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

 

 

 

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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

Braemar Property Value Report: May-June 2018 (Courtyard Series)

Braemar Property Value Report: May-June 2018 (Courtyard Series)

The one thing about the rainy and cloudy days we have been having in Bristow is that the typical soaring July temperatures are not soaring at all.  I think I saw eighty-four degrees on my thermometer today.  While I’m not a fan of torrential rain or cloudy, stormy days, I’ll take the cool down in temps.

Rainy days are always good days for this Top Braemar Listing Agent to share with you my Braemar Property Value Reports.  This particular report will focus on sales in the Courtyard Series homes.  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.

Like many reports in the last thirteen years, there were no Courtyard home sales during our reporting time frame.  Thankfully, because I have been employing a different method of tracking value, we still have an updated look at what is happening in the short term (six months) compared to the longer term (twelve months.)  Our updated figures, dropping the sales from May and June last year, look like this:

Looking at the six month average and median sold prices compared to the twelve month average and median sold prices, we see a slight drop in values.  Not to worry.  The drop is very minimal.  The six month average seller subsidy (closing cost help to buyers) is higher than the twelve month average seller subsidy.  Again, not to worry.  The six and twelve month median seller subsidy figures are identical.  Meanwhile, days on market is practically the same in the six month average and twelve month average.  The six and twelve month median days on market is exactly the same.  This is stability for 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 about thirty days.  You could also expect to pay about 2.5% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in September.  Until then, if you have been considering the sale of your Braemar home, don’t count out the fall market.  It’s what I call our second spring market.  Want to know more about that, or the specific value of your Braemar home in our current market, 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: March-April 2018 (Courtyard Series)

Braemar Property Value Report: March-April 2018 (Courtyard Series)

Another dreary day means another perfect opportunity to share the latest information on Braemar home values.  Today’s Braemar Property Value Report will focus on Courtyard homes.  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, Clarendon and Ballston.

There were two Braemar Courtyard homes that sold between March and April.  The details of those sale are below:

Taking these two sales and adding them to the rolling twelve month pool of Braemar Courtyard home sale data, here is what we get:

First of all, the great news is that most recent sales at the top are both ABOVE the six and twelve month average and median sold prices.  That is indicative that will we will be seeing an increase in values.  Right now, comparing our six month average and median sold prices to the twelve month average and median sold prices we see hardly any movement.  Where do see change is that the six month average and median seller subsidy (closing cost assistance to buyer) is up from the twelve month average and median seller subsidy.  Not a trend future Braemar Courtyard home sellers like to see.  Nor is the increase in marketing time in the six month values vs. the twelve month values.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in about one month.  You could also expect to pay three percent of the sales price in closing cost help.

The next Braemar Property Value Report will be out in July.  Until then, if you want to know that the current market conditions mean to your home’s specific 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 Property Value Report: January-February 2018 (Courtyard Series)

Braemar Property Value Report: January-February 2018 (Courtyard Series)

What’s a top Braemar Real Estate Agent do on St. Patrick’s Day?  Prepare another Braemar Property Value Report of course!  Keeping Braemar home owners up to date on property values is what I do…that is, when I am not selling Braemar homes.  Tracking Braemar property values is important and it affects me too as a Braemar home owner.

This particular Braemar Property Value Report focuses on the sales of Courtyard homes in the neighborhood in January and February.  If you don’t know, Courtyard homes are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Clarendon and Ballston.

There were three Braemar Courtyard homes that sold during the first two months of the year.  The details of those sales is listed below.  And if you are wondering why the first sale is highlighted in pink, that is because it was my listing.  It also happened to be the very first sale of the 2018 in Braemar.

Final sold prices of the three sales ranged from $409,900 to $415,000.  I’m very pleased that my listing garnered the highest sold price for this report, lowest marketing time (DOM) and lowest closing cost help (seller subsidy.)

When we put these sales into our rolling six and twelve month values, what we find is that the Braemar Courtyard home market is inching forward.  The increases in average and median sold prices in the six month values compared to the twelve month values are minor, but they are upward activity nonetheless.  Unfortunately, closing cost help and marketing time are increasing as well, and by larger margins.

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 month.  You could also expect to pay 2%-3% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in May.  Until then, if you are looking for the highest possible sales price for your Braemar home, 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 Property Value Report: November-December 2017 (Courtyard Series)

Braemar Property Value Report: November-December 2017 (Courtyard Series)

While bitter cold days are ones I typically like to spend devoted to doing things at my home office, like this Braemar market report, that wasn’t all I was destined to do today.  This devoted Braemar Real Estate Agent was out and about showing property, writing an offer, keeping a deal together for the sale of my own mother’s home and teaching a class to new agents.  Even with all that, I didn’t want to get too behind on my Braemar market updates.  So last task of my day is this report.

This particular Braemar Property Value Report focuses on sales of Courtyard homes.  If you don’t know, Courtyard homes are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Clarendon and Ballston.

There were two Braemar Courtyard homes that sold during the last two months of 2017.  The details of those sales are as follows:

When we take these two sales and put them in with our rolling six and twelve month Courtyard home sale pool, we find some mixed news.  On the one hand, six month median and average sold prices are higher than the twelve month median and average sold prices.  All alone, this would indicate rising prices for sellers.  But we must also look at what’s happened in seller subsidy (closing cost help to buyers.)

The six month average and median seller subsidy is substantially higher than the twelve month average and median seller subsidy.  This means that NET sold prices are likely to be much the same, or maybe a tad lower.  After all, it is what a seller walks away with that matters most.  If a seller gets $419,000, but has to pay $12,000 in closing help, they only walked away with $407,000.

Marketing time (DOM) has also gone up a bit in the short term values compared to the longer term.  That means it is taking a little longer for Braemar Courtyard homes to sell.  Not all that surprising at the end of the year to see this trend up.

If placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in about a month.  You could also expect to pay 2% to nearly 2.5% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in March and will focus on sales from January and February.  I know we’ll already have one sale in there, because I sold it on January 5th.  Until then, they when you are ready to sell your Braemar Courtyard home, 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