Braemar Townhouse Report: September-October 2021
December will be here in a couple of days. While you might think the Braemar real estate market would have nothing to offer this time of year, I am pleased to say that the yearend selling season is one of the best around. Serious buyers are out at a time that stresses “home for the holidays.” The emotions of the season certainly help sell homes. Better yet, many sellers wait for spring, leaving fewer homes for those serious buyers to chose from. My real estate business has thrived this time of year and continues to do so. Of course, I always make time to keep Braemar home owners apprised of market conditions in the property value reports I prepare. Today I bring you the Braemar Townhouse Report, focusing on sales of traditional three level townhouses in Braemar, attached side to side only.
During the current reporting period of September and October, there were thirteen Braemar townhouses that sold. The details of those sales are below:
Looking at these sales we see all thirteen sold at, or above their list price. All but one gave no seller subsidy (closing cost help to buyer.) Meanwhile the sales that closed in late September and into October had higher days on market. Taking these sales and combining them with the entire past twelve months of Braemar townhouse sales we will get a better snapshot of current trends in the townhouse market when the data points tracked in this report are updated.
Looking at the sold price column, Braemar townhouses are continuing to gain value. Both the six month average and the six month median sold prices are higher than their respective twelve month sold prices. This is proof of the continued seller’s market. The rate of increase in value has slowed slightly since last report, but not enough to be concerned about. Both the six month average growth rate and six month median growth rates are down 0.3% since July and August.
Seller subsidy shows a decrease in the six month average compared to the twelve month average. Meanwhile, with the six and twelve month median values both at zero we know that in both time periods, more than half of Braemar townhouse sellers gave no closing cost help. Another hallmark of a seller favored market.
Days on market, despite the upward trending numbers in the two months worth of most recent sales, shows no serious change. When looking at the six month average and median marketing times compared to the corresponding twelve month values, Braemar townhouses are still going under contract in about a week or less.
If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it could be under contract in about a week. While some of the most recent sales on the calendar suggest it may take a bit longer, my most recent Braemar townhouse listing went under contract in only five days this November. You could also expect you could escape any seller subsidy requests since buyer demand is still outpacing supply. However, the second half of the year has shown buyers less willing to waive contingencies like home inspection and appraisal. The all-out buyer frenzy has cooled, though the market remains a seller’s market.
The next Braemar Townhouse Report will be out in January. Until then, I do hope the holiday season brings you peace and happiness. Of course, anytime the need arises to sell your Braemar townhouse, I am here with all of my neighborhood expertise, professional marketing and superior negotiation skills to help you make the absolute most you can from your home sale. Unfortunately, even during a seller’s market, money is too often left on the table. Hiring a local professional will help you increase buyer enthusiasm and maintain it throughout the process. Helping Braemar sellers is my specialty. Get in touch with me for a no obligation consultation. Since 2005, No One Knows Braemar Better!