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

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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: January-March 2017 (1st Quarter)

Braemar Condo Quarterly:  January-March 2017 (1st Quarter)

If April showers bring May flowers, May is going to be very colorful in Braemar.  It’s been a pretty dreary stretch, but I’ll take this rainy Monday to catch you up on Braemar condo values for the first quarter.  This report, however, we’re going to do things a little bit differently to give you a more accurate view of what direction values are going by incorporating rolling six month and twelve month figures.

There was only one sale of a Braemar condo in the first quarter.  It happened on March 24th.  It was an end unit townhouse with no garage, located at 10056 Moxleys Ford Lane,  that listed for $264,900 and sold for $260,000.  It was under contract in only 3 days and gave $5,000 in seller subsidy (a.k.a. closing cost help.)  So how does that compare to the rolling six month and twelve month figures?

The sales price is higher than the average and median sales in both time frames.  So it is safe to say this sale is the start of seeing prices lift.  This first quarter sale is included in the six month and twelve month figures.  You can see it is already lifting values.  The median sales price in both instances in still $250,000.  However, the average sales price is over $3,000 higher in the six month value vs. the twelve month value.

If you placed your Braemar condo on the market, priced to current conditions, you could expect it to be under contract in 6 to 21 days, based on the marketing time frames we are seeing in those six month values.  You could also expect to pay around $5,000 in closing cost help.  You would be very fortunate to pay less than that.

The next Braemar Condo Quarterly will be out in July.  Until then, when you are ready to sell your Braemar townhouse condo, give me a call and let’s take a look at current market indicators.  Since 2005, No One Knows Braemar Bettter!

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 

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

Braemar Condo Quarterly: April-June 2016

Braemar Condo Quarterly:  April-June 2016

The second quarter of the year tends to be where we see the action in Braemar condo sales.  Let’s take a look back at the second quarter of 2016 and see how many Braemar Condo in Bristow, VAsales of Braemar condos we had and what the means to our average value.

Before we begin, you may not realize that Braemar actually has condos.  They look like townhouses.  Condo simply refers to a type of ownerships which is different than any other type of home in the community.  The sub-association that controls the Braemar condos is Barrhill at Inverness Village. If you live in that sub-association and pay dues to Barrhill, you own a condo.

Just like the second quarter of 2015, there were three sales of Braemar condos between April and June this year.  And although there was only one sale in the first quarter of 2016, it was for the same sales price of $250,000 that we have seen for quite some time now.  Well, that same sold price of $250,000 is exactly what two of the three sales for the second quarter of 2016 were.  However, there was one that sold for $215,000.  That brings the average sales price for the second quarter of 2016 to $238,333.  That’s a decrease of average market value of over 4.5% since last report and last year.  Not to worry.  I’ve seen the condos that are currently under contract in Braemar.  That low average won’t be with us long.

Braemar Condo Quarterly:  April-June 2016

If you placed your Braemar condo on the market, priced to current conditions, you could expect it to be be under contract in a little less than two months.  I think the third quarter report will see a decrease in that marketing time.  You could also expect to pay an average of about 2.5% of the sales price in closing cost help to the buyer.

The next Braemar Condo Quarterly will be out in October and should have quite a few Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037sales to report.  Until then, when you are ready to sell your Braemar condo, give me a call for a free market analysis.  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

Braemar Condo Quarterly: January-March 2016

Braemar Condo Quarterly:  January-March 2016

The first quarter of 2016 is behind us, which means it is time to look back at the first three months of the year and see what happened to Braemar Condo values.  If you weren’t aware the Braemar had condos, we do.  They look like townhouses.  Some have Braemar Condogarages, others do not.   “Condo” simply refers to the type of ownership, which is far different from any other type of home in the community.  For instance, the physical structure of a condo is insured by the condo association, not a personal home owner’s insurance policy.

You know you live in a Braemar condo if you pay condo fees to Barrhill at Inverness Village.  An easier way for folks who would like to be certain when they are looking at a Braemar condo is to identify them by where they are located.  Braemar condos are only found on the following streets:  Caithness Circle, Moxleys Ford Lane, Lord Lovat Way and Heykens Lane.

Unfortunately, there was only one Braemar condo that sold in the first quarter of 2016.  It listed for $250,000 and sold for $247,500.  If we compared that value to the average value last report, we see a 2% decrease in value.  However if compare to the low sales price from last report, we see an increase of 1%.  comparing to last year’s report we still see only one sale and that one was a little more in value–$249,900.  That would be a decrease of 1% in value over one year if all things were equal in those condos.  For now, I think it is safe to say that Braemar condo values are stable.

Braemar Condo Quarterly: Janaury-March 2016

If you placed your Braemar condo on the market now, priced to current conditions, this sale from the first quarter indicates that you could expect it to be under contract in just over two months.  Considering at the time of this report there are three Braemar condos under contract with an average marketing time of 85 days, that would be great.  The reported sale in this report also suggests that you could expect to give 2.5% of the sales price in closing cost help to your buyer.

The next Braemar Condo Quarterly will be out in July and should have quite a few sales to Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037report.  Until then, when you are ready to sell your Braemar condo, give me a call for a free market analysis.  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