Braemar Condo Quarterly: July-September 2018 (3rd Quarter)

Braemar Condo Quarterly: July-September 2018 (3rd Quarter)

Even though we are nearly to the end of October, I have yet to the see the flash of fall foliage in Braemar.  Maybe the warm temperatures that we thought would never end delayed the color change in the deciduous leaves.  Eventually we’ll see those brilliant fall colors, but right now, it is time for another Braemar Condo Quarterly.

There were three condos in Braemar that sold between July and September.  Details of those sales are detailed below:

When we take these sales from the third quarter of 2018 and put them in with the data collected on other condo sales as far back as the fourth quarter of 2017, we are able to parse the six month and twelve month data points.  When we do, this is what we get.

A good indicator for increasing home values is seeing higher sold prices in the six month average and median when compared to the twelve month average and median sold prices.  Clearly, we are seeing that here, which means Braemar condos are still increasing in value.

Seller subsidy (closing cost assistance to buyers) is changed a little in the six month average and median compared to the twelve month values.  This is something that sellers like to see.  Buyers may be asking for less in closing cost help to be more competitive when attempting to purchase these condo.

Finally, there is the days on market (marketing time) to compare.  Six month average and median marketing time is higher than the twelve month average and median.  This means that lately, it has been taking longer to sell Braemar condos.  Still, less than three weeks to sell is not as bad as it could be.

If you placed your Braemar condo 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 pay $3,400 to $4,000 in closing cost help.

The next Braemar Condo Quarterly will be out in January.  Until then, when the time comes for you to sell your Braemar condo, 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®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

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

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

Pardon me for not getting on this earlier, but the 4th of July holiday being in the middle of the week made things a little crazy.  Typically, there isn’t a lot happening in the month of July in our local real estate market.  However, this month started out with a flash of activity.  It has left this Top Braemar Real Estate Agent feeling a bit confused as to what day it is.  Never a good feeling when it seems you have two Mondays in one week.

Enough of that!  Let’s get  to this edition of the Braemar Condo Quarterly, which covers condos in Braemar sold between April and June.  There were two Braemar condos that sold in the second quarter.  The details of those sales are below:

When we take these sales and combine them with our rolling twelve month collection of Braemar condo sales, here’s what we see in our six and twelve month data points:

While there is not much notable difference between the six month to twelve month sold prices and marketing time, there is a nice drop in seller subsidy from the twelve month average and median values to the six month average and median values.  That means more sales are happening in the short term with buyers requesting, or accepting, less money in closing cost assistance from sellers.  Good news for sellers!  Of course, that seller subsidy shrinking is typical in a seller’s market.  And judging from the days on market numbers being less than a week across the six and twelve month data points, we are most certainly in a seller’s market when it comes to Braemar condos.

What’s better to see is that the two most recent sales have sold prices above the six month median and average values.  If that continues in the third quarter we will see an increase reflected in the six month average and median sold prices compared to the twelve month average and median values.  That would mean Braemar condo prices are increasing.  As it stands, this report still shows longer term stable value.

If you placed your Braemar condo on the market, priced to current conditions, this report sets the expectation that your condo would be under contract in less than a week.  You could also reasonably expect that you would pay no more than one percent of the sales price in closing cost assistance to the buyer.

The next Braemar Condo Quarterly will be out in October.  Until then, if you want to know what your Braemar condo may pull in market value, give me a call.  Since 2005, No One Knows Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

 

 

 

Braemar Condo Quarterly: January-March 2018 (1st Quarter)

Braemar Condo Quarterly: January-March 2018 (1st Quarter)

It finally feels like spring in Braemar.  Yesterday, as I drove out of the community, seeing the trees fill in and the grass greening up rejuvenated my winter weary soul.  In speaking with some perennial flower lovers, I have heard some grumbling that the overnight temps are still too cold to plant, but we are getting there.

Right now, it is time for the Braemar Condo Quarterly.  This report looks back on the first quarter of 2018.  Let’s first take a look at the condos that sold between January and March.

As you can see, there were four Braemar condos that sold in the first quarter.  Each one had a garage and were two bedroom models.  Their sold prices ranged from $231,000 to $265,000.  It’s nice to see that the highest sold price of $265,000 was one that was occurred twice.  None of these condos took more than thirteen days to go under contract.  and the most any of them paid in seller subsidy (closing cost help to the buyer) was $4,500.

When we take these four sales and combine them with the second, third and fourth quarter condo sales, we have the chance to get a good look at the last year’s sales activity for Braemar condos in the shorter term and longer term.

The six month average and median sold prices are both higher than their respective counterparts in the twelve month sold prices.  That means Braemar condos are seeing increase in value.  Meanwhile, there is no real movement up or down in the amount of closing cost help Braemar condo owners are giving in the short term compared to the longer term.  It is great to see that the average marketing time in the last six months has shaved off more than half the amount of time it took to sell a Braemar condo compared to the twelve month average marketing time.

If you placed your Braemar condo on the market, priced to current conditions, you could expect it to be under contract in less than a week, at most two weeks.  You could also expect to pay about $4,000 to $4,5000 in closing cost help.

The next Braemar Condo Quarterly will be out in July.  Until then, if you want to know how our current market conditions have affected your Braemar condo’s value, give me a call.  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 Condo Quarterly: October-December 2017 (4th Quarter)

Braemar Condo Quarterly: October-December 2017 (4th Quarter)

This New Year’s Day I decided to hit the ground running.  Taking the Christmas tree down, and all the holiday decorations, can wait until later.  Right now, it’s time for another Braemar Condo Quarterly report.  This one will look back to the sales that happened in the fourth quarter of 2017.

As it turns out, there were three Braemar condo sales in the fourth quarter.  They are detailed below.

If you’ve been following this report in the recent years, you know that Braemar condo sales don’t go much above $260,000.  In fact, the average and median values have been lingering around $250,000 for literally years.  It was great to see a two bedroom Braemar condo pull a $276,000 sold price.  Even the other sales are a minimum of $260,00, which furthers my belief that off season selling is the way to go.  We are blessed with year round demand  in our area.  Competing with everyone that wants to sell in the spring seems to bring prices down.  The fall sold price are looking way better than what we saw earlier in the year.

Braemar Condo Quarterly (4th Quarter 2017)

When you look at the six month average and median sold prices, you can see that fall flurry of sales has brought a refreshingly higher round of sold prices, compared to the twelve month median and average sold prices.  The seller subsidy (closing cost assistance to buyers,) ticked up in the shorter term values.  The shorter term reveals that Braemar condo market times are under a week, both median and average values.

If you placed your Braemar condo on the market, you could expect it to be under contract in a week.  You could also expect to pay about 2.5% of the sales price in closing cost help to the buyer.

If you’ve been thinking that 2018 may be the time to sell your Braemar condo, call me soon.  Despite the frigid temperatures, Braemar buyers are out shopping now.  If you wait until spring, you are quite likely to find yourself at a disadvantage, competing with more Braemar condos on the market.

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 Condo Quarterly: April-June 2017 (2nd Quarter)

Braemar Condo Quarterly: April-June 2017 (2nd Quarter)

We are well into summer in Braemar and I am sure that folks in the condos are happy with their proximity to the Iona Sound community pool.  Of course, that is likely with the exception of swim meet mornings when parking around that pool reminds you of a big box store on Black Friday.  There are pluses and minuses to everything in life, promixity to the community pool used by the Braemar Blasters for their swim meets included.

Being well into summer means that I can share the second quarter Braemar Condo Quarterly data with you now.  Let’s get right to it.  There were three sales of Braemar condos between the beginning of April and end of June.  The sales are listed in detail below, and, oddly, it seems having a garage is not indicative of getting a higher price.

Homes that are move in ready garnered the highest prices, which were $254,000 and $255,000.  Move in ready is doing the things sellers often want to put on buyers to do.  Carpet.  Paint.  You know the drill.  Rule of thumb is if it’s a pain in the butt for you to do it, buyers will likely punish you financially beyond the cost of the actual improvements because it is no less a pain in the butt.  And many buyers will shop until they find the seller that delivers a move in ready home they want.

It was never more evident that the sale at 12193 Caithness that listed for $255,000 and offered carpet and paint after the tenant moved out.  Well, first impressions don’t take the promise of carpet and paint in mind.  While that list price was right on target for other sales happening and their planned improvements, the first impression brought in a final sales price of $240,000.  It is worth it to carpet and paint before listing.  It helps you appeal to the broadest range of buyers when you neutralize your color palettes and give them that fresh new carpet smell when they walk in.

When we take a six month snapshot and a twelve month snapshot of values, what do we find?  The six month average and median sold prices are higher than the twelve month average and median sold prices.  Values appear to be inching up.  Seller subsidy, on average, is higher than it had been twelve months ago.  And median days on the market are higher than they were twelve months ago.

If you placed your Braemar condo on the market, priced to current market conditions, you could reasonably expect to be under contract in about three weeks.  You could also expect a buyer to ask for about $5,000 in closing cost help.

The next Braemar Condo Quarterly will be out in October and will update you on any changes the third quarter brings.  Until then, if you want to know how these sales and the current market conditions are affecting your Braemar condo’s value, give me a call.  My greatest satisfaction in my work is helping my Braemar neighbors.  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

Braemar Condo Quarterly: October-December 2016

Braemar Condo Quarterly: October-December 2016

Braemar CondoHappy New Year!  As we begin 2017, naturally this Braemar Real Estate Agent is taking the time to look back at the end of 2016 and see how Braemar property values fared.  Right now, I will take you through the fourth quarter sales of Braemar condos.

Unlike the third quarter of 2016, which saw only one Braemar condo sell, the fourth quarter had five sales!  That’s pretty incredible.  Even the fourth quarter of 2015 only had two sales.   The low sales price of $237,500 was lower than we saw a year ago, but the high sales price was higher than what we saw last year.  When it comes to the averages, the average sales price for the fourth quarter of 2016 was down a little over $4,000 since last year.  All in all, Braemar condo sales prices have remained fairly stable for the last couple years.

Braemar Condo Quarterly, 4th Quarter 2016

If you placed your Braemar condo on the market, priced to current conditions, you could expect it to be under contract in an average of 25 days.  That’s a longer than we have been seeing, but it is still not a long time to be on the market.  You could also expect Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037to pay an average of over 1.5% of the sales price in closing cost help for the buyer.  That’s unchanged since last year.

The next Braemar Condo Quarterly, will be out in April and focus on the first quarter of 2017.  Until then, when it is time for you to sell your Braemar condo, 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.comwww.UncompromisingValues.com

 

Statistics compiled using MRIS (Metropolitan Regional Information Services)

 

Braemar Condo Quarterly: July-September 2016

Braemar Condo Quarterly:  July-September 2016

Braemar CondoWe are well into fall in Braemar.  Driving to meet an appraiser in the neighborhood today, and admiring the brilliant foliage, I suddenly remembered that I had not prepared my Braemar third quarter market reports.  Yikes!  So without further delay, let’s get it to it in this edition of the Braemar Condo Quarterly.

The third quarter of 2016 was definitely slower than the third quarter of 2015 when it came to Braemar condo sales.  Where six had sold during the third quarter of 2015, there was only one Braemar condo sale in the third quarter of 2016.  The good news is that the only sale we are reporting here was for $255,000.  That happened to be the high sold price from last year’s report.  The highest price last quarter was $250,000.  So even though it’s only one sale, it’s not bad news.

Braemar Condo Quarterly:  July-September 2016

Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037If you placed your Braemar condo on the market, priced to current conditions, you could expect it to be under contract in a little less than two weeks.  You may also not have to pay any closing cost help to the buyer.

The next Braemar Condo Quarterly, will be out in January and focus on the fourth quarter of 2016,  Until then, when it is time for you to sell your Braemar condo, give me a call for a free market analyis.  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.comwww.UncompromisingValues.com