Braemar Property Value Report: September-October 2019 (Courtyard Series)

Braemar Property Value Report: September-October 2019 (Courtyard Series)

The holidays are approaching and we’ll be ringing in 2020 before we know it.  Predicting what will happen in our future real estate market involves an examination of what has happened in the more recent past.  Today I am here, yet again, to do exactly that with another Braemar Property Value Report.  This edition features sales of Braemar Courtyard homes during the months of September and October.  Braemar Courtyard homes are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Ballston and Clarendon.

There was only one sale of a Braemar Courtyard home during this two month reporting period...not at all unusual being that Courtyard homes make up such a small percentage of the homes in Braemar.  The details of that sale are listed below.

Even though there was only one sale during our current reporting period, when combined with the entire last twelve months of Braemar Courtyard home sales, the updated six and twelve month value points are where we determine market trends.  Here are our updated average and median values.

Looking first at the sold price column, we see that both the six month average and six month median sold prices are both above their respective twelve month sold prices.  This means that the most recent sales still have Braemar Courtyard homes pushing up in value.

When it comes to seller subsidy (closing cost help to buyers,) what we find is that buyers in the more recent sales (last six months) are getting more in closing cost help than when we average out the entire twelve months of sales.  The only thing encouraging here is that the sale from this current reporting period gave nothing in closing cost help.  Hopefully that is a situation that repeats in upcoming Courtyard homes sales, reversing the increase in seller subsidy trend we are seeing here.

Finally, days on market shows stability in the six month median marketing time to the twelve month median marketing time.  Better news is that the six month average marketing time is less than twelve month average marketing time.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect to be under contract within one to three weeks.  You could also expect to pay bout 2% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in January.  Until then, I wish you every happiness this holiday season.  And always, if the need arises for you to sell your Braemar home, don’t hesitate to give me a call.  No matter the season, I am here to get you the most money from the sale of your home.  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 Property Value Report: July-August 2019 (Courtyard Series)

Braemar Property Value Report: July-August 2019 (Courtyard Series)

Summer is behind us, which means we can take a look back at the Braemar Courtyard home sales for the months of July and August in this edition of the Braemar Property Value Report.  Before we get to it, if you don’t know what defines a Braemar Courtyard home, they are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Ballston and Clarendon.

There were five Braemar Courtyard home sales in the last two months, ranging from $427,000 to $440,000 in final sold price.  The details of those sales are as follows:

Taking these most recent sales and combining them with the entire last twelve months worth of Braemar Courtyard home sales, we get updated six and twelve month data points, which are the indicators that tell us what is happening in the marketplace.  Here are the updated values:

Looking first at the sold price column, it is good to see the six month average sold price is higher than the twelve month average.  The six month median sold price is nearly the same as the twelve month median sold price, but still a tad higher.  Braemar Courtyard home prices are continuing to push up in value.

The seller subsidy column (closing cost assistance to buyers) is not changing much when comparing the six month values to their respective twelve month values.  And the changes do seem to indicate that buyers are requesting, and getting, ever so slightly more in closing cost help in the more recent past.

Finally we come to days on market, or as I like to call it–marketing time.  The six month median and twelve month median are exactly the same.  The better news is that the six month average marketing time is shorter than the the twelve month average marketing time.  This means Braemar Courtyard homes have been selling faster.

If you placed your Braemar Courytard home on the market, priced to current conditions,  you could expect to be under contract and well on you way to settlement in no more than two and a half weeks. You could also expect to pay a little more than 1.5% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in November. Until then, if you are thinking of selling next spring, why not give me a call and learn the benefits of our fall market.  There are plenty of reasons I call fall, our second spring market and I am happy to tell you all about them.  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 Property Value Report: March-April 2019 (Courtyard Series)

Braemar Property Value Report: March-April 2019 (Courtyard Series)

If you are a Courtyard home owner in Braemar and wondering what your property might be worth in the current market, this Braemar Property Value Report is for you.  This particular edition breaks down sales of Braemar Courtyard homes during the months of March and April.  Of course, if you don’t know what defines a Braemar Courtyard home, they are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Ballston and Clarendon.

There were three Braemar Courtyard homes that sold between the beginning of March and end of April.  Their final sold prices ranged from $430,000 to $441,000.  The details of those sales are as follows:

When we take these three sales and combine them with the entirety of the last twelve month’s worth of Braemar Courtyard home sales, our updated six and twelve month data points are as follows:

Starting with the sold price column, it is good news to see both the six month average and median sold prices above their twelve month counterparts.  That means that Braemar Courtyard homes have been gaining value in the last six months.  And looking at the three most recent sales above, you can see they are all above the six month average and median sold prices.  That indicates that the upward trend in Braemar Courtyard home values will continue.

Not all trends in this report are good news for sellers.  In the seller subsidy column we see that both the six month average and median seller subsidy values are higher than their twelve month counterparts.  This means in the last six months of sales, Braemar Courtyard buyers are getting more closing cost assistance.

Finally, we get to day on market.  Please remember, our new MLS is calculating days on market differently than our previous MLS.  The change over happened in November, so until we get to the November/December report this year, we won’t have an apples to apples comparison. Right now, it appears as though it is taking longer for Braemar Courtyard homes to sell when we see the six month marketing times being longer than the twelve month marketing times.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect to be under contract and well on your way to closing in five to seven weeks.  You could also expect to give an average of 1.5% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in July.  Until then, if the sale of your Courtyard home is on the horizon, give me a call for the most accurate 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 Property Value Report: January-February 2019 (Courtyard Series)

Braemar Property Value Report: January-February 2019 (Courtyard Series)

There has been quite a bit of activity in the Braemar Courtyard home market lately.  Some people may think that the first two months of the year are slow in our real estate market, but they probably don’t read my Braemar Property Value Report.

This edition of the Braemar Property Value Report focuses on what’s been happening in the Courtyard homes in our neighborhood.  Braemar Courtyard homes are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Ballston and Clarendon.

During the months of January and February, there were two Braemar Courtyard homes that sold.  Details of those sales are listed below.

Taking these two most recent sales and combining them with the entire last twelve months of Braemar Courtyard home sales, new six and twelve month data points are generated.  This is where we can tell if our market is favoring sellers, buyers or remaining stable.

Looking at sold prices, it is good to see the six month average sold price above the twelve the month sold price.  Meanwhile, the six month median and twelve month median sold prices are identical.  The report seems to indicate increasing values in the average sold price change and stability in the six month median sold price change.  Either way, it is not bad news for Braemar Courtyard home owners.

We see a definite trend when it comes to seller subsidy, also known as a closing cost assistance to buyers.  Both the six month average and median values are higher than the twelve month average and median values.  This means buyers in the market for Braemar Courtyard homes are in need of and requesting more money from the sellers to get into the deal.  If it can get padded into the sales price, as the sale that happened on February 15th did, that’s not a bad thing.

Finally we come to days on market, or as I like to call it, marketing time.  Before we even begin, remember that our MLS changed in November.  And the new MLS stops the marketing clock, not when  home goes under contract, but when the contingencies to the contract are removed.  This is going to make our data here unreliable until the new MLS, at the outcries of agents like me, change their reporting method or we get one year into this..  Not surprising, the marketing time is longer in both the six month average and median values compared to their twelve month counterparts.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement within one or two months.  You could also expect to pay about 1.5% to 2% in closing cost help to the buyer.

The next Braemar Property Value Report will be out in late May.  Until then, when you want to know what your specific Courtyard home is worth in today’s market, give me a call for a free market analysis and the low down on market conditions that are affecting it.  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 Property Value Report: November-December 2018 (Courtyard Series)

Braemar Property Value Report: November-December 2018 (Courtyard Series)

My plan was to get this Braemar Property Value Report out a lot earlier today.  Yet, here I sit at near ten o’clock in the evening typing away.  The best laid plans go to the wayside when you have a sick kitty in the emergency vet.  He’s back home now and stressing over his e-collar, and I’m stressing over him stressing over it.  The logical side of my brain has decided that my stress is misplaced and it’s time to get this report done.  Yay!  A distraction.  Meanwhile, let me just say how wonderful it is that we have Artemis so close to home.

This is the Braemar Property Value Report for Courtyard homes in our neighborhood.   Braemar Courtyard homes are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Ballston and Clarendon.

During the last two months of 2018, there were three Braemar Courtyard homes that sold.  The details of those sales are listed below.

Taking these most recent Courtyard home sales, along with the last year’s worth of Braemar Courtyard home sales, I ran updated six and twelve month data points.  These are what tell us whether our market values are increasing, decreasing or stable.

Sold price is first and foremost to investigate.  The six month average sold price has fallen below the twelve month average sold price.  That is indicative of falling sold prices.  However, the six month median sold price has risen above the twelve month median sold price.  That indicates rising prices.  So which is it?   Slight differences in value in either direction is indicative of stability.

Seller subsidy (closing cost assistance to buyers) has a definite trend.  The six month average and median seller subsidy values are both well below the twelve month average and median values.  That means Braemar Courtyard home owners have been giving less closing cost assistance in the last six months.  Of course, all of the most recent sales have higher seller subsidy that the six month average and median.

Days on market, or marketing time as I like to call it, is one that also shows a definite trend, but I am not sure it is reliable.  In November our region switched to a new MLS system that calculates days on market differently than our former MLS.  As a result of the change, I expect to see marketing time increasing in the six month values as we move through the new year.  Not surprising, the days on market is the six month average and median are both longer than the twelve month average and median values.  Once we have apples to apples comparisons in marketing time, we’ll have more reliable data here.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement withing about two and a half months.  You could also expect to give an average of about 1% of the sales price in closing cost help.

The next Braemar Property Value will be out in late March.  Until then, you can sign up for email delivery of the hardcopy report, which you can save for your records, much like a financial statement.  Just send me an email at ChrisAnn@LNF.com.  Of course, when it is time to sell your Braemar Courtyard home, give me a call for a free market analysis of your specific home’s value.  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 2018 (Courtyard Series)

Braemar Property Value Report: September-October 2018 (Courtyard Series)

A rainy Saturday, post Thanksgiving family gatherings, is a great opportunity for me to get another Braemar Property Value Report together for my fellow Braemarians.  Today’s report focuses on Courtyard home sales in September and October.  If you aren’t familiar with Braemar Courtyard homes, they are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Ballston and Clarendon.

As is sometimes the case, as Braemar Courtyard homes only number 142 homes in the entire Braemar community of over 2,800 homes, there were no sales in our current reporting period.  That doesn’t mean that we don’t have updated data.  Because I keep a rolling store of twelve months of data, I simply dropped the sales from last September and October and updated our six and twelve month data points.  Here’s what we find:

The six month average sold price has dipped below the twelve month average sold price.  That’s not great to see, but the six month median sold price is above the twelve month median sold price.  Hard to see a trend with contradictory information, so we’ll have to wait for more Braemar Courtyard homes to sell in our next report to see which way we are going.  For now, I would call this stable values.

The six and twelve month seller subsidy (closing cost assistance to buyers) is much lower in the six month average and median values compared to the twelve month counterparts.  That’s a great trend if  you are Braemar Courtyard home owner. Not so great if you are a prospective Braemar buyer.

When it comes to days on market, again we see data favoring Braemar Courtyard home owners.  The six month average and median days on market is lower than the twelve month average and median values.  That would indicate Braemar Courtyard homes have been selling faster in the last six months.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in a little over a week to two and a half weeks.  You could also expect to chip in a small amount of money to the buyer in seller subsidy.

The next Braemar Property Value Report will be out in January.  I know we will have some Braemar Courtyard home sales to share.  Until then, if you find yourself considering the sale of your Braemar Courtyard home, give me a call to find the benefits often overlooked in our year end 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 Property Value Report: July-August 2018 (Courtyard Series)

Braemar Property Value Report: July-August 2018 (Courtyard Series)

Are you ready for another Braemar Property Value Report?  Well, ready or not, here we go.  This one details sales activity in for Braemar Courtyard homes during the months of July and August.  Braemar Courtyard homes are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Ballston and Clarendon.

There were four Braemar Courtyard homes that sold during this current reporting period.  That’s a lot of sales to report in the Courtyard home category.  Final sold prices ranged from $350,000 to $430,000.  Details of those sales are below.

The first thing you notice is that one of these sales, the one that closed for $350,000, is way out of line with the other sold prices.  Allow me to fill you in.  The home at 10022 Pentland Hills was a short sale in very poor condition.  It was hard to see the property for the all the trash piled throughout the home.  Sadly, someone was living in those conditions, making it all the more tragic.  It wasn’t a seller that was angry because they were about to lose their home.  As low as that sold price of $350,000 is, it could have been worse.  The property was listed for $300,000.  Better news is that someone purchased the home that will be able to bring it back up to inhabitable condition.  Finally, because we take these sales and put them in a rolling twelve month collection of Courtyard home sales, we won’t see a tremendous fall in value.  In fact, when we calculate those new six and twelve month data points, here is what we find:

While the six month average sold price has dipped slightly below that twelve month average sold price, the six month median sold price is sitting well above the twelve month median.  That’s a more reliable data point with our low $350,000 sale gumming up the averages.  Odds are we will likely never see a home in the condition of that low sold price again.  That means values of Braemar Courtyard homes are still pushing up.

The news gets better when we look at average and median seller subsidy (closing cost assistance to buyers.)  The six month average and median seller subsidy figures are both well below the twelve month average and median seller subsidy numbers.  That means sellers have been giving less closing cost assistance to buyers.

And the final sweet spot of news comes from the days on market column.  Here we find that marketing time in the six month average and median values has also reduced substantially from the twelve month average and median values.  This means Braemar Courtyard homes have also been selling faster.

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 no more than two weeks.  You could also expect to pay only 1% or less of the sales price in closing cost help to a buyer.

The next Braemar Property Value Report will be out in November.  Until then, give me a call when you are thinking of selling your Braemar home.  It is never too early to start talking to a Top Braemar Listing Agent like myself.  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