Braemar Patio Quarterly: January-March 2018 (1st Quarter)
It is time for another Braemar Patio Quarterly, which I know is going to make one of my family members very happy. She happens to own a Braemar Patio home and has been waiting for the latest scoop, With any luck, she is not the only one who will find this market breakdown of the first quarter sales of Braemar Patio homes useful.
If you don’t know what a Braemar Patio home is, they are often referred to as the quads in our community. Each unit is two levels and is attached on the back and side to its neighbor.
There were two Braemar Patio homes that sold in the first three months of 2018. The details of those sales are below:
Maybe you will notice the change added to the details of each Patio home sale. One of the things that makes some patio homes different from others is the fact that one floor plan in particular offers a main level bedroom. You will see that both Patio homes sold in the first quarter have those floor plans as they are marked affirmatively for having a “Main Level BR.” Final sold prices were $325,000 and $340,000.
When we take these sales and add them in with the Braemar Patio homes sold in the second, third and fourth quarters of 2017 we get an entire year’s supply of data. When we parse that data out into six month and twelve month markers, here is what we find:
The six month average and median sold prices are ever so slightly higher than the twelve month average and median sold prices. Any movement forward in the short-term is a good thing. Meanwhile, the seller subsidy (closing cost help to buyers) is heading down. Marketing time has stayed about the same.
If you placed your Braemar Patio home on the market, priced to current conditions, you could expect it to be under contract in about a week. You could also expect to pay about $3,000 in closing cost help, but you may get a motivated enough buyer to not have to pay any.
The next Braemar Patio Quarterly will be out in July. Until then, when you want to know how the most recent sales are affecting your Braemar home’s value, give me a call. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®