Braemar Property Value Report: September-October 2020 (Ryan Homes)

Braemar Property Value Report: September-October 2020 (Ryan Homes)

Having closed out September and October, it is time to bring you another Braemar Property Value Report. Today’s report focuses on the houses built by Ryan Homes in our neighborhood.

There were two Ryan homes that sold during the last two months. As you will see by the details of both sales below, there is quite a bit of difference in their sold prices. What is not noted is the square footage of the homes. However, you have probably rightly guessed by now that the Chandler model is a lot larger than the Victoria model.

Taking these two sales and combining them with the entire past twelve months worth of Ryan home sales in Braemar, the six and twelve month data points are updated as seen below:

Everyone loves to start with the sold column, and so do I. Here we find that both the six month average sold price and the six month median sold price are higher than their respective twelve month sold prices. This means that Ryan homes are continuing to gain value in this seller’s market.

Seller subsidy, also known as closing cost cost assistance from seller to buyer, is another column that shows seller favored trends in the more recent sales. Both the six month average seller subsidy and the six month median seller subsidy are lower than their twelve month counterparts. In particular, I am loving the six month median $1,500 seller subsidy. This value means that of the Ryan home sellers in the last six months, more than half of them gave $1,500 or less. That’s another product of the intense buyer demand and scarce inventory we are facing.

Days on market shows us how long it took Ryan homes to go under contract. The six month average marketing time is nearly two weeks faster than the twelve month average marketing time. Better yet, both the six and twelve month median marketing times are in agreement at four days. This means that in both time periods, more than half of Ryan home sellers were under contract in four days or less.

If you placed your Ryan home on the market, priced to current conditions in Braemar, you could expect it to be under contract in less than one week. You could also expect to give very little in seller subsidy.

The next Braemar Property Value Report will be out in January. Until then, I wish you all the best this holiday season. Of course, if the need arises to sell your Braemar home, don’t hesitate to reach out. Our year end market is a very powerful time to sell. You may find waiting until spring to list unnecessary. Get in touch and I’ll be happy to show the benefits of listing in each market and we’ll figure out what works best 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: September-October 2020 (NV Homes)

Braemar Property Value Report: September-October 2020 (NV Homes)

Showing property on a rainy day can be messy. Thank goodness for hooded rain jackets with deep pockets. Helps to not have to carry an umbrella. All part of being prepared when you are Top Real Estate Agent in the area. Another part of being a Top Agent, at least as far as I am concerned, is having a grasp on market data. One of the things that started me doing these Braemar Property Value Reports back in 2005 was a want to know what was happening my neighborhood. Being able to compile these reports and share them with you is something I take pride in.

Today’s Braemar Property Value Report focuses on the NV Homes in our neighborhood. During the months of September and October, there was only one NV Home that sold. The details of that sale are listed below.

Combining that one sale with the entire past twelve month of NV Home sales in Braemar, the six and twelve month data points are updated as reflected below.

Looking first at the sold price column, what indicates rising values are six month values higher than their respective twelve month values. In the case of this NV Home report, those six month values are falling below their twelve month counterparts. Having seen this in the Arista Home report, of equivalently large single family homes are featured, I’m not necessarily surprised by this. Could be a blip. Could be we are seeing the softening of the real estate market start here in the larger single family homes. When we had our slide in 2008, that’s where it started was larger single family home values. Unfortunately, all we can do is wait for the next report to see if this was a blip, or if the same happens next report.

The seller subsidy column is where we learn how much closing cost help sellers gave to their buyers. Her we find exactly what I would expect to find in the strong seller’s market we have been experiencing. The six month average seller subsidy has decreased more than half of what the twelve month average seller subsidy was. And the six and twelve month median values are in agreement at zero. This latter one is more telling because it means more than half the sellers in both time frames gave nothing in closing cost help.

Marketing time is showing conflicting information. The six month average days on market was two days shorter than the twelve month average days on market. That indicates that NV homes were selling faster in the shorter term. Meanwhile, the six month median has doubled compared to the twelve month median. However, the six month average and six month median marketing times are in agreement.

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

The next Braemar Property Value Report will be out in January and will detail how we ended 2020. In the meantime, I wish you every happiness this holiday season. And if the need arises to sell your Braemar home, don’t hesitate to call me. Our year end selling season is one of the most powerful times of the year to sell and I would be happy to tell you why. 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 2020 (Heritage Series)

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

A rainy fall day is a good day to bring you another Braemar Property Value Report. Of course, from where I sit as a Top Braemar Real Estate Agent, I think any day is a good day for Braemar Property Value Report. Today’s report focuses on Heritage homes in our neighborhood. 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.

Looking back to September and October, there were eight Heritage homes that sold in our neighborhood. The details of those sales are listed below:

At a glance, we see that sold prices ranged from $515,000 to $586,000. Only three of eight sellers gave any seller subsidy and there is only one double digit days on market (DOM.) Taking these eight sales and combining them with the entire twelve months of Braemar Heritage home sales, our six and twelve month data points are updated as seen below:

Starting with the sold price column, we find both the six month average and six month median sold prices are higher than their respective twelve month sold prices. This means Heritage homes in Braemar are still gaining value. No surprise in our scarce inventory/high demand market.

Next up is the seller subsidy column, where we learn how much closing cost assistance sellers gave to buyers in their transactions. The six month average seller subsidy is slightly lower than the twelve month average seller subsidy. The six month median and twelve month median seller subsidy values are in agreement at zero. That means in both those time period of sales, more than half the sellers gave nothing in closing cost help.

Days on market shows an already healthy twelve month average marketing time shrinking by one week in the six month average. As for the median values, they are both at five days. That means more than half the sellers in each of those time frames got under contract in five days or less.

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect it to be under contract in about a week. You could also expect that you would not have to give any seller subsidy.

The next Braemar Property Value Report will be out in January. Until then, I wish you every happiness this upcoming holiday season. Of course, if the need arises to sell your Braemar home between now and next report, don’t hesitate to get in touch. Our year end market is incredibly powerful and may be just what you need. I am happy to conduct a free consultation to explain what a year end sale could mean to 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: September-October 2020 (Courtyard Series)

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

Seems I am usually scrambling near the end of the odd numbered months to get these Braemar Property Value Reports together. This month, I am definitely ahead of schedule. And what a great month to be getting an early start. It will leave time for Thanksgiving planning and holiday decorating.

Today’s Braemar Property Value Report focuses on 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 our current reporting period of September and October, only Braemar Courtyard home sold. The details of that sale are listed below:

Being a much smaller percentage of home styles in Braemar, it is not unusual to see sparse sales of Courtyard homes in any given time period. However, combining the current reporting period with the prior ten months of Braemar Courtyard home sales, we get an entire year’s worth of information that we can break into six and twelve month data points. This is what lets us know what’s been happening in the market.

Starting with the sold price column, we see healthy increases in the six month average and median values compared to their respective twelve month values. This means Braemar Courtyard homes have been gaining value in the most recent sales.

Seller subsidy is where we learn how much closing cost help sellers gave to buyers in their transactions. The six month average seller subsidy is down a good chunk of change compared to the twelve month average. Meanwhile, both median values are at zero. The latter means that in both sample sizes, more than half of the sellers didn’t give any closing cost help at all. Buyers are having to make extremely competitive offers to get under contract.

Days on market is the final column and where we learn how long it took for Braemar Courtyard homes to go under contract. The six month average was two days quicker than the already fast six days seen in the twelve month average marketing time. Both median values are in agreement at four days. Braemar Courtyard homes, like just about every home style, are getting gobbled up fast in this low inventory/high demand market.

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 a week. You could also expect to give nothing in closing help.

The next Braemar Property Value Report will be out in January. Until then, I wish you every happiness the holiday season has to offer. If you find yourself with the need to sell between now and then, don’t hesitate to reach out and find out the benefits of our year end market vs. waiting for spring. 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 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: September-October (Arista Series)

Braemar Property Value Report: September-October (Arista Series)

It’s a gorgeous autumn day in Braemar. The sun is streaming through the trees, becoming more and more bare with each passing day. It’s one of those days where you may opt for air conditioning during the day, but will need the heat at night. The change from warm to cold doesn’t happen all at once.

The kind of change monitored here in the Braemar Property Value Report is changes in the real estate market. In this particular report, the focus in on the Arista Series homes in Braemar, which are the largest of the single family homes built by Brookfield Homes in our neighborhood. Their floor plans are the Allister, Buckingham and Canterbury.

Looking back at the last two months of Arista home sales, we find only one that closed between September and October. The details of that sale are found below:

Obviously, no trend can be determined by looking at one sale, or even a handful. That’s why I take this sale and combine it with the entire past twelve months of Arista home sales and pull out the six and twelve month average and median values. That’s where we find trends.

Looking first at the sold price column, we see that the six month average sold price has fallen ever so slightly below the twelve month average. Meanwhile, the six month median sold price is exactly the same as the twelve month median sold price. No increase by leaps and bounds in the Arista homes. Values are stable.

Seller subsidy is where we get to find out how much closing cost assistance sellers gave to buyers. The bad news for would-be Arista home sellers is that we see increases in both six month values over their respective twelve month values. That means, despite the most recent sale where no seller subsidy was given, Braemar Arista home sellers have been giving more closing cost help in the more recent sales as a whole.

Marketing time, marked above as days on market, shows very little change. The six month average marketing time is exactly the same as the twelve month marketing time. The six month median marketing time improved by one day from an already low six days in the twelve month median. Braemar Arista homes are selling quite quickly.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contact in about two weeks, if not in under one week. You could also expect to give an average of 1% of the sales price, maybe less, in closing cost help.

The next Braemar Property Value Report will be out in January. Then, we’ll be able to see how we finished up the year. Despite popular opinion, the year end market is a very powerful one in which to list. If the time has come to sell, don’t feel you have to wait until spring. Get in touch with me for a free market analysis and discussion on what a year 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 2020 (Ryan Homes)

Braemar Property Value Report: July-August 2020 (Ryan Homes)

The month of September is slipping by fast and I am in the home stretch of putting out all my most recent Braemar Property Value Reports.  My internal deadline is to have them out by the end of the odd numbered months.  Tick tock.  Today’s report focuses on sales of houses built by Ryan Homes in our neighborhood and like the rest of the reports put out this month that preceded it, details sales in the months of July and August.  Let’s get right to it.

There were only two Ryan homes that sold during our current reporting period.  There’s a fairly big difference in their final sold prices.  See for yourself.

The difference in sold prices here goes beyond an additional bedroom on Gentle Shade.  I listed 12833 Gentle Shade the last time it sold.  The home was in good shape, but in need of updating.  Boy, did the new owners take care of that.  That home was updated from head to toe and the basement even finished.  Ballagan, while a nice looking home in good condition, still had basic finishes.

Taking these two sales and combining them with the entire previous twelve months of Ryan home sales in Braemar, our six and twelve month data points are updated as found below:

Starting with the sold price column, we see very healthy increases when comparing the six month average sold price to the twelve month average, and the same when comparing the six month median to the twelve month median.  This means Ryan homes in Braemar are continuing to gain value in this seller’s market.

Seller subsidy is a column where we learn how much closing cost help, on average, sellers of Ryan homes are giving in their sales.  When looking at the details of our two most recent sales, the sellers gave no seller subsidy at all.  However, the six month average seller subsidy is a bit higher than the twelve month average.  Not the direction I’ve noticed lately.  More importantly, the six month median is exactly the same as the twelve month median.  This means that even the shorter term, more than half the Ryan home sellers in Braemar have been giving closing cost help of at least $5,000.

Days on market clearly shows the current seller’s market in full swing.   The six month average marketing time has decreased by twenty days from the twelve month average.  Meanwhile, the six month median is two days shorter than the already quick twelve month median.  Buyers are gobbling up Ryan homes in Braemar just about as fast as they are coming on the market.

If you placed your Ryan home in Braemar 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 in the neighborhood of about 1% of the sales price in closing cost help, but might get away with giving nothing if this buyer demand continues producing intense competition.

The next Braemar Property Value Report will be out in November.  Until then, know that if you want to take advantage of the peaking prices in our neighbor, the year end market is a great time to do it.  Limited inventory is only getting more limited while buyers are still out in droves.  Get in touch and let’s investigate what a year end sale might 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

 

 

Braemar Property Value Report: July-August 2020 (NV Homes)

Braemar Property Value Report: July-August 2020 (NV Homes)

Another late September day, another Braemar Property Value Report to share.  This one focuses on the sales of houses built by NV Homes in our neighborhood and covers the activity from July and August.

There were two NV homes that sold during our current reporting period.  Their sold prices were very close to each other at $552,000 and $565,000.  Looking at the details below, on paper it seems the only difference is one had a walk out basement exit and the other didn’t have an exit at all.  That $13,000 difference in sales price, if all else is equal, is what appraisers call a market extraction.  That’s how appraisers determine values of different upgrades or structural differences.  Find two that are mostly alike except for one thing  and figure how much that one thing the higher priced home had is worth.  There isn’t just a list of values for basement exits, extra bedrooms, bathrooms, upgraded kitchens, etc.  It’s all determined by market extraction and why values for upgrades and structures change so frequently.  It’s one of the reasons that hiring a listing agent that understands this principle is so important.  They may be able to find a higher extraction and raise your value.

Enough with the market extraction lesson, the details of those NV home sales are listed below:

As is my practice, I take these most recent sales and combine them with the rolling twelve months of NV home sales and extract six month and twelve month value points to tell us how our market is trending.  The updated values can be found below:

Starting with the sold price column we see that the six month average is a tad higher than the twelve month average sold price.  Meanwhile, the six month median is nearly $10,000 higher than the twelve month median.  While NV home values are still pushing up, their rate of gain is not as pronounced as we see in lower price ranges.  The higher price ranges in our market have not been seeing the frenzied activity of the low $500K and below homes.  Still, upward pressing values is still a good thing.

The seller subsidy column shows us how much closing cost help NV home sellers have been giving on average.  The six month average has fallen below the twelve month average by more than half.  And the six month median and twelve month median remain at zero.  The latter means that more than half of buyers for NV homes are foregoing closing cost requests, or having them negotiated away, in their transactions.  We do see in the two sales above that one seller gave nothing and the other gave $3,000.  Seeing $15,000 in closing cost help is going to be exceptionally rare in this seller’s market.

Days on market is where we find out how long it is taking NV homes to sell in Braemar.  Though only up by one day each, the six month average is higher than the twelve month average and so is the six month median compared to the twelve month median.  The two most recent sales show days on market of over three weeks.  As I stated earlier, the higher price ranges are not as fast as the lower priced single family homes in our market.

If you placed your NV 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 give minimal closing cost help, if any at all.

The next Braemar Property Value Report will be in out in November.  Until then, I hope you all enjoy the fall season’s upcoming display of brilliant color.  Of course, if you have been thinking of taking advantage of the peaking prices in our neighborhood, or find yourself in a position where a move is inevitable, know that our year end market is one of my favorites in which to sell.  Demand is always there, but inventory is very low.  This year, that difference will be even more pronounced with higher buyer demand than we have seen many fall markets.  Give me a call and let’s see what a year end sale would 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

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

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

The arrival of fall is one of my favorite things in a calendar year.  Like many, I am anxious to see the brilliant display of fall foliage that is on the way.  In the meantime, allow me to share with you the most recent Braemar Property Value Report.  This one details sales of homes in the Heritage Series.  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.

 

During the months of July and August, there were fourteen Heritage homes that sold.  That’s a lot, but still not enough to meet our current buyer demand.  Details of those sales are listed below:

Taking these fourteen sales and combining them with the entire past twelve months of Heritage home sales in Braemar, our six and twelve month data points are updated as seen below:

Starting with the sold price column, we see increased values in the six month average and median sold prices over the twelve month average and median sold prices.  This means Braemar Heritage homes are continuing to increase in value.  That’s the beauty of a seller’s market.

In the seller subsidy column, we learn how much closing cost help Braemar Heritage home sellers are giving in their transactions.  The great news is that it is not much, if anything at all.  The six month average seller subsidy has been whittled down about one thousand dollars from the twelve month average.  Meanwhile, the median values still show us that more than half the sales, in the last six months and during the last year, are giving nothing in seller subsidy.

Days on market is another column where we see the seller’s market condition in full swing.  The six month average marketing time is less than half the twelve month average marketing time.  Meanwhile, the six month median days on market is exactly that same as the twelve month median.  Heritage homes in Braemar are selling quickly!

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect to be under contract in about a week or less.  You could also expect that you would have enough leverage in negotiations to not give anything in closing cost help.

The next Braemar Property Value Report will be out in November.  Until then, if you want to take advantage of the peaking values this seller’s market is producing, know that the year end market is going to push them even higher.  Why?  There are even fewer sellers this time of year and I can tell you, the buyers are still out looking for homes.  Give me a call and let’s look at what a year end sale would 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

 

 

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

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

As September is drawing to a close, as with every other odd numbered month, I find myself pressed to get out the latest Braemar Property Value Reports.  Whether you realize it or not, these are report compiled by me.  I don’t get a computer to dump values into a spread sheet.  Nope, I pull the sales, collect the data and prepare this reports for you.  That’s one of the reasons I am a Top Braemar Agent.

Today’s report is for Courtyard homes and looks back on the sales activity for July and AugustIf you aren’t sure what a Braemar Courtyard home is, 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 were three Braemar Courytard homes that sold during our current report period.  Final sold prices ranged from $450,000 to $495,000.  The details of those sales are listed below:

Taking these three sales and combining them with the entire previous twelve months of Braemar Courtyard home sales our six and twelve month data points are updated as seen below:

Starting with the sold price column we see that there is a healthy increase in the six month average and six month median values compared to their respective twelve month values.  This means Braemar Courtyard homes are increasing in value.

The seller subsidy column is where we get to see how much closing cost help Braemar Courtyard home owners have been giving in their transactions.  Obviously, in the three sales listed above, only one home owner gave closing cost help.  Looking at the six month average seller subsidy, it is slightly lower than the twelve month average seller subsidy.  That could indicate that buyers are asking for less.  However, the troubling stat is seeing that the six month median seller subsidy is $3,750 vs. zero in the twelve month median.  That means more than half of Braemar Courtyard home sellers have given something in closing cost help in the more recent sales.

When it comes to days on market, it is not a surprise to see the six month average marketing time has decreased compared to the twelve month average.  Meanwhile the six month median is still at four days, just like the twelve month median.  This means that Braemar Courtyard homes are selling super fast.

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 a week.  You could also expect to pay about 1% of the sales price, or slightly less, in seller subsidy.

The next Braemar Property Value Report will be out in November.  Until then, if you want to take advantage of our peaking market and these high sales prices, give me a call.  Even in a seller’s market, professional marketing with an experienced agent is going to find you netting the absolute max 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