Braemar Reflection Quarterly: July-September 2019 (3rd Quarter)
Bringing up the rear in the Braemar Quarterly property value reports is this one for the Reflection Series. Unfortunately the term “Reflection Series” that was chosen by Brookfield Homes when they named this style of home does nothing to conjure the image of the homes themselves. They are the semi-detached single family homes on Tarvie Circle, attached by the rear load garage in sets of two.
There were no Reflection homes that sold during the third quarter of 2019. However, in dropping the 2018 third quarter sales from the rolling pool of Reflection sales I keep saved in the MLS, I do get a chance to update the six and twelve month value points. That still gives us an idea in the shorter term how things have been going.
Starting with sold price, it is a good thing to see both the six month average and six month median sold prices above their twelve month counterparts. This means that in the most recent sales, Reflection home values were still pushing up.
Seller subsidy (a.k.a. closing cost assistance from sellers to buyers) shows a good trend, and frankly, one that is inconsistent with what I have noticed in the majority of Braemar Property Value Reports. The six month seller subsidy values are below the twelve month seller subsidy values. Given that this is inconsistent with rising seller subsidy elsewhere in our neighborhood, and with no recent sales to add any insight to this, I would not get my hopes up that seller subsidy is falling.
Days on market shows another good trend, but this one happens to be consistent with what I have seen in another Braemar Property Value Reports I have prepared. The six month marketing times are shorter than the twelve month marketing times. This means Reflection homes have been selling faster.
If you placed your Braemar Reflection home on the market, priced to current conditions, you could expect to have it under contract in under two weeks. You could also expect to pay out about 1.5% of the sales price in closing cost assistance to your buyer.
The next Braemar Reflection Quarterly will be out in January. Until then, I wish you every happiness as you celebrate the year end holidays. As always, when the time comes to sell your Braemar home, give me a call for the most accurate assessment of your home’s value and top notch professional marketing to get the most the market will allow at any given time. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate