriage Series)

Even though shelter-in-place is still in effect and our daily lives are off kilter from what they had been prior to the pandemic, the Braemar real estate market doesn’t seem to be feeling any ill effects.  Today we will look at what is happening with respect to Braemar Carriage home values in this edition of the Braemar Property Value Report.  Of course, if you don’t know what a Braemar Carriage home is, they are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

There were two Braemar Carriage homes that sold during our current reporting period of March and April 2020.  The details of those sales are listed below:

Taking these two sales and combining them the entire past twelve months of Braemar Carriage home sales, our six and twelve month data points are updated as follows:

Looking first at the sold price column, we see great news in the fact that both the six month average and six month median values are higher than their respective twelve month values.  This means Braemar Carriage homes are continuing to gain value.  And given the most recent sales of some of the smaller Braemar Carriage homes above, we see those are even higher!  I suspect Braemar Carriage homes will continue to increase in value in the near future.

When it comes to seller subsidy (closing cost help from sellers to buyers,) we see that those values have increased in the six month values compared to the twelve month values.  This means that Braemar Carriage home buyers have been asking for, and receiving more closing cost in the more recent past.  However, this trend may reverse based on what we see in the two most recent sales above.  One of those gave no closing cost help at all, the other only gave $5,000.  If that is something we see in future sales, seller subsidy will decrease in the shorter term.

Finally, looking at marketing time, we see very slight increases in both the six month average and median values over their twelve month counterparts.  One of our more recent sales detailed above shows a higher marketing time, however.  Will be interesting to see which way this trend goes in future reports.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in two to three weeks.  You could also expect to pay about 1.5% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in July.  Until then, know that real estate is considered an essential business in our state.  If the need arises to sell your home during the pandemic, I can help you sell your home safely and for top dollar.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

 

 

Braemar Property Value Report: January-February 2020 (Carriage Series)

Braemar Property Value Report: January-February 2020 (Carriage Series)

Come rain, sleet, snow or quarantine for a virus epidemic, this Top Braemar Real Estate Agent is here to bring you the latest information on our neighborhood real estate market in my Braemar Property Value Reports.  Today’s report focuses on Carriage homes  which are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

Looking back to the first two months of the year, there were two Braemar Carriage homes that sold.  Both were Oakdale models and there wasn’t much of a difference in their final sold prices.  Details of both sales are listed below:

Taking the most recent sales data and adding it to the last twelve months of Carriage home sales in Braemar, our six and twelve month data points are updated.  This is where we get a glimpse at what changes are happening in our market.

Looking first at the sold price column, it is great need to see both the six month average and six month median sold prices above their twelve month counterparts.  That means that Braemar Carriage homes have continued to rise in value.  With the demand that our market is still experiencing, I suspect this won’t be the last tick up in value.  The virus epidemic may impact our demand a bit, but I think the worst we will see in the short term is a leveling off of values.

The seller subsidy column reveals a trend that is definite, but certainly not one that favors would-be Braemar Carriage home sellers.  Both the six month average and six month median seller subsidy is higher than their respective twelve month values.  This means Braemar Carriage home sellers are giving more closing cost help to their buyers.

Days on market gives us conflicting information.  The six month average marketing time is three days shorter than the twelve month average marketing time.  Meanwhile, the six month median marketing time is two days longer than the twelve month marketing time.  Neither is a big change, so it seems that the marketing time of a Braemar Carriage home is holding steady.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in about two weeks.  Is that true during the time of quarantine?  Time will tell.  There is still massive buyer demand in our market thanks to the expansion of Micron in Manassas.  As for seller subsidy, you could expect to give nearly 2% of the sales price in closing cost help to your buyer.

The next Braemar Property Value Report will be out in May.  Hopefully, our daily lives will be back to normal by then, or at least nearing normal.  The important thing is to try to protect our communities by remaining distanced until this virus gets under control.  In the meantime, if you have any questions about our real estate market, or what a sale might look like for you in the near future, don’t hesitate to reach out.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

Braemar Property Value Report: November-December 2019 (Carriage Series)

Braemar Property Value Report: November-December 2019 (Carriage Series)

Winter was definitely feeling a bit too mild there at the turn of the New Year.  With today’s wintery mix, Mother Nature sends us a reminder of what she can throw our way.  I’ll be staying inside the comfort of my own Braemar home today and sharing with you the latest Braemar Property Value Report for the Carriage Series homes in our neighborhood.  For those unfamiliar, Carriages homes are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

There were two Braemar Carriage homes that sold during the last two months of 2019, and I am very pleased to have represented the sellers of one of those sales, 13236 Daldownie Court.  That’s the reason that sale is highlighted in pink, in the details of those two sales below.

Taking these two most recent sales and combining with all the Carriage home sales from 2019, we get updated six and twelve month data points that clue us in as to what is happening in our marketplace.

Let’s start by looking at the sold price column.  Here we see that the six month average sold price is slightly lower than the twelve month average sold price.  Meanwhile, the six month median sold price is higher than the twelve month median sold price.  At worst, Braemar Carriage home values are stable, but just the knowledge I have from dealing with the sale of 13236 Daldownie, they seem to be increasing in value.

Next up we see that the seller subsidy figures (closing cost assistance to buyers) is higher in both the six month average and median compared their twelve month counterparts.  This means Braemar buyers have been asking for, and receiving, more closing cost help in recent sales.

Finally, days on market shows mixed data.  The six month average marketing time is five days shorter than the twelve month average marketing time.  Meanwhile, the six month median marketing time is three days longer the twelve month median marketing time.  These aren’t big changes either way, so for now we can call marketing time stable.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in about two weeks time.  (Of course, if you hire me to be your Listing Agent, you may be under contract in a lot less time, judging by the three day marketing time achieved on 13236 Daldownie.)  As for seller subsidy, you could expect to pay about 1.5% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in March and show us how we started 2020.  Until then, if you have been thinking that the 2020 spring market may be the time for you to sell your Braemar Carriage home, don’t wait for Mother Nature’s version of spring.  The Braemar spring real estate market comes to life a lot earlier than the flowers, trees and grass.  Give me a call to find out how to maximize your profit when you sell.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

Just in Time for the Holidays, Another Braemar Carriage Home Sold

Just in Time for the Holidays, Another Braemar Carriage Home Sold

One one month ago today I listed 13236 Daldownie Court, a three bedroom Norwood model Carriage home for $429,000.  It didn’t take long for the buyers in the marketplace to respond.  The sellers had two offers within two days on the market.  Year end demand is not unusual in our Braemar real estate market.

After an uneventful home inspection and appraisal, the only issues left to resolve for the buyers were HOA covenant violations.  Yes, complying with HOA violations is a necessary thing for sellers in any HOA community.  And even though there the sellers didn’t technically violate any covenants, the bookkeeping with the on-site community management is far from the greatest.  These sellers were violated for a retractable awning that the Braemar Community Association said there was no need to apply for, back in the day,  as long as it matched the exterior trim or siding.  The other violation was having flagstone pavers put in by the builder.

What a reasonable person sees as logical, and can prove, is tossed aside by the covenants administrators.  They like applications on file.  So the sellers filled out an application for both and were in compliance.  A grand waste of time, but I did advise the buyer’s agent that the new owner should hold onto the HOA abatement letter stating the items were in compliance.  Heaven knows they will get violated again when it is their turn to sell.

Today, December 6th (2019) this Braemar Carriage home sold for $430,000.  The buyers were fortunate to get some closing cost help, but less than half of what they had requested.  That’s what happens when lack of inventory puts buyers in competitive situations.  Closing cost help requests are negotiated down, or aren’t even made.

If you have been considering the sale of your Braemar home, don’t think there is only one season that will bear out a favorable sales price.  I sell Braemar homes for top dollar all year long.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

Braemar Property Value Report: September-October 2019 (Carriage Series)

Braemar Property Value Report: September-October 2019 (Carriage Series)

There is something so beautiful about the the fall and winter sun. The sunbeams streaming through my windows in the morning this time of year seem so much more substantial. That is all due to the sun hanging lower on the horizon.   Of course, the low position of the sun in the sky can be very dangerous for those heading west in their afternoon commutes.  Where there is a plus, there is a minus.  It’s the same in real estate, which is ultimately what I’m here to talk to you about.

This is the Braemar Property Value Report for Carriage homes in our neighborhood.  In this particular edition we get a chance to see what happened in September and October and how that is shaping the over all Carriage home real estate market trends  If you don’t know what homes fall in the Carriages Series, they are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

In our current reporting period, there were six Braemar Carriage homes that sold.  When you get a look at the details of those sales below, you will see a very tight grouping of sold prices.  Not unusual since all but one of these homes were three bedroom Norwood models.  Only one four bedroom Parkdale (the largest of the Carriage homes) is in this list.  Unfortunately, either its condition or the the location directly backing to the two power transmission lines did not even get its final sold price higher than the smaller Carriage homes that sold around the same time.

Combining all six of these sales with the rolling twelve months of past Carriage home sales our six and twelve month data points are updated.  This is where we get a sense of our trends.

Looking first to the sold price column, we see that both the six month average and median sold prices are higher than their twelve month respective values.  This means Braemar Carriage homes are continuing to push up in value.

Next we turn our attention to seller subsidy (a.k.a. closing cost help to buyers.) Here we see another seller favored trend.  The seller subsidy in the more recent values, six month average and median, are less than the twelve month counterparts.  Buyers in the Braemar Carriage home market are facing more competition, which means they have to lean out their requests to get under contract with sellers.

Last, but not least, we get to days on market.  This is an important value because when you put your Braemar Carriage home on the market, you want to know how long it is going to take to sell.   Looking at the six month average and median marketing times we see that they are both shorter than their respective twelve month data marketing times.  Braemar Carriage homes are selling faster!  Even my most recent listing of 13236 Daldownie Court , listing in November, received two offers in two days!

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it be under contract in less than two weeks…or sooner.  You could also expect to pay about 1% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in January.  Until then, I wish you every happiness this holiday season.  As always, if the need arises to sell your Braemar home, no matter the season, give me a call for the absolute best results.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

 

 

Under Contract Before I Could Tell You It Had Just Listed

Under Contract Before I Could Tell You It Had Just Listed

On November 6th (2019) I activated the MLS listing for 13236 Daldownie Court When I met the sellers of this Norwood model Braemar Carriage home I could not have been more excited.  First of all, I love selling homes during our year end market.  Often times sellers don’t believe exactly how strong the year end market can be.  As I have stated over and over again, home buying is an emotional process and being “home for the holidays” is most certainly a real thing.  Secondly,the curb appeal of the Carriage homes on Iona Sound Drive pulled me into buying in Braemar.  It is a vivid memory, my husband and I driving around the neighborhood, looking at holiday lights and just falling in love with the neighborhood.  Braemar Carriage homes could not be more charming if they tried, but add a dusting of snow and some holiday lights and they look like model homes you would see under a Christmas tree.

As a Norwood model priced at $429,000, this home was sure to get attention right out of the gate.  Taking a quick look at the surrounding Bristow market and what was available in a single family home with three bedrooms for this price, well, the closest competition was a one car garage home in Kingsbrooke.  With the detached two car garage and three parking space wide driveway, this home already had a leg up on that home.

Of course, it had the three bedrooms and two and a half bathrooms on the upper level, one each making up the master suite.  And it had finished recreation space in the basement.  While it didn’t have fancy finishes in the kitchen, it did have a main level mud room, which I wish I saw more often in Norwood models.  I also boasted a cul-de-sac lot backing to a berm with an attractive tree line.  Stand on the deck, complete with a retractable awning, overlooking a white picket fenced yard and it was hard to imagine a scenario where this home didn’t get someone’s attention.

Out of the barrage of showings the first day, we received an offer.  While reviewing that offer on the 7th, there was a showing happening that resulted in yet another offer on the 8th!  Multiple offers in November?  Yes!  There are buyers out there right now looking for homes like this three bedroom Carriage home.

In only two days and this home was under contract.  It will closing in December, so stay tuned for final details.  In the meantime, if you or someone you know has been considering the sale of their Braemar Carriage home, give me a call and learn the strength of professional marketing coupled with our year end market.  There is still time to hit the “home for the holidays” mindset.

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

 

Since 2005, No One Knows Braemar Better!

 

Braemar Property Value Report: July-August 2019 (Carriage Series)

Braemar Property Value Report: July-August 2019 (Carriage Series)

There is no question about it–fall is here.  Overcast, low temps and the hint that leaves are changing color.  With summer behind us, let’s take a look at the most recent Braemar home sales in the Carriage Series. If you don’t know what homes fall in the Carriages Series, they are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

There were three Carriage homes that sold in July and August.  The details of all three sales are listed below:

Oddly, the lowest sold price at $376,000 was the largest home, but it was a home that had been vacant for over five years and finally sold as a foreclosure.  The sale highlighted in pink was my listing, and for a three bedroom Carriage home, it got a fantastic price.

Taking these recent sales and combining them with the last twelve months of Braemar Carriage home sales, the updated six and twelve month values give us insight as to market conditions.  Below are the updated values.

Looking first at sold prices, we see that both the six month average and median sold prices are above their respective twelve month sold prices.  This means Braemar Carriage homes are still pushing up in value.

Seller subsidy, also known as closing cost assistance to buyers, is going down.  The six month average is below the twelve month average.  And the scant amount we saw in the twelve month median is now zero in the six month median.  Buyers are minimizing their closing cost requests to get under contract in this seller’s market.

Days on market, which I call marketing time, shows that both six month values are lower than their twelve month counterparts.  This means Braemar Carriage homes are selling faster.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement, in about two weeks.  You could also expect to pay less than 1% of the sales price in closing cost assistance.

The next Braemar Property Value Report will be out in November.  Until then, if you have been considering the sale of your Braemar Carriage home, don’t under estimate our fall market.  There are still serious buyers out there and very little competition.  Give me a call to learn all about the advantages of our fall market.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster Real Estate

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com