Braemar Piggyback Quarterly: January-March 2019 (1st Quarter)

Braemar Piggyback Quarterly: January-March 2019 (1st Quarter)

Not only is the first quarter of 2019 firmly behind us, but so is the first third of the second quarter.  Kids will be out of school before you know it.  Families will go on vacation and right about July and August, our Braemar real estate market will slow down.  It’s been such high demand and low supply for months that I think some sellers are taking it for granted.  The good news is that there is still time to get your home on the market before the dog days of summer.

Right now, it’s time for another Braemar Piggyback Quarterly.  This report focuses on resales of the back to back townhouses in our neighborhood.  What they lack in the absence of a back yard, they more than make up for with the two car garages and large bedroom sizes.

Looking back at the first quarter of 2019, only one Piggyback townhouse in Braemar sold.  It sold for $330,000.  The details of that sale are below.

Even though there is only one Piggyback townhouse sale to report this quarter, when it is placed with the previous three quarters of sales, we get a chance to see updated six and twelve month data points.

Seeing that the six month average and median sold prices are both higher than their twelve month counterparts, we see that Piggyback townhouse values are increasing. Not surprising given the high demand and scant supply we are seeing in our Braemar marketplace.

Another thing common in a seller favored market is dwindling seller subsidy (closing cost assistance to buyers.)  It is not a surprise to see the six month average and median seller subsidy values falling below the twelve month average and median values.

Now we come to days on market, or as I like to call it – marketing time.  When we switched to our new MLS in November, their method for counting days on market was different.  However, after many complaints from the subscribing agents, this new MLS has decided to keep consistent with how we had been counting days on market before.  Whew!  That said, seeing increases in both the six month average and median marketing times, compared to the respective twelve month values, is not what I was expecting.  Seems Piggyback townhouses take some time to snatch up their buyers and it is getting to be a little longer than the traditional townhouses in Braemar.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it to be under contract in less than three months. (Honestly, I would be shocked if I placed a Braemar Piggyback townhouse on the market and it took more than two weeks to sell it.) You could also expect you may have to give about 1% of the sales price in closing cost help.

The next Braemar Piggyback Quarterly will be out in July.  Until then, if you want to take advantage of our high market demand and list before July and August, give me a call.  It’s my job to maximize your profit.  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

 

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Braemar Piggyback Quarterly: July-September 2018 (3rd Quarter)

Braemar Piggyback Quarterly: July-September 2018 (3rd Quarter)

It is time for another Braemar Piggyback Quarterly, detailing sales of Braemar Piggyback townhouses in the third quarter of 2018.  If you are wondering what a piggyback townhosue is, they are not only attached on the sides, but along the back too.  They have no back yards, like traditional townhouses, but have larger bedrooms than a traditional townhouse.  They also have two car garages.

There was one Piggyback townhouse that sold during the third quarter.  Details are below:

That sale alone doesn’t tell us much.  When we take this sale and put it in with the last year of Braemar Piggyback townhouse sales, we do get a chance to look at six and twelve month data points.  Current trends are found in the six month data points compared to the twelve month data points.  These are the current six and twelve month average and median values for Braemar Piggyback townhouses.

For starters, the most recent sale is well above the six month average and median sold prices.  That’s great news.  For trends, the six month average and median sold prices are higher than the twelve month average and median sold prices.   That means values of Braemar Piggyback townhouse are still pushing up.

When it comes to seller subsidy (closing cost assistance to buyers) the six month average is about the same as the twelve month average.  The six month median is a little lower than the twelve month median.  Right now, it seems Braemar buyers are still expecting closing cost help.  And the most recent sale would indicate it could be worse than the average or medians above.

The days on market (marketing time) has increased a little in the six month average compared to the twelve month average.  However, there is a larger increase in the six month median compared to the twelve month median.  Seems it is taking longer to sell Braemar Piggyback townhouses.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it to be under contract in about a month or a month and a half.  You could also expect to pay about 1.5% of the sales price in closing cost help to the buyer.

The next Braemar Piggyback Quarterly will be out in January.  Until then, don’t count our fall market.  If you want to know what your home is worth right now, give me a call at 703-4002-0037.  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 Piggyback Quarterly: October-December 2017 (4th Quarter)

Braemar Piggyback Quarterly: October-December 2017 (4th Quarter)

The New Year is off to a great start.  Better still, the end of 2017 was nothing to sneeze at when it comes to the Braemar real estate market.  Right now, it is time for another Braemar Piggyback Quarterly.  To begin, let’s define a Braemar Piggyback home.  These townhouses are not only attached on the sides, but along the back too.  They have no back yards, like traditional townhouses.  They also have two car garages.

There were three Braemar Piggyback townhouses that sold in the fourth quarter of 2017.  The sales are detailed below:

When you take these sales from the fourth quarter and throw them into our rolling six and twelve month values, we find that values are fairly steady.  The six month average sold price is higher than the twelve month average, but the twelve month median is a tad lower than the twelve month median.  This is stability.  It is also seen in the seller subsidy and DOM (days on market.)

If you were to put your Braemar Piggyback townhouse on the market, you could expect it to be under contract in about a month.  You could also expect to give about $2,000 in closing cost help to your buyer, maybe a bit more.

The next Braemar Piggyback Quarterly will be out in April.  Until then, give me a call if you want to know the value of your own Braemar Piggyback townhouse.  Since 2005, No One Knows Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

Braemar Piggyback Quarterly: July-September 2017 (3rd Quarter)

Braemar Piggyback Quarterly: July-September 2017 (3rd Quarter)

If I were to guess what a lot of Braemar home owners were doing this weekend, I would guess shopping.  The Black Friday weekend ushers in the shopping frenzy to Christmas.  While you may be focused on the fourth quarter activities, this Braemar Piggyback Quarterly report is going to take you back to the third quarter.

Before we begin, let me tell you what defines a Braemar Piggyback townhouse.  These are the townhouses with two car garages, attached at the sides and back.  They have no back yard, like traditional townhouses.

There were three Braemar Piggyback townhouses that sold between the beginning of July and end of September.  Those sales are detailed below.

When we take these sales and freshen up our rolling six and twelve month data points, we find that everything from sold prices, seller subsidy and marketing time are remaining stable.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it to be under contract in a little more than a month.  You also may not have to pay a dime in closing cost help to your buyer.

The next Piggyback Quarterly will be out in the new year.  Until then, when you are ready to sell your Braemar home, 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 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

Braemar Piggyback & Patio Quarterly: April-June 2016

Braemar Piggyback & Patio Quarterly:  April-June 2016

We are well into summer in Braemar.  Seems this time of year always goes by a lot faster than any of us would like, particularly the kids who are enjoying their summer vacation from school.

Right now, we are going to take a look back at the second quarter sales activity for Braemar Piggyback and Patio homes.  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 was only one sale of a Braemar Piggyback townhome in the second quarter, unlike the two sales that happened in the first quarter this year.  Still, it is better than the activity we had in the second quarter of 2015, which was none.  This recent sale is nearly 4% lower than the average sales price last quarter.  Unfortunately, the recent sale is also lower than the lowest price last quarter.  We will have to keep an eye out in future reports to see where Braemar Piggyback values go long term.

Braemar Piggback Townhouse Values, 2nd Quarter 2016

If you placed your Braemar Piggyback townhome on the market, priced to current conditions, you could expect that it would be under contract in as little as three days.  You could also expect to pay 3% of the sales price in closing cost assistance to the buyer.

PATIO

There were two sales of Braemar Patio homes in the Braemar Patio Home in Braemarsecond quarter.  This is one less sale than we saw last quarter and one less than we saw in the second quarter last year.  The average sales price of a Braemar Patio home is now $297,000.  That’s a drop in value of nearly 1/2 of 1% since last quarter and a drop of over 5% in value since last year.  I am hopeful, given market demand, that these values will be coming up in future reports.

Braemar Patio Home Values, 2nd Quarter 2016

If you placed your Braemar Patio home on the market, priced to current conditions, you could expect it to be under contract in an average of eighteen days.  You could also expect pay an average of under 1% of the sales price in closing cost help to the buyer.

Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037The next Braemar Piggyback & Patio Quarterly will cover the third quarter of 2016 and will be out in October.  Until then, when you are ready to sell your Braemar home, call me for a free market analysis.  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 by Chris Ann Cleland, using the MRIS (Metropolitan Regional Information System.)