Braemar Patio Quarterly: October-December 2019 (4th Quarter)
Happy New Year! Hope our limited snowfall yesterday didn’t impact you in any negative way. It was just enough to give us a white covering on the ground. And roads in the community are mostly cleared up. What I love about the day after a snowfall is how bright the surroundings are with the sun reflecting off the blanket of white. After too many gloomy winter days, it is nice to have a lot of sunshine bouncing off that snow.
Today I bring you the Braemar Patio Quarterly property report. It focuses on sales of Braemar Patio homes in the fourth quarter of 2019. And if you aren’t familiar with what a Braemar Patio home is, they are the two level, one car garage, quad style townhouses in the neighborhood. There are two floor plan styles, one of which boasts a main level master and main level full bathroom. The Braemar Patio homes that sold between October and December 2019 are listed below:
As you can see, there were four Braemar Patio homes that sold during the fourth quarter. The sold prices range from $318,600 to $364,900 and not of the homes had the coveted main level master bedroom/bathroom. Seems condition and upgrades are the primary indicators of value here.
Taking these fourth quarter sales and combining them with the sales that occurred in the entire calendar year of 2019, we get updated six and twelve month data points.
Starting with the sold price column, we see the six month average sold price is slightly higher than the twelve month average sold price. Not an impressive leap in value, but upward movement in the short term nonetheless. Meanwhile, we see stability in noting the six month median sold price is exactly the same as the twelve month median sold price. Values of Braemar Patio homes are, at worst, remaining stable in value.
The seller subsidy column is where we see the closing cost assistance values. Both the six month average and six month median seller subsidy figures are higher than their respective twelve month figures. This means Braemar Patio home buyers on the whole, have been asking for and receiving, more closing cost help from sellers in the more recent past.
When it comes to days on market, or as I like to call it–marketing time, we see different trends. The six month average marketing time is one day shorter than the twelve month average marketing time. Meanwhile, the six month median marketing time is nearly an entire week longer than the twelve month median marketing time. At worst, it is beginning to take more time to sell a Braemar Patio home.
Taken as a whole, these market indicators could be showing an easing up in the high demand our market has been enjoying. Of course, only time will tell .
If you placed your Braemar Patio home on the market, priced to current conditions, you could expect it to be under contract in about three weeks. You could also expect to pay about 2% of the sales price in seller subsidy.
The next Braemar Patio Quarterly will be out in April and will give us a read on our first quarter’s activity for 2020. Until then, when the time comes for you to sell your Braemar home, give me a call. Getting the most amount of money in a sale for Braemar home owners is what I do best. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate