Braemar Property Value Report: July-August 2022 (Courtyard Series)

Braemar Property Value Report: July-August 2022 (Courtyard Series)

Gorgeous sunny fall days are here. It was a pleasure to help host our Long & Foster Grand Reopening in Gainesville yesterday. Today I am taking it easy and bringing you this latest Braemar Property Value Report for Courtyard homes in our neighborhood. If you are not familiar with what constitutes a Braemar Courtyard home, they are located on Orland Stone, Pentland Hills and Playfair.  Five detached 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. This particular report looks back to the last two months of summer.

During the months of July and August there was only one Braemar Courtyard home that sold. Details of that sale are listed below.

Fourteen days on the market seems like an eternity after seeing homes barely make it to three or four days on the market in the months and years before. It is also not what we are used to seeing when you notice the sold price is five thousand below its list price. Finally, three-hundred dollars in seller subsidy (closing cost help) is not something we are used to seeing. We have seen mostly zeros in that column for a long time now. Is the market changing? The only way to truly quantify that is to take this sale along with all the Braemar Courtyard home sales dating back to September 2021 and pull out fresh six and twelve month data points.

Starting with the sold price column, both the six month average and six month median sold prices are still higher than their respective twelve month values. This indicates we are still experiencing a seller favored market. It may not be with the same frenzy that buyers are acting, but there are certainly not enough homes to meet buyer demand.

Seller subsidy shows low numbers in both average values. The more important note is that the six and twelve month median values are still at zero. That means more than half of sellers in both time frames gave no closing cost help. If your home is properly priced, well prepared and professionally marketed, it does create buyer enthusiasm. That’s what can makes buyers want to act quickly and decisively to make a deal. This is how you avoid superfluous seller subsidy requests and buyers chopping your price in the offers they write.

Days on market shows not a lot of change since last report. Both six month values are still faster than their respective twelve month values. While buyers have been a little slower to act, there are still ways to entice them to act quickly. It all comes down to what you have to offer and how it is being presented.

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 two. You could also expect to give very little, if anything in seller subsidy if your home is one buyers don’t want to lose. It always comes down to proper pricing, being well prepared in terms of condition and professionally marketed.

The next Braemar Property Value Report will be out in November. Until then, it is never too early to have a chat about what listing preparation you might have in store to create buyer enthusiasm. Getting Braemar sellers the top of the market is one of my favorite accomplishments in my career as Top Producing Bristow Real Estate Agent. Get in touch for your complementary consultation. 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: May-June 2022 (Courtyard Series)

Braemar Property Value Report: May-June 2022 (Courtyard Series)

Welcome to another Braemar Property Value Report. This particular edition looks to the homes sold in the Courtyard Series in Braemar duing the months of May and June. Courtyard homes are located on Orland Stone, Pentland Hills and Playfair.  Five detached 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.

During our current reporting period there were three Braemar Courtyard homes that sold. Details of those sales are listed below.

At first glance I notice a few things. All but one sale sold above list price. All but one sale gave no seller subsidy (closing cost assistance to the buyer.) And all but one sale was under contract in a matter of days. The stand out in every instance was one property. Was there something significantly different about it? It was slightly outdated and sold two important appliances (microwave and dryer) as-is. They also offered that seller subsidy in the listing for a decorator credit. Not at all what I recommend to my sellers, but hey, they weren’t my sellers. You never know what buyer out there is going to love the home the way it is.

Taking these three sales and combining them with the Braemar Courtyard home sales going back to July 2021, our six and twelve month data points are updated. Here’s what we get:

Starting with the sold price column, the trend of increasing values stand right out. Both the six month sold prices are above their respective twelve month values. If there is a cooling off in the market, you wouldn’t know it by looking in this column.

Seller subsidy made a come back thanks to a seller generously offering seller subsidy. We will never know if they had to do that. Best I have to tell you is that more than half of Braemar Courtyard home sellers in both the six month and twelve month time frames gave nothing in seller subsidy. If you hire an agent that helps you build buyer enthusiasm through proper listing preparation and professional marketing and follows up with skill negotiation, odds are strong you wouldn’t have to give any either.

Days on market shows a decrease in marketing time. That’s more great news consistent with a seller’s market. Again, you wouldn’t know of any change in the market, despite talking heads all around talking about it, by looking at these numbers.

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. In July and August, the time may be longer. This is the time of year we see a disconnect between buyers and sellers. Sellers think it’s a great time to list when school is out. Buyers think it is the perfect time to take a break from the market and go on vacation. As mentioned above, if you had great representation, you could also expect to give nothing in closing cost help.

The next Braemar Property Value Report will be out in September. Until then, when it is time for you to sell, know that relying on market conditions or placing the primary hiring decision based on commission charged is no way to get the best outcome. Get proper listing preparation advice, professional marketing and skilled negotiation. Call for your complementary consultation. It’s my pleasure to get my Braemar sellers to the top of the 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
www.ChrisAnnCleland.com

Braemar Property Value Report: March-April 2022 (Courtyard Series)

Braemar Property Value Report: March-April 2022 (Courtyard Series)

Sunny spring days are something just about everyone can agree is a good thing. We have most definitely hit the spring season, but our sunny days may actually be outnumbered by overcast and rainy days lately. Perspective can mean a lot in how we process information. Those drawn to bad news will inevitably see the negative and vice versa.

With regard to the Braemar real estate market, this Braemar Property Value Report actually breaks it down into understand numbers. This edition focuses on the Courtyard homes in our neighborhood. Courtyard homes are located on Orland Stone, Pentland Hills and Playfair.  Five detached 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 were three Courtyard homes that sold in Braemar during the months of March and April. The details of those sales are listed below.

The low sold price at $583,000 is quite a ways off of the high sold price, repeated twice, at $630,000. Taking these sales and combining them with Braemar Courtyard home sales going back to May 2021 for one year’s worth of data, our six and twelve month market markers are updated and reflect the continuation of a seller’s favored market.

The six month average and median sold prices are most definitely higher than their respective twelve month values. This is the trend we have been seeing for a while now. As buyer demand has increased and inventory has not met the need, the market has driven up prices. Even in the face of rising interest rates, buyer demand remains strong.

Seller subsidy (closing cost help to buyers) is zero down the line. This means for at least one year, no Braemar Courtyard home seller has had to give any closing cost help. Multiple offer situations certainly help. Making sure your home is creating buyer enthusiasm helps with an increased price and not paying seller subsidy.

Days on market is the only place we may see the beginning of a shift. The six month average marketing time increased by four days. The six month median marketing time increased by only one day. Still, the most recent sales were under contract in single digit days. Only time will tell if this is a trend that will continue.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in less than two weeks. You could also expect to give nothing in seller subsidy. As mentioned above, the key to the highest price and best terms is very much dependent on how your home is prepared and marketed. Who you hire to sell your home matters.

The next Braemar Property Value Report will be out in July. Until then, if you would like to investigate the sale of your home, I would love the chance to show you what I do for my Braemar sellers that get them to the top of the market. Consultations are free and come with no obligation on yoru part. 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: January-February 2022 (Courtyard Series)

Braemar Property Value Report: January-February 2022 (Courtyard Series)

As we head into the weekend, I thought I would take the opportunity to drop another Braemar Property Value Report online for my fellow Braemarians. This particular report focuses on the Courtyard homes built by Brookfield Homes. Courtyard homes are located on Orland Stone, Pentland Hills and Playfair.  Five detached 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.

During the first two months of 2022 there was only one Braemar Courtyard home that sold. Details of that sale are listed below:

Going under contract in only three days and selling $45,000 above its list price, it is clear that the New Year started out with a buyer frenzy. If there had been more Courtyard homes on the market, the buyers in the marketplace would have gobbled them up. So far, the first quarter of 2022 has revealed what we saw in early 2021–way too many buyers for too few homes.

Taking the sale above and combining it with the entire past twelve months of Braemar Courtyard home sales, the six and twelve month data points are updated. Those actually show conflicting information that would be indicative of a shift in the seller favored market IF I didn’t have firsthand knowledge of what is happening in the market now.

Looking first at the sold price column, the six month average sold price being higher than the twelve month average sold price is the upward growth we see in a seller’s market. The six month median sold price falling below the twelve month median would be an early harbinger of a shifting market. But again, the most recent sale tells us otherwise.

Seller subsidy is where we learn how much closing cost help buyers were able to negotiate from their Braemar Courtyard home sellers. With zeros down the line, the answer is crystal clear. None!

Marketing time definitely shows a trend in the opposite direction we would expect. Both six month values are longer than their respective twelve month values. With only one sale from the first two months of 2022, I think the last four months of 2021 are skewing the data. I expect this will be less dramatic as those months fall off of the short term reporting.

If you placed your Braemar Courtyard home on the market, priced to current conditions, I do believe it would be under contract in less than one week, two at worst. And given that no Braemar Courtyard home seller has given closing cost assitance in twelve months worth of sales, I think it is safe to assume that trend will continue as the many buyers in the market fight over not enough homes to meet the demand.

The next Braemar Property Value Report will be out in May. Until then, if you want to talk over a possible sale in 2022, there is no time like the present to book a no obligation, confidential consultation with me. Even in a seller’s market, a super high sales price and great terms that favor you are not a guarantee. The seller’s market is what breeds lazy agents. You will never find that here. For goodness sake, I choose to hand produce these market reports. My listings get listing preparation advice, professional marketing and expert level negotations no matter the market. No corners are cut and that is what makes my sellers every dollar the market will bear. 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: November-December 2021 (Courtyard Series)

Braemar Property Value Report: November-December 2021 (Courtyard Series)

January is always filled with anticipation, particularly for those with plans to buy or sell in the New Year. Even in the midst of the 2021 holiday season, many asked what I thought the local real estate market had in store for 2022. In a recent online article, I did make some real estate market predictions for 2022. Obviously, the more local the information, the better. And since looking back, helps us see where we are headed, I make it my priority to keep my fellow Braemarians informed of our neighborhood real estate market through my Braemar Property Value Reports.

Today’s Braemar Property Value Report is focused on how Courytard homes fared last year. Braemar Courtyard homes are 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 were two Braemar Courtyard homes that sold in November and December. The details of those sales are listed below:

There are two indicators in the recent sales that our Braemar Courtyard sellers may be seeing a cooling of the seller’s market. The first is the fact that neither home sold above list price. This is something we saw more of as we moved through the second half of 2021. Sellers maintained the market advantage, but the all out buyer frenzy has calmed down. The second indicator of change is the increased marketing times for these sales. You might dismiss those time frames are being long because of the holiday season. I am here to tell you that Braemar homes of all sizes sell in November and December. In fact, I listed and sold a Braemar townhouse in those two months.

When the sales listed above are combined with all of the Braemar Courtyard home sales from 2021, the six and twelve month data points outlined in every Braemar Property Value Report are updated.

Starting with the sold price column, the good news is that both the six month average and median values are above their respective twelve month values. Braemar Courtyard homes are continuing to gain value. The growth rate is likely to slow down in 2022, but I don’t think we will be looking at losses anytime in the near future.

Seller subsidy is where we find out how much closing cost assistance buyers were able to negotiate from their Braemar Courtyard home sellers. Despite even higher days on market in recent sales, the answer is zero and remains zero in all the six and twelve month data points.

Overall, the longer marketing times seen in November and December have not yet impacted the six and twelve month numbers. They are largely the same. The real question will be how we get off the starting blocks in 2022. If Braemar Courtyard homes continue to take longer to sell, we will see overall increases in the six month average and median time frames.

If you placed your Braemar Courtyard home on the market, priced to current conditions, this report’s average and median values indicate that you would be under contract in two weeks or less. The most recent sales in November and December make me wonder if that time frame might be longer. As for seller subsidy, you could expect to pay out nothing. Finally, you should be prepared to see buyers with home inspection contingencies again. This started to go back to normal in the second half of 2021 when our buyer frenzy calmed.

The next Braemar Property Value Report will be out in March. Until then, if a move is in your future, don’t wait to get the conversation started. My unparalleled neighborhood knowledge and professional marketing create buyer enthusiasm for all my Braemar listings, making my Braemar sellers thrilled. Getting you absolute max profit from your largest invesment is a job I take very seriously. 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: 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
703-402-0037, ChrisAnn@LNF.com
www.SellingBraemar.com
www.UncompromisingValues.com
www.ChrisAnnCleland.com

Braemar Property Value Report: July-August 2021 (Courtyard Series)

Braemar Property Value Report: July-August 2021 (Courtyard Series)

This weekend marks the unofficial end of summer, which makes it a great time to share with you another Braemar Property Value Report (BPVR.) This particular report focuses on Courtyard homes in the neighborhood. 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.

This particular edition of the Courtyard Series BPVR will cover the last two months of summer, July and August. During that time there were four Courtyard homes that sold. That is a lot of Courtyard home sales for a two month period, as long-time BPVR followers know. Courtyard homes make up such a small percentage of homes in Braemar that is not unusual to have periods of one sale or none at all. The details of the Braemar Courtyard home sales from July and August are listed below:

Taking these sales with the entire past twelve months of Courtyard home sales in Braemar, the six and twelve month average and median data points we use to determine what is happening in the market are updated as follows:

Starting in the sold price column, we see higher values in the six month average and median than compared to their respective twelve month values. This means Braemar Courtyard homes are still increasing in value. While the rate of increase in average and median value last report was 3% and 5% respectively, it has slowed to 2.5% in average and median this report. Hey, an increase is an increase. And we all knew the ridiculous growth of the frenzied seller’s market was not/is not sustainable. Buyers taking time off of house hunting to vacation and more sellers coming to market simply made a less hectic seller’s market this summer. It is typical for our market to slow a bit from whatever pace it was keeping in spring when we hit summer.

Seller subsidy is where we find out how much closing cost help Braemar Courtyard home buyers were able to negotiate from their sellers. The answer across the board, or more acurately down the column, is zero. As buyers compete for fewer homes in a seller’s market, seller subsidy becomes a non-starter if a buyer wants to get under contract.

Marketing time shows exactly the same thing in the twelve month values as it does in the six month values. Braemar Courtyard homes continue to sell fast. The only recent Courtyard home breaking that norm is the one listed above on Playfair. It went under contract much later in the summer when things were slowing down.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect to be under contract in about a week. You could also expect to give nothing in seller subsidy.

The next Braemar Property Value Report will be out in November, where I suspect you will see proof of the strength of our fall market. If you want to find out more about what a year end sale during a seller’s market could mean for you, get in touch with me. 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: May-June 2021 (Courtyard Series)

Braemar Property Value Report: May-June 2021 (Courtyard Series)

Time for another Braemar Property Value Report. Today’s edition focuses on the latest happenings in the Courtyard homes in our neighborhood. 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.

During the current reporting period of May and June 2021, there were five Courtyard homes that sold. The details of those five sales are listed below:

With sold prices ranging from $521,900 to $560,000, I would say that Braemar Courtyard homes are doing quite well. However, to get the best look at what’s been happening, these figures combined with the entire previous twelve months of Braeamr Courtyard home sales allow me to update the six and twelve month data points. They definitely show the effects of the strong seller’s market we have been experiencing.

Looking at the sold price column, we see the six month average sold price has seen a healthy increase over the twelve month average sold price. More impressive is the substantial increase in value in the six month median sold price over the twelve month median sold price. Braemar Courtyard homes have been gaining value quickly with the frenzied buyer demand and lack of inventory.

Seller subsidy is where we learn how much closing cost help Braemar Courtyard home buyers were able to negotiate from their sellers. All the values, except for the twelve month average are at zero. In fact, the twelve month average only has a value in it because, of the twelve Braemar Courtyard homes that have sold in the past twelve months, one in August 2020 gave about two percent of the sales price in closing cost help. The overwhelming majority of Braemar Courtyard home sellers had to give nothing in seller subsidy to strike a deal with their buyers.

inge days on market shows an interested trend updward in the six month average compared to the twelve month average. That can be explained by two Braemar Courtyard home sales that took double digits to get under contract in the past twelve months, one pictured above in fact. The six and twelve month median days on market are the same at four days. That means that half of all Braemar Courtyard home sales in both time frames happened in four days or less.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect to be under contract in less than one week. You could also expect to give nothing in closing cost help.

The next Braemar Property Value Report will be out in September. Until then, when it is time to sell your Courtyard home, remember that no matter the market conditions, the only way you make the absolute most the market will bear for a home of your size and style is by creating buyer enthusiasm. That happens when a home is properly prepared and professionally marketed. Get in touch with me and ensure you get both of those working for you. 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: March-April 2021 (Courtyard Series)

Braemar Property Value Report: March-April 2021 (Courtyard Series)

What a crazy week! Gas lines with a potential gasoline shortage is a reminder of how quickly things can change. Our Braemar real estate market changed, as did the entire Northern Virginia market, during the pandemic last year and has only ratcheted up to the benefit of sellers since then.

In this edition of the Braemar Property Value Report the focus is on Courtyard homes. 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.

During our current reporting period of March and April, there were no Braemar Courtyard homes that sold. It happens. They are very small percentage of the overall neighborhood and no sales in a two month period is not unusual. Thankfully, with the last twelve months of sales updated,we still get a chance to evaluate the shorter term vs. longer term values and see what’s happening overall.

Starting 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 means Braemar Courtyard homes are still gaining value. No surprise in the current seller’s market.

The seller subsidy category reveals more seller market trends. Seller subsidy is the amount of closing cost help that buyers were able to negotiate from their Braemar Courtyard home sellers. Seeing all but the twelve month average values at zero is what I would expect. In order to become the winning bid in a multiple offer situation, buyers are having to forego seller subsidy requests.

Days on market goes a different direction than I thought it would. The six month average and six month median marketing times are both longer than their respective twelve month values. Oddly, in the most recent Braemar Courtyard home sales, time to go under contract was a little longer.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in about a week. You could also expect to pay nothing in seller subsidy. As a bonus, you are likely to get a buyer that doesn’t request inspection and may even waive appraisal. Yes, that’s how crazy the market has become.

The next Braemar Property Value Report will be out in July. Until then, when the time comes to sell your Braemar home, get in touch with me. A well prepared and professionally marketed home is always going to sell for more than its competitors. Who you hire matters. 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: 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
703-402-0037, ChrisAnn@LNF.com
www.SellingBraemar.com
www.UncompromisingValues.com
www.ChrisAnnCleland.com