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

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

It is time for another Braemar Piggyback Quarterly market report.  In this report, we’ll look back at what happened in the first quarter of 2018 with regard to Braemar Piggyback townhouses.  We’ll also see how values are doing in the last six months and the last year.

If you aren’t familiar with what exactly a Braemar Piggyback townhouse is, allow me to explain.   These townhouses are not only attached on the sides, but along the back too.  They have no back yards, like traditional townhouses, but also have larger bedrooms than a traditional townhouse.  They also have two car garages.

Unfortunately, there were no Piggyback townhouses in Braemar that sold in the first three months of the year.  However, that doesn’t mean we don’t updated data points to investigate. When we drop the first quarter of 2017 from our collection of Braemar Piggyback sales, our six and twelve month average and median values freshen up to look like this:

Generally, I don’t like seeing six month average and median values falling below the twelve month average and median values.  It is an indication that values could be falling.  However, since there weren’t any new sales to throw into this mix from the first quarter of 2018, we’ll have to wait and see what the second quarter brings us.  After all, the majority of Braemar real estate is on the rise, given the lack of inventory and continued, strong buyer demand.

If you did place your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it to be under contract in about three weeks time.  You could also expect to pay $4,000 to $5,000 in seller subsidy (closing cost assistance.)

The next Braemar Piggyback Quarterly will be out in July and will cover activity from the second quarter.  Until then, if you want to get a more specific idea of your Braemar home’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

 

 

 

 

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Braemar Piggyback & Patio Quarterly: October-December 2016

Braemar Piggyback & Patio Quarterly:  October-December 2016

We have officially hit bitter cold winter temperatures.  I was out showing property this afternoon in Marshall, VA and I think I went numb.  When I say I was showing property, I mean land with no heated structure.  At this moment, I am quite content to be sitting in front of my computer, typing another Braemar Piggyback & Patio Quarterly.  or those who aren’t familiar with these types of home styles, Braemar Piggyback Townhouses are attached side-to-side and back-to-back.  While they do not offer back yards, they offer large bedrooms and a two car garage.  Braemar Patio Homes are also known as quads.  Each is attached at the side, back and corner to another Patio Home.  They have two levels, also offering large bedrooms and a modest side yard.

Braemar Piggyback TownhousePIGGYBACK

Unlike the third quarter of 2016 when five Piggyback Townhouses sold in Braemar, only one sold in the fourth quarter of 2016.  That’s one less than sold in the fourth quarter of 2015.  The sales price of our one Piggyback sale was $307,600.  That is higher that average sales prices from last quarter and last year.  However, it is lower than the high sales price last quarter.  We’ll have to see more sales in the first quarter, possibly into the second quarter, to see where values are heading.  My gut tells me they are holding steady.

Braemar Piggyback Values, 4th Quarter 2016

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it to be under contract in 41 days.  You could also expect to pay over 2.5% of the sales price in closing cost help for the buyer.

PATIO

Braemar Patio HomeJust like the fourth quarter of 2015, the fourth quarter of 2016 gives us only one Patio Home sale in Braemar.  There were fives sales in the third quarter of 2016.  The one sale we did have between October and December was for $300,000.  That is lower than the averages of last quarter and last year.  However, it is not lower than the low sales price from last quarter.  Just like the Piggyback Townhouses, we’ll have to get past the first quarter, possibly the second, to see where values are heading.

Braemar Patio Home Values, 4th Quarter 2016

If you placed your Braemar Patio Home on the market, priced to current conditions, Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037you could expect it to be under contract in 28 days.  You could also expect to pay 3% of the sales price in closing cost help for the buyer.

The next Braemar Piggyback & Patio Quarterly will be out in April and will details sales from the first quarter of 2017.  Until then, when it is time to sell your Braemar home, 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 Systems.)

 

Braemar Piggyback & Patio Quarterly: July-September 2016

Braemar Piggyback & Patio Quarterly:  July-September 2016

It is time for another Braemar Piggyback & Patio Quarterly.  In case you aren’t familiar with these types of home styles, Braemar Piggyback Townhouses are attached side-to-side and back-to-back.  While they do not offer back yards, they offer large bedrooms and a two car garage.  Braemar Patio Homes are also known as quads.  Each is attached at the side, back and corner to another Patio Home.  They have two levels, also offering large bedrooms and a modest side yard.

Braemar Piggyback TownhousePIGGYBACK

There were five piggyback townhouses that sold in the third quarter of 2016.  That’s four more than last quarter and two more than we saw last year.  The average of all five sales gives us our new average market value of $303,800.  That is over a 10.5% increase in average value since last quarter and a 3.5% increase in average value since last year.piggyback-3q-2016-really

If you placed your Braemar Piggyback townhome on the market, priced to current conditions, you could expect it to be under contract in an average of 18 days.  You could also expect to pay an average of 2.5% of the sales price in closing cost help to the buyer.

Braemar Patio HomePATIO

There were five patio homes that sold in the third quarter this year.  That’s three more than last quarter and one less than last year.  The average of all five sales gives us our new average market value for Braemar patio homes of $304,800.  That’s an increase of over 2.5% in average value since last quarter and an increase of 1% of average value since last year.

patio-3q-2016-really

Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037If you placed your Braemar Patio home on the market, priced to current conditions, you could expect it to be under contract in just under one month.  You could also expect to pay an average of about 1.5% of the sales price in closing cost help to the buyer.

The next Braemar Piggyback & Patio Quarterly will be out in January and will details sales from the fourth quarter.  Until then, when it is time to sell your Braemar home, 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