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 Reflection Quarterly: April-June 2018 (2nd Quarter)

Braemar Reflection Quarterly: April-June 2018 (2nd Quarter)

From the looks of the forecast for today, it seems as though we are going to have a really gorgeous summer day.  Not too hot and not too humid.  Hope you get out to enjoy something fun.  Maybe some time at one of our two community pools in Braemar.  Or a game of tennis at the under-utilized tennis courts.  For me, the outdoor fun can start after I type up this latest edition of the Braemar Reflection Quarterly.  It focuses on sales of the semi-attached single family homes on Tarvie Circle.

In the second quarter of 2018, there was only one Reflection home that sold.  Details are below:

When we take this one sale and add It to our rolling twelve months of Reflection home sales, here’s what we get:

There is a lot of good news when we look at the six month data points and compare then with our twelve month data points.  For starters, the six month average and median sold prices are higher then the twelve month average and median sold prices.  The seller subsidy (closing cost help to buyers) is lower in the six month average and median values compared to the twelve month average and median seller subsidy.  Finally, the marketing time (days on market) is one week in the six month average and median data points, which is slightly improved from the twelve month median, but drastically improved from the twelve month average.

If you placed your Braemar Reflection home on the market, priced to current conditions, you could reasonably expect it to be under contract in about a week.  you could also expect to give about 1% of the sales price in closing cost help to your buyer.

The next Braemar Reflection Quarterly will be out in October.  Until then, if you want to know how the current market conditions are affecting your home’s value, give me a call at 703-402-0037.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

 

Braemar Property Value Report: September-October 2016 (Courtyard Series)

Braemar Property Value Report:  September-October 2016 (Courtyard Series)

Leaving my Braemar home today it was a perfectly temperate afternoon.  Temps were in the low seventies.  By the time I got this evening, it was in the mid-forties.  That’s quite a temperature swing when you aren’t prepared.  A short sleeve t-shirt and lightweight jean jacket weren’t cutting it.

Now that I’m nice and toasty in my home office, I can give you the latest market information for Braemar Courtyard Series homes.  If you aren’t familiar, with Braemar’s different home styles, Courtyard homes are one of three different floor plans that share a private courtyard driveway and have very limited outdoor spaces.  Models include the Arlington, Clarendon and Ballston.

There were three Braemar Courtyard homes that sold between September and October.  Two were Ballston models and one was an Arlington.  The sold prices ranged from $371,500 to $399,990.  The average of all three gives us our new average market value for Braemar Courtyard homes of $388,497.  That’s less than a 1/2% decrease since last report and hardly a difference at all since last year.   That is stability in Braemar Courtyard home prices.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in an average of forty-five days.  You could also expect to give an average of 1.5% of the sales price in closing cost assistance for the buyer.

The next Braemar Property Value Report will be out in January and will detail sales from November and December. Until then, when you are ready to sell your Braemar home, 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 REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

Statistics compiled by Chris Ann Cleland, using the MRIS (Metropolitan Regional Information Systems.)

Braemar Property Value Report: May-June 2011 (Heritage Series)

If it’s a hot day in Braemar, you can take refuge in one of the two community pools. And with temps in the 90’s most of July and August, I sure hope you’ll have time to enjoy some pool time.  Before you dive into the pool, let’s take a quick look at the Braemar real estate market.  This report will focus on the resale activity for Braemar Heritage Series homes for the months of May and June.

 In the event a bit confused about what Heritage Series homes in Braemar are…they are mid-sized single family homes, with attached two car garages and include in the following floor plans:  Exeter, Yardley, Zachary and Waverly.

Just like we saw last report (March-April 2011,) there were only two resales in the Heritage Series.  One Yardley and one Zachery.   The average of their sale prices give us our new average market value of $344,950.  That’s up over 5% since last report.  We’re still seeing a decrease in value of over 10% compared to this time last year, but it is nowhere near the near 30% year to year declines we’ve seen in recent year.  Braemar Heritage home values are coming back up.

If you placed your mid-sized Braemar home on the market, priced to current market conditions, you could expect your home to be under contract in less than two weeks.  You could also expect a Buyer to ask for an average of 2.3% of the sales price in closing cost help. 

The next Braemar Property Value Report will be out in September and will detail sales from July and August.  Until then, if you are thinking of placing your Braemar home on the market and want a more specific idea of your home’s value, I’d be happy to help.  As a full time Bristow real estate agent since 2005 and a Short Sale Agent since 2007, I can help you no matter what your equity position.  And remember, no one knows Braemar better!

Chris Ann Cleland, Associate Broker-Licensed in Virginia, Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com, www.NVARealEstate.net, www.SpeakingofHomes.net