Braemar Property Value Report: July-August 2021 (Ryan Homes)

Braemar Property Value Report: July-August 2021 (Ryan Homes)

Another gorgeous September day brings another Braemar Property Value Report. The days are gradually cooling off, and perhaps our real estate market as well. In this edition of the BPVR we focus on sales of houses built by Ryan Homes in the neighborhood during the last two months of summer.

During July and August there were ten Ryan Homes in our neighborhood that sold. I was pleased to have listed one, which you will see highlighted in pink below:

Sold prices ranged from $610,000 to $770,000. I know the listing I had at 12809 Gentle Shade Drive hit a happy spot with buyers despite not having top of the line updates and a fully finished basement, getting $68,000 above list price. That’s the biggest leap from list price to sold price in the most recent sales. See what hiring a professional marketing agent that knows the neighborhood like the back of her hand can do for you.

Taking these ten sales and combining them with the last twelve months of Ryan Home sales in Braemar, our six and twelve month data points are updated and continue to show the strength of our seller’s market.

Starting with the sold price column, we see both the six month average and six month median values are higher than their respective twelve month values. Despite the buyer frenzy cooling off a bit this summer, Ryan Homes are still gaining value. And unlike some of the homes I have reported on lately, Ryan Homes saw a steady rate of increase in the twelve month average to the six month average of 2% since last report. Better yet, while some homes have seen decreases in median value gains since last report, Ryan Homes saw a 5% uptick since last report’s 2% median growth. All great news.

Seller subsidy is where we learn how much closing cost help buyers were able to negotiate from their sellers. Down the line in the ten most recent sales, the answer is zero. That is also the answer in the seller subsidy average and median values with the exception of the twelve month average. Out of twenty-three sales in the past twelve months, only one seller gave closing cost assistance, which is why the average is such a low value.

Days on market is five days down the line. Some of the most recent sales happened ever faster than that, some longer. However Ryan Homes are still selling ridiculously fast as inventory still is not enough to meet buyer demand.

If you placed your Ryan Home on the market, priced to current conditions in our Braemar real estate market, you could expect your home 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 November and will let us know if fall is off to a strong start, which I suspect it will be. Our year end market is usually a great one, fueled by the beginning of the fiscal year for the Federal government. Until then, if you want to investigate the possibility of selling your Braemar home, get in touch with me. Since 2005, No One Knows Braeamar 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 (NV Homes)

Braemar Property Value Report: July-August 2021 (NV Homes)

It has been a string of gorgeous September days lately. Just the right temperature and beautiful blue skies, very similar to the sky in the picture above. While I would rather be out enjoying the day, work still needs to get done. For this Top Braemar Real Estate Agent, that means getting out another Braemar Property Value Report. Today’s report focuses on the sales of houses built by NV Homes in our neighborhood during the last two months of summer. Without further delay, let’s get to it.

During July and August there were six NV Homes that sold in Braemar. The details of those sales are listed below:

Wow! Very health sold prices in that sold price column. But how do the six and twelve month data points look?

Starting with the sold price column we see both the six month average and six month median values are most definitely higher than their twelve month respective values. This means NV Homes are still pushing up in value. This report the average was up 4% in six months. The median value was up 3% over six months. Compared to last report, the average growth is down 3% and the median growth is up 2%. Only time will tell where values go from here. All I know is that the summer brought a slowing of the buyer frenzy we had been experiencing since 2020. Even with that slow down, it has remained a healthy seller’s market.

The seller subsidy column is where we learn how much closing cost help buyers were able to negotiate from their sellers. The answer in the six month and twelve month median values is none. That means more than half the sellers in both time frames gave absolutely nothing in closing cost help. However, NV Home sellers have been giving something since there are values in the six month and twelve month average values. One of those seller is represented in the most recent sales above with $2,300 in seller subsidy. That’s only one seller out of six that gave any closing cost help. It is a rarity these days as buyers are competing against other buyers to be the offer chosen.

Days on market is where we find out how quickly NV Homes are going under contract. Very fast. The six month average marketing time was only three days compared to the seven days seen in the twelve month average. Meanwhile, the six month median marketing time is only two days, which is even faster than twelve month median marketing time of three days.

If you placed your NV Home on the market, priced to current conditions, you could expect it ot be under contract in less than one week. You could also expect to give nothing in seller subsidy.

The next Braemar Property Value Report will be out in November. Until then, if you have been considering the sale of your Braemar home, waiting until next spring may not be the most beneficial move. Our year end housing market in Braemar is a powerful one, fueled mainly by the fiscal year for the Federal government beginning October 1st. New jobs are created and raises abound. Meanwhile, fewer sellers tend to take this time of year seriously. The sellers that do tend to make out very well. Call me and find out what a year end sale could mean 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: 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: July-August 2021 (Carraige Series)

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

Even though it is technically still summer until September 21st, after school starts and we begin the month of September, it feels like the unofficial beginning of fall. July and August sure went by in a flash, and with them more Braemar Carriage home sales to report in this edition of the Braemar Property Value Report. Since this report focuses solely on Braemar Carriage home activity, it is important to know what defines a Carriage home in our neighborhood. 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, accessed by a private driveway off of the street, or off of a shared alley in the back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

During the current reporting period, there were three Braemar Carriage homes that sold. The final sold prices ranged from $531,000 to $615,000. Details of those three sales are listed below:

Sold prices keep marching up. For specifics on how the market is doing, let’s take a look at our updated six and twelve month data points.

Starting with the sold price column we see big increases from both the twelve month average and median to their respective six month average and median values. The jumps were 7% and 10% in value. Last report, we saw values jumps of 6% and 8%. Braemar Carriage homes, despite what was overall a slowing in the market during the summer months, have appreciated at an even better rate than previous reporting. As I recall, Braemar Carriage homes were the least impacted by lack of sales in our real estate crash over a decade ago. These homes will be the last to show any slowing of the market.

Seller subsidy is where we see how much closing cost assistance buyers were able to negotiate from their Braemar Carriage home sellers. The six and twelve month average seller subsidy numbers indicate that across the board, very few buyers even ask for closing cost help. The six and twelve month median values at zero show us that more than half of buyers in both time frames needed no closing cost assistance.

Marketing time is still super fast. We see single digits down the line with the only change being a one day decrease from the twelve month average marketing time of five days to the six month average marketing time of four days. Carriage homes are always one of the hottest selling homes in Braemar. That also makes them one of the smartest investor purchases in our neighborhood.

If you placed your Braemar Carriage 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 no seller subsidy as buyers continue to compete to get under contract.

Just because we are entering the year end market does not mean that the real estate market will slow. In fact, it is typical for activity to pick up about this time as folks are done with vacations. More importantly, the Federal government’s new fiscal year starts October 1st, filled raises and new job opportunities for employees and contractors.

The next Braemar Property Value Report will be out in November. Until then, get in touch with me to find out what a sale in the near future would mean for you both financially and logistically. 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 (Arista Series)

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

As I type this, Tropical Storm Ida is making this day in Bristow perfectly miserable. Bands of wind and rain have been broken by the ocassional glimpse of sunshine. Days like this always remind me why I gave up on umbrellas and now opt for hooded rain jackets. There is never a substitute for the best preparation for anything in life, real estate included.

Today I bring you the first in the July-August 2021 Braemar Property Value Reports. This one focuses on sales of Arista Series homes in our neighborhood. Arista homes are the largest single familiy homes built by Brookfield Homes in Braemar and include the Allister, Buckingham and Canterbury models. Let’s get right to it and see what happened during the last two months of summer.

During July and August there were three Arista homes that sold in Braemar. They were all Canterbury models with three to four fully finished levels. The details of each of those sales is detailed below:

Quite a difference in sold prices to see a six bedroom, five and a half bathroom Canterbury sell for $729,000 while two others with one and two fewer bedrooms, and one fewer full bathrooms, sold for $790,000 and $791,000. What’s the difference? The $729,000 sale was a little more basic inside in terms of finishes (Corian counter tops, for instance in the kitchen,) but the glaringly obvious fact to an agent like myself on that lower sale was the lot. That home backed to the middle school and the water tower. Location matters tremendously in real estate.

By comparision, the $790,000 and $791,000 sales backed to trees. One was very well kept with a finished loft in addition to the basement. That was the $790,000. The $791,000 backed to the same tree line, lacked a finished basement, but had an in ground pool. Pools are great, but should not be counted upon in the Bristow market to bring you more in your sale. In this case, it seems the pool was equivalent in markekt value to a finished loft that added an additional bedroom, bathroom and open space.

Taking all three of these sales and combining them with the entire past twelve months of Arista home sales in Braemar, the six and twelve month data points provide us information that suggest the market may be slowing down.

To start with, the sold price column doesn’t show tremendous increases in sold prices from the six month average and median compared to the twelve month average and median. The highest increase was comparing the averages and only accounted for abourt 1% average increase in six months. The median sold prices are much more telling, as they show an increase of only $500 in six months. Our last report showed much larger increases.

Seller subsidy, also known as closing cost help to buyers, was zero down the line. This is something we have been seeing as buyers compete for fewer homes. Asking for closing cost help in an offer is a one way ticket to not getting your offer accepted in multiple offer situations these days.

Days on market reveals more data that inidcates a slowing pace to the frenzied seller’s market. Both the six month average and six month median marketing times were longer than their respective twelve month values. Nine days is still not a long time to market a home by any means, but it is an indcator that the market is changing to see marketing time getting longer.

If you placed your Arista home on the market, priced to current conditions, you could expect it to be under contract in more than a week and less than two weeks. You could also expect to not have to give any seller subsidy.

The market slow down in this report from July and August is likely an impact of summer vacations. So many families missed out on them in 2020 and were adamant about taking them this year. Buyers took time away from the market for summer and sellers who thought that summer vacation while the kids are out of school is the best time to list, provided a lot more inventory, giving the fewer buyers more choices. Obviously, it is still a seller favored market. Only time will tell if the buyer frenzy that drove prices up steeply this year returns in the fall.

The next Braemar Property Value Report will be out in November. We’ll have a good idea by then if the buyer frenzy has returned. Until then, if you want an in depth market analysis of what a sale could mean for you, get in touch with me. Listing preparation and professional marketing are the keys to not leaving money on the table, no matter the market. And my added expertise on our neighborhood add even more the professional marketing of your home. 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 (Ryan Homes)

Braemar Property Value Report: May-June 2021 (Ryan Homes)

Ah Monday…my favorite day of the week. Ever since becoming a Bristow Real Estate Agent, I have loved the start of the work week and today is no exception. While my travels today had me outside of Bristow, helping buyers who had once sold in Braemar, but relocated to Locust Grove, I am happy to end my day doing what I do best…helping Braemar home owners.

What I bring to you today is the Braemar Property Value Report for houses built by Ryan Homes in our neighborhood. This particular edition focuses on the sales between May and June, and then provide updated six and twelve month data points that allow us to decipher the direction of the market. Let’s get right to it.

There were five Ryan Homes that sold in Braemar in May and June. The details of those sales are listed below:

There is a large variation in sold price in the five sales, ranging from $536,000 to $740,000. The variation, in large part, comes the variety in home sizes that Ryan Homes offered in Braemar. Another factor, of course, is the finishes each home offers on the market.

Taking these sales and combining them with the entire past twelve months of Ryan Home sales in Braemar, the six and twelve month data points show signs of a very healthy seller’s market.

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 that Ryan Homes in Braemar are continuing to gain value in the seller’s market.

The seller subsidy column is where we learn how much closing cost assistance buyers were able to negotiate from their sellers. In all but the twelve month average, the answer was zero. And the twelve month average only has a value because ONE Ryan Home sale, out of fifteen that happened in the past twelve months, gave $3,000 in seller subsidy. That sale was in September 2020. There has been no seller subsidy given in Ryan Home sales since. In the seller’s market with so little inventory, buyers are having to forego many requests to make their offers strong enough to be chosen in multiple offer scenarios.

Days on market needs no real analysis. Down the line from six month average and median to twelve month average and median, the number of days it took to go under contract was four. Obviously, some of the more recent sales took longer, but average and median values are so steady it is scary.

If you placed your Ryan Home on the market, priced to current conditions, you could expect it to be under contract in less than one week. You could also expect to give nothing in seller subsidy.

As I type this, I have noticed in July that buyer demand is decreasing a bit. Still, buyers outnumber sellers, but not by as much as before. What has likely happened, as does every July and August, is that sellers rush to sell when school is out while buyers go on summer vacation. Expect things to heat back up in the fall.

The next Braemar Property Value Report will be out in September. Until then, if the need arises to sell your home, get in touch with me. Sellers are leaving money on the table in many deals in this seller’s market. By hiring inexperienced, or cut rate agents that put zero effort into marketing a property or giving seller’s notes on getting a home market ready, buyer enthusiasm lacks. My job is to create buyer enthusiasm to get the max ANY market will alow. It is done with proper listing preparation and professional marketing. My efforts don’t wane because buyer demand is high. 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 (NV Homes)

Braemar Property Value Report: May-June 2021 (NV Homes)

The end of the work week has arrived. TGIF! It’s been a long week. While there is no end of the work week for a Top Braemar Real Estate Agent like myself, the acknowledgement of the start of the weekend is still ingrained deep in my soul from school days.

Today’s Braemar Property Value Report focuses on the sales of houses built by NV Homes in Braemar during the months of May and June. During those two months, there were only two sales. The details of those sales are listed below:

These sales demonstrate the crazy buyer demand that was present in both months. Iona Sound sold well above list price in two days and Arthur Graves Jr. went under contract at a high list price before ever hitting the market. Was it a sight unseen offer? Based on the fact that there is no listing agent listed and no MLS photos, I think it was a private sale between two parties, the buyers represented by an agent.

Taking these two sales and combining them with the entire past twelve months of NV homes sales, the six and twelve month data points are updated to continue to show the impact of the seller’s market.

Starting in the sold price column, we see a big jump in value from the twelve month average sold price to the six month average sold price. However, the six median median sold price is only slightly higher than the twelve month sold price. Either way, the trend is up and that’s a good thing for NV home owners.

Seller subsidy is where we learn how much closing cost help buyers negotiated from their NV home sellers. In all except the twelve month average the answer was zero. And the twelve month average only has a value because two of twelve sales in the past twelve months gave seller subsidy. The most recent of those two sales was in December 2020. Seller subsidy requests so far in 2021 have been absent in winning bids on NV homes.

Days on market shows a dramatic change in both twelve month average and median values shrinking the in the six month average and median time frames. Selling an NV home is not a lengthy process these days.

If you placed your NV home on the market, priced to current conditions, you could expect it to be under contract in a few days. You could also expect to give nothing in seller subsidy.

The next Braemar Property Value Report will be out in September. Until then, when it is time to sell your home, understand that creating buyer enthusiasm is the key to getting the top of the market price in any market conditions…even a seller’s market. Buyer enthusiasm comes from proper listing preparation and professional marketing…two things I help sellers with every day. Get in touch with me for a run down of what it takes to achieve top of the Baemar 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: May-June 2021 (Heritage Series)

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

Another late July day is coming to an end and I find myself doing what I love most, keeping up with the Braemar real estate market. That’s what top Braemar real estate agents like myself do… they eat, sleep and breathe real estate. So at this moment, I bring you another Braemar Property Value Report. This one focuses on the Heritage Series home sales in our neighborhood for May and June. Note: Heritage homes are mid-sized single family homes, built by Brookfield Homes.  They have two car attached garages and include the following floor plans:  Exeter, Yardley, Zachery (a.k.a. Zurich) & Waverly.  The homes built by Coscan in Braemar North Gate are also included in this group, as they are similar in size.

There were seven Heritage home sales between the beginning of May and end of June. They all happened to sell in May. Details of the seven sales are listed below:

At first glance, you can see that every one of the seven sold prices start with a six. That’s quite an achievement in and of itself as you will see by the updated six and twelve month data points in the next graphic.

Starting with the sold price column it is evident that the six month average and median sold prices have leapt up substantially compared to their respective twelve month values. Braemar Heritage homes have been gaining significant equity in this market with little inventory and frenzied buyer demand.

The seller subsidy column is where we learn how much closing cost assistance Braemar Heritage home buyers were able to negotiate from their sellers. In the six month average and six month median, even the twelve month median value, seller subsidy is zero. The twelve month average has a small value as a result of nine of forty sales in the past twelve months that gave seller subsidy. Of those nine sales, six sellers gave significant amounts of closing cost help, three gave amounts that would lead an experienced agent to think they were repair credits. No seller has given seller subsidy since Ocober 2020.

Days on market reflects exactly what I have been experiencing as a listing and buyers agent. The highest days on market is the twelve month average at one week. In fact, looking at the most recent sales, only one of the seven was double digits.

If you placed your Braemar Heritage 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 give nothing in closing cost help.

The next Braemar Property Value Report will be out in September. Until then, if you have been considering the sale of your Braemar home, get in touch with me. Listing preparation and professional marketing are key to creating the buyer enthusiasm that gets top of the market, no matter what marketing conditions you are facing. Believe it or not, even seller’s in a seller’s market can leave money on the table. Don’t let that be 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: 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: May-June 2021 (Carriage Series)

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

Monday is my favorite day of the week. It is a day to start fresh and get working. Certainly, when you love what you do, a new work day is never a bad thing. And as a Top Braemar Real Estate Agent, I can tell you that I indeed love what I do. As proof of that, I bring you this latest edition of the Braemar Property Value Report for the Carriage homes in our neighborhood. 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, accessed by a private driveway off of the street, or off of a shared alley in the back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

There were six Braemar Carriage homes that sold in the months of May and June. The details of those sales are listed below:

First amazing thing about these six sales are their sold prices. Two of the six are $600,000 or more. And the biggest jaw dropper is the second smallest of the Carriage Series, a Norwood model on Tombreck selling for $581,600. That is a lot of money for a three bedroom Carriage home to pull.

Taking all six of these sales and combining them with the entire past twelve months of Braemar Carriage home sales, the six and twelve month data points are updated and reveal the fruits of the seller’s market.

Starting with the sold price column, both the six month average and six month median sold prices are substantially higher than their respective twelve month sold prices. This means Braemar Carriage homes are gaining a lot of value as a result of the frenzied buyer demand.

The seller subsidy column is where we find out how much closing cost help buyers have been able to negotiate from their sellers. The zeros in all but the twelve month average slot tell us that buyers are having to forego closing cost requests to get their offers accepted in multiple offer scenarios. In fact, the only reason there was even a value in the twelve month average seller subsidy is that one Braemar Carriage home seller gave $600 in seller subsidy in their October 2020 sale. That was probably a home inspection repair credit, judging by the amount.

Days on market reveals low, single digits all the way down the column, with only a one day quickening form the twelve month average to the six month average. Braemar Carriage homes are selling extremely quickly in the seller’s market.

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 to give nothing in closing cost help.

The summer months are experiencing less demand than we have seen up to the end of June, which is where this report ends. That doesn’t mean buyer demand has dried up. Inventory has increased and some buyers have taken the summer off as they travel and take vacations. A summer slow down in buyer activity and increase in seller listings in typical for our market. Even though there are still more buyers than there are listings, you may not get crazy amounts of offers in a weekend.

The next Braemar Property Value Report will be out in September. Until then, when the need arises for you to sell, understand that buyer enthusiasm is where the highest possible price comes from, no matter than market. Buyer enthusiasm is created by doing the right listing preparation and being professionally marketed, even in seller’s market. I have been helping Braemar sellers with both for a long time. 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