Braemar Piggyback Quarterly: October-December 2018 (4th Quarter)
If you have been wondering what your Braemar Piggyback townhouse is worth, today is your lucky day. This Braemar Piggyback Quarterly will tell you what sold in the fourth quarter of 2018. And if you aren’t sure if you own a Braemar Piggyback home, they are the two car garage townhouses attached on the sides and back. They have no backyard, but make up for it with larger bedroom sizes than traditional townhouses.
There were two Braemar Piggyback townhouses that sold in the fourth quarter of 2018. The details of those sales are listed below:
When we take these two sales, along with the previous three quarters of sales data from 2018, we can get some valuable data in the six and twelve month data points of sold price, seller subsidy (closing cost assistance to buyer) and DOM (marketing time.) These are the updated six and twelve month data points for Braemar Piggyback townhouses:
Let’s start with sold price. The six month average and median sold prices are both above the twelve month average and median sold prices. This means values of Braemar Piggyback townhouses continue to go up in value.
When it comes to seller subsidy, the six month average is nearly $1,200 below the twelve month average. Even better, the six month median is zero, compared to the twelve month median seller subsidy of $3,500. Braemar Piggyback townhouse sellers have been giving less in closing cost help. And the last two sales of 2018, the sellers gave none!
Marketing time is a tricky one now because our data here is being measured differently since our market switched to a new MLS system in November. Both of the sales reported here are likely unaffected by the MLS change, but in the future I expect marketing time to go up. In this report, marketing time is unchanged in the last year.
If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, it would be unreasonable for you to expect your home to be under contract in about one month’s time. You could also expect at the high end to give about 1% of the sales price in closing cost help, but you may luck out and get a motivated buyer that doesn’t need it.
The next Braemar Piggyback Quarterly will be out in April. Until then, if you would like to receive electronic copies of the full report emailed directly to you, sign up by emailing me at ChrisAnn@LNF.com. You can also reach me there, or by phone at 703-402-0037 for a free market analysis of your home’s value when the time comes to sell. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®