Braemar Piggyback Quarterly: April-June 2022 (2nd Quarter)

Braemar Piggyback Quarterly: April-June 2022 (2nd Quarter)

The second quarter of 2022 came to a close over two weeks ago and I am just sitting down to write this Braemar Piggyback Quarterly market report. If I had a whole bunch of things going on in my personal life precluding me from doing this task, that would be one thing. The reality is that the market that I keep hearing tales of crashing is keeping me intensely busy. In this edition of the Braemar Piggyback Quarterly we look back to the months of April, May and June to track the homes sold and compare our updated six and twelve month market markers. Should be interesting as this time frame was when we saw mortgage interest rates jump up just under six percent.

For those who do not know what a Braemar Piggyback townhouse is, they are the only two car garage option buyers have in attached homes in our neighborhood. These townhouses are attached side to side and back to back. What they lose in having a back yard is more than made up for in larger bedroom sizes than you would find in a traditional townhouse.

During the second quarter, four Braemar Piggyback townhouses sold. Details of those sales are seen below.

At a glance, these all look like very healthy sales. Only one of the four didn’t sell above list price. None gave seller subsidy, more commonly known as closing cost help to buyers. And they were all under contract in less than one week. It is when the six and twelve month data points are pulled from the Braemar Piggyback sales going back to the third quarter of 2021 that we get to see which way our market is trending.

Starting in the sold price column, we still find both the six month average and six month median sold prices are higher than their respective twelve month values. However, the lift from the six month to the twelve month values is not as high as it was last report. This is consistent with what I am hearing from trustworthy experts and seeing with my own eyes. Inventory is still not meeting demand, but rising mortgage interest rates has tamped down the rampant buyer frenzy. Homes are still going to be gaining value, but not in the leaps and bounds they saw since 2020. We are now looking at more measured growth. Braemar Piggyback townhouses are still gaining value.

Seller subsidy has not been a factor for Braemar Piggyback sellers except for one out of ten in the last twelve months. This actually surprises me a bit. As mortgage rates have increased, I have noticed sellers elsewhere offering some closing cost assistance toward mortgage rate buy down. It is certainly the exception and not the rule right now. It will not surprise me to see seller subsidy come back as we move through the rest of the year. However, my feeling is that it will be modest amounts we see.

Days on market shows a trend of decreasing marketing times. Just when you thought Braemar Piggyback townhomes couldn’t go under contract any faster, they are. The six month average marketing time decreased one day compared to the already super fast twelve month marketing time. And the six month median marketing time is the lowest you can go at one day, compared to the twelve month median marketing time of four days.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect to go under contract in less than a week. These numbers indicate you could expect to give nothing in closing cost help. As stated above, my gut tells me we will start seeing modest requests from buyers struggling with affordability as mortgage rates rise. You could also expect that, even though demand is still high and inventory is low, buyers are acting much more deliberately now. They are not in a frenzy. Multiple offers, while happening on some properties, is not something you can bank on. Buyers are also no longer waiving inspections or offering low appraisal guarantees. The market is steadying out to more typical buyer behavior.

As market conditions shift, the way to top of market price is still the same equation as it has always been. Proper listing preparation and professional marketing are what drives buyer enthusiasm. When buyers are excited about what they see online, and it matches what they find in person, they are more likely to act quickly and decisively. Having a top notch negotiator on your side who knows true market conditions is just as important. Already, I am seeing my sellers getting offers from buyer agents spewing doom and gloom. My sellers are able to cut through that nonsense and negotiate from a position of what is actually happening.

The next Braemar Piggyback Quarterly will be out in October. Until then, if you want to investigate the sale of your Piggyback townhouse, get in touch to schedule 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 Piggyback Quarterly: January-March 2022 (1st Quarter)

Braemar Piggyback Quarterly: January-March 2022 (1st Quarter)

It finally feels like spring. The weather is warming up. The sun is shining and the trees and flowers are coming back to life. It is a hard day to be inside typing up another Braemar market report, but my dedication to providing my fellow Braemar home owners information overrides my desire to enjoy some fun in the sun. In this edition of the Braemar Piggyback Quarterly, we look back to the first quarter of the year and what it meant for these back to back and side to side attached, two car garage townhouses in our neighborhood.

During the first three months of 2022, there were three Braemar Piggyback townhouses that sold. The details of those sales are listed below:

Quick observations of these sales show only one sold below list price, none gave closing cost help and they all sold quickly. When we combine these first quarter sales with the last three quarters from 2021 for an entire year’s worth of Braemar Piggyback townhouse sale data, the updated six and twelve month data points show us market trends to this point.

Starting in the sold price column we see both the six month average and median sold prices are substantially higher than their respective twelve month values. This means that Braemar Piggyback homes have continued to gain in value in the short term, despite sharp increases in mortgage interest rates in the first quarter.

Seller subsidy is where we learn how much closing cost help Braemar buyers were able to negotiate from their Piggyback townhouse sellers. The answer is very little. Only the six and twelve month average values even exist in small numbers as a result of one seller out of eleven in the past six months giving $4,000. Seller subsidy may make a come back as interest rates continue to go up, pinching affordability even more for buyers. Next quarter will reveal a lot more information on that front.

Days on market, or marketing time as I like to call it, is consistent in both six month values compared to the twelve month values. Braemar Piggyback townhouses are getting under contract quickly due to the continued high buyer demand.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it to be under contract in less than one week. You could also still expect to get away with not having to pay any seller subsidy, particularly if you hire a skilled listing agent. Hire buyer demand still exists, bringing multiple offers that strongly favor sellers.

The next Braemar Piggyback Quarterly will be out in July. Until then, if you want to investigate the sale of your Braemar home, get in touch with me for a confidential consultation. Waiting for the market to crash to make a move may have you waiting for years. Despite rising interest rates, buyer demand is strong and expected to stay that way. Having a full-time professional on your side is the only way to get the best results, no matter 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 Piggyback Quarterly: October-December 2021 (4th Quarter)

Braemar Piggyback Quarterly: October-December 2021 (4th Quarter)

One day down, three-hundred sixty four to go in 2022. What 2022 will bring to our Braemar real estate market is likely nothing dramatic. The best idea of what is ahead always comes from looking at where we have been. In this edition of the Braemar Piggyback Quarterly, the final quarter of 2021 is examined and the entire past year broken into six and twelve month data points. Before we begin, allow me to explain what constitutes a Piggyback townhouse in our neighborhood. Braemar Piggyback townhouses are attached side-to\-side and back-to-back. They are also the only two car garage townhouses in our neighborhood.

During the last three months of 2021, there were two Braemar Piggyback townhouses that sold. The details of those sales are listed below:

From the details above, we see that both Piggyback townhouses that sold were end units and had the same number of bedrooms and bathrooms. They were both also on the market for only a matter of days. From the description, it seems that Sidlaw Hills was a much more updated home. However, one of the most troubling things about the description to me as a listing professional are the agent remarks that the sellers may never have seen. The first three words imply desperation. “Seller says sell.” Is it any wonder the seller ended up giving closing cost help despite having a superior home? Perhaps the agent feared marketing during the end of the year, a troubling misconception that too many agents carry around. I certainly understand the strength of the yearend selling season. Dochart Sound, meanwhile, was very plain with outdated finishes. Though it lack professional photos and staging, it did appear clean and well kept.

Taking these fourth quarter sales and combining them with the entire year’s worth of Piggyback home sales, the six and twelve month data points are updated as see below:

Starting in the sold price column, we see that the six month average and six month median sold prices are well above their respective twelve month sold prices. The rate of increase, however, is slowing up a bit since last report. This is something I expect to see continue as we move through 2022.

Seller subsidy shows more closing cost help given in the six month average compared to the twelve month average. However, with both the six and twelve month median seller subsidy values being at zero, we find that more than half of Braemar Piggyback townhouse sellers gave no closing cost help in both time frames.

Finally, days on market shows an uptick in marketing time in both six month values compared to their respective twelve month values. Certainly nothing to be concerned about with the values in the table being single digits down the line.

If you placed your Braemar Piggyback townhouse 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 seller subsidy. However, as the buyer frenzy calms down, you are more likely to see home inspection contingencies in your offer(s.)

The next Braemar Piggyback Quarterly will be out in April. Until then, if you think 2022 is the year you want to make a move, it is never too early to enage the services of a local professional. Get in touch with me and find out how my listing preparation advice, coupled with professional marketing, will bring buyer enthusiasm to the forefront in your home sale. That’s how sellers, no matter the market, get the absolute max the market will bear when they sell their largest asset. 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 Piggyback Quarterly: July-September 2021 (3rd Quarter)

Braemar Piggyback Quarterly: July-September 2021 (3rd Quarter)

It is time for another Braemar Piggyback Quarterly. This property value report details sales of the Piggyback townhouses in our neighborhood which are those have a two car garage and are attached side to side and back to back. Let’s get right to the latest and see where values are heading.

There was only one Braemar Piggyback townhouse that sold in the third quarter. The details are listed below:

The summer was certainly not as frenzied as the beginning of 2021. Nonetheless, here we are looking at a $30,000 over list price sale with no seller subsidy. That’s great for the third quarter. Taking this sale, which represents the entire third quarter, and combining it with the previous three quarters worth of Braemar Piggyback townhouse sales the six and twelve month data points I monitor are updated as seen below.

Starting with the sold price column, we see both the six month average and six month median sold prices are substantially higher than their respective twelve month values. Braemar Piggyback townhouses are continuing to gain in value. The growth rate from one year to six months is unchanged compared to last report at 4% median growth. However, the average growth has slowed from 6% to 3% this report. Growth is growth.

Seller subsidy remains at zero down the column. Not one seller in the past year has given any closing cost assistance to a buyer. This is definitely a sign that our seller’s market continues.

Days on market is another sign the seller’s market continues. All but the six month median marketing time noted above are at five days. The six month median marketing time is only one day longer at six days. Braemar Piggyback townhouses are certainly enjoying the seller’s market.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it to be under contrat in about a week. You could also expect to give nothing in closing cost help.

The next Braemar Piggyback Quarterly will be out in the New Year. Until then, if the need arises to sell your Braemar Piggyback townhouse, get in touch wth me to find out how elevating buyer enthusiasm through professional marketing will max your profit. Professional marketing starts with hiring a full-time, local agent. 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 Piggyback Quarterly: April-June 2021 (2nd Quarter)

Braemar Piggyback Quarterly: April-June 2021 (2nd Quarter)

Some dark clouds mid afternoon have given way to some gorgeous sunlight on this July evening in Braemar. It is odd to get used to evenings with full sunlight, thanks to daylight saving time. Another thing that has been hard to get used to is the crazy seller’s market that Braemar has been experiencing.

In this edition of the Braemar Piggyback Quarterly, I will look back at the sales that happened of the back-to-back townhouses with two car garages that sold in our neighborhood. I will also provide six and twelve month data points, showing us what the market has done in the shorter term.

For starters, there were five Braemar Piggyback townhouses that sold in the second quarter. Final sold prices ranged from $390,000 to $430,000 and are detailed below:

Taking these five sales and combining them with the previous three quarters of Braemar Piggyback townhouse sales, the six and twelve month values are updated as reflected below:

Starting in the sold price column, seeing both the six month average and six month median sold prices higher than their respective twelve month counterparts means that Braemar Piggyback townhouses are continuing to increased in value. Substantial growth in property values has become normal with the outrageous buyer demand and lack of inventory.

Seller subsidy is the column where we learn how much closing cost help buyers were able to negotiate from sellers. Down the line all values are in agreement at ZERO. Buyers facing multiple offer situations are having to come forth with strong offers with little to no requests of the seller. Seller subsidy requests are extremely rare these days.

Days on market is single digits down the line. The only movement seems to be in the six month average shrinking one day from the twelve month average. Piggyback townhomes are selling fast.

If you placed your Braemar Piggyback townhouse 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 closing cost help.

The next Braemar Piggyback Quarterly will be out in October. Until then, when the time comes to sell your Bramear home, no matter what the market conditions are, the key to getting the maximum amount of the market is creating buyer enthusiasm. That is done with proper listing preparation and professional marketing. My Braemar sellers have been reaping the rewards of both for years. Get in touch with me and I’ll do the same 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 Piggyback Quarterly: January-March 2021 (1st Quarter)

Braemar Piggyback Quarterly: January-March 2021 (1st Quarter)

What a gorgeous Saturday to begin the month of May. This Braemar Piggyback Quarterly was supposed to be out in April, but the real estate market has been so slammed I had a hard time coming up for air. Today is a great day to do just that and bring you up to speed on the Braemar Piggyback market. Before we begin, it is useful to inform you what constitutes a Braemar Piggyback townhouse. They are attached back to back and side to side and are the only townhouses in Braemar with two car garages.

During the first quarter, three Braemar Piggyback townhouses sold. The details of those sales are listed below:

Not very common to see two exact same list prices two months apart, yielding the exact same sold prices. Taking these sales and combining them with the previous three quarters of Braemar Piggyback townhouse sales, our six and twelve month data points are updated as follows:

Starting with the sold price column, we see generous increases in both six month average and six month sold prices compared to their respective twelve month values. This means that Braemar Piggyback townhouses are continuing to gain in value. Exactly what we would expect to see in a seller’s market.

The seller subsidy column is where we find out how much closing cost help Braemar buyers were able to negotiate from their sellers. I am not at all surprised to see both the six month average and six month median seller subsidy figures at zero. If things keep up at the pace they have been, that twelve month average will be zero before too long. To compete in multiple offer scenarios, Braemar buyers are having to forego a lot of concessions and contingencies just to be chosen.

Days on market in the six month average and six month median are the same at five days. Both are improvements over their twelve month counterparts, but the average value is the one that got cut in half in the most recent average. Braemar Piggyback townhouses are selling fast!

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it to be under contract in less than a week. You could also expect very clean offers from buyers who will be highly unlikely to request any closing cost help.

The next Braemar Piggyback Quarterly will be out in July. Until then, if you have been considering the sale of your Braemar home, get in touch with me to find out how being prepared and professionally marketed gets you even more than you could have imagined in a seller’s 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 Piggyback Quarterly: October-December 2020 (4th Quarter)

Braemar Piggyback Quarterly: October-December 2020 (4th Quarter)

As this Saturday work day draws to a close for this Braemar Real Estate Agent, I am bringing you another property value update. This installment is the Braemar Piggyback Quarterly and focuses on the fourth quarter sales of the two car garage townhouses in our neighborhood that are attached back to back and side to side. For the record, these are the only two car garage townhouses in our Braemar neighborhood, so if you have a two car garage townhouse, this report is for you.

During the last three months of 2020 there were two Braemar Piggyback townhouses that sold. The details of those sales are listed below:

Taking these sales from the fourth quarter and combining them with the entire year’s worth of Braemar Piggyback townhouse sales from 2020, our six and twelve month data points are updated as follows:

To start, the sold price column shows a very small increase in average value from the twelve month sold price to the six month sold price. On the other hand, an even smaller decrease is seen going from the twelve month median sold price to the six month median sold price. Had it not been for the most recent Braemar Piggyback townhouse sale of $370,000, I would be the first to say this is what market value stability looks like. However, it seems that we’re likely to see these two car garage townhouses in Braemar continue to push up in value as we move into 2021.

The seller subsidy column reveals a great trend for Braemar Piggyback townhouse sellers. The six month average seller subsidy (closing cost help to buyers) is at zero, down from over $3,400 average seller subsidy in the twelve month average. That means the latter half of the year, as buyers were competing for the limited inventory available, fewer asked for closing cost help. The fact that the six month median and twelve month median seller subsidy numbers are the same at zero tells us that in both of these time periods, more than half of the Braemar Piggyback townhouse sellers gave nothing in closing cost help. Even our most recent sales from the fourth quarter have zero seller subsidy.

Finally, we come to the days on market column. The already very reasonable eleven days on market found in the twelve month average shrunk to six days in the six month average. Meanwhile, the difference in the twelve month median vs. the six month median was only one day less of marketing time in the recent sales. Our market is gobbling up properties very quickly as there is hardly anything on the market.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it to be under contract in less than one week. You could also expect that would not have to give any seller subsidy at all.

The next Braemar Piggyback Quarterly will be out in April. Until then, know that Braemar homes are peaking in value this year. The year 2021 has been predicted to be one more year of low inventory and high buyer demand. We won’t know when we’ve hit the market peak until values start their decline, so if you’ve been waiting to get top dollar for your Braemar home, get in with me and let’s take a look at what the market conditions mean in a potential sale for you. Since 2005, No One Knows Braemar Better!

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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 Piggyback Quarterly: July-September (3rd Quarter)

Braemar Piggyback Quarterly: July-September (3rd Quarter)

What a gorgeous fall day. The colors are really starting to pop in our neighborhood. The other thing popping, of course, is our local real estate market. Today I present to you the Braemar Piggyback Quarterly, covering activity from the third quarter. Piggyback townhouses in our neighborhood are characterized by lack of a back yard, as they are attached side-to-side and back-to-back. They also are the only townhouses in Braemar to have two car garages.

During the third quarter, there were four Braemar Piggyback townhouses that sold. Coincidentally, they all sold in the month of July. The details of those four sales are listed below:

While two of the sales were about $355,000, there was one a lot more and one that sold for a lot less. You can probably discern from the information provided that the high sale was the only end unit that sold. The low sale was only a two bedroom townhouse. Taking all of these sales and combining them with the previous three quarters to give us a complete twelve months’ worth of data, our six and twelve month data points are updated as reflected below:

Starting with the sold price column we see that the six month average sold price is a bit higher than than the twelve month average sold price. That’s a smidge more than a 1% gain in average value in the short term average. Meanwhile, the six month median is only $500 above the twelve month median sold price. Any direction upward is good.

The seller subsidy column is where we get to see how much closing cost help Braemar Piggyback townhouse sellers gave to buyers. Of course, in the four most recent sales, no Braemar Piggyback townhouse seller gave ANY closing cost help. However, the average seller subsidy, while lower in the six month value compared to the twelve month value, still shows that Braemar Piggyback sellers had been giving closing cost help in the second quarter and even earlier than that. The six month median and twelve month median seller subsidy values are identical at $5,000. That means that in both time periods, more than half the sellers gave closing cost. If our third quarter sales are any indication of what may be coming up in the fourth quarter, I may expect to see zero in the six month median at a minimum next report.

Days on market, or as I like to refer it–marketing time, was six days faster when comparing the six month average marketing time to the twelve month average marketing time. The six month median marketing time was only three days faster than the twelve month median. This means Braemar Piggyback townhomes are selling even faster.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect that it would be under contract in no more than a week or less than two weeks. You could also expect that if you needed to give seller subsidy, you may only have to give about 1.5% of the sales price.

The next Braemar Piggyback Quarterly will be out in January. Until then, if the need arises to sell your Breamar Piggyback townhouse, give me a call for a free market analysis. While any home can sell in our current market with low inventory and high demand, not every home gets top dollar. Top dollar is only achieved with top notch marketing, negotiation and appraisal preparation. If top dollar is important when you sell, I’m your gal. 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 Piggyback Quarterly: April-June 2020 (2nd Quarter)

Braemar Piggyback Quarterly: April-June 2020 (2nd Quarter)

Another day, another Braemar market report.  Today’s report is the Braemar Piggyback Quarterly.  This it the report that focuses on the two car garage townhouses that are not only attached on the sides, but also in the back.  Hence the name Piggyback townhouse. They are the only two car garage townhouses in our neighborhood.

During the second quarter there were five Piggyback townhouses that sold.  Sold prices ranged from $347,100 to $360,000.  Details of those five sales are listed below.

Taking these second quarter sales and combining them with the previous three quarters worth of Piggyback townhouse sales, we get an entire year’s worth of data.  The updated six and twelve month data points from that data pool are shown below.

Starting with the sold price column, we see both the six month average and six month median sold prices are above their respective twelve month values.  This means Braemar Piggyback townhouses are still moving up in value.

The seller subsidy column is where we see how much closing cost assistance sellers have been giving buyers.  Though only down by a little, both the six month seller subsidy values are lower than their twelve month counterparts.  This means sellers have been giving a bit less in closing cost help overall.

Finally, when it comes to marketing time, we see that the six month average days on market is nearly a week shorter than the twelve month average days on market.  And even though just by a day, the six month median days on market is shorter than the twelve month median.  The pace of our market means quick sales for sellers with homes priced right and ready to move in.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it would be under contract in about two weeks.  You could also expect to pay about 1.5% to 2% of the sales price in seller subsidy.

The next Braemar Piggyback Quarterly will be out in October.  Until, if the time has come to sell your Braemar Piggyback townhouse, give me a call for a free market analysis. 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 Piggyback Quarterly: January-March 2020 (1st Quarter)

Braemar Piggyback Quarterly: January-March 2020 (1st Quarter)

Being well into April, it is time to take a look back at the first quarter of the year and see what happened in the Braemar real estate market with respect to Piggyback townhouses.  If you are not familiar with what a Braemar Piggyback townhouse is, they are three level townhouses, completely above grade, with attached two car garages.  The townhouses themselves are attached not just on the sides like traditional townhouses, but also along their back wall to another row of townhouses.  What they lack in not having a back yard, they make up for the large bedroom sizes.

There were two Braemar Piggyback townhouses that sold during the first quarter.  Details of those sales are listed below:

Taking these two sales and combining them with the previous three quarters to make an entire year’s worth of sales, we get the following updated six and twelve month data points.

Starting with the sold column, we see conflicting trends.  The six month average sold price is a tad higher than the twelve month average sold price.  That would indicate values pushing up in value.  The six month median sold price, however, has fallen below the twelve month median sold price.  This would indicate values falling a bit.  Taking a quick peek at the two sales from the first quarter, we have one above the six month data points and one well below.  That doesn’t help clear this up.  Since neither the change up or down is a big one, it is best to proclaim Piggyback townhouse values stable.

Next we move to seller subsidy, also known as closing cost help to buyer.  There is a clear trend here.  Both the six month average and six month median sold seller subsidy values are higher than their twelve month respective values.  This means buyers have been asking for, and receiving, higher amounts of closing cost assistance in the more recent past.

Finally, days on market reveals a definite trend as well.  Both the six month average and six month median marketing times are longer than the twelve month average and twelve month median marketing times.  This means it has been taking longer to sell Braemar Piggyback townhouses.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it to be under contract in two to four weeks.  You could also to pay out about 2% of the sales price in seller subsidy.

We have yet to see how the measures to curb the spread of COVID will impact our Braemar real estate market.  By the next Braemar Piggyback Quarterly, which will be out in July, we will see what effect, if any our current situation is having on values.  Until then, if you want to know how to safely sell your Braemar home, while maximizing profit, hiring the right real estate agent has never been more important.  Give me a call and let’s talk.  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