Braemar Townhouse Report: July-August 2021

Braemar Townhouse Report: July-August 2021

Last, but never least, in my September series of property value reports is this edition of the Braemar Townhouse Report. In this report we look at the sale of traditional three level townhouses with a backyard. If you have a two car garage townhouse with no back yard, you need to look at the Braemar Piggyback Quarterly. If you have a two level attached home, you need to look at the Braemar Patio Quarterly. This is a report that also does not include Braemar Condos. For those you can look to the Braemar Condo Quarterly.

During the months of July and August there were thirteen Braemar townhouses that sold. Their sold prices ranged from $370,000 to $460,000. Details of those sales are listed below:

If you think I made a type-o by having 12198 Drum Salute the list twice, I did not. That home sold once in July to an investor and then again by the investor for $40,000 more. What’s the big difference? Let me tell you the improvements were some the first home owners would have been advised to do if I had meet with them. The first sellers had specific paint colors that went with their own decor. They also had a couple rooms in need of new carpet. They also were in need of a new roof. Often times, insurance companies cover that. Their home, despite professional photos, looked cluttered in the most important rooms: kitchen and owner’s bathroom.

The investor painted the whole townhouse a neutral gray. They added new lighting fixtures and faucets to the bathrooms, tiled the floor and added a frame around the vanity mirrors. They added updated lighting fixtures in the kitchen, dining and rec rooms. They added a back splash to the kitchen and painted they owner’s bathroom vanity. They updated the carpeting and added a new roof. They also put in a new garage door opener. All told, that probably cost them $10,000 to $15,000. And even if the seller didn’t have those funds on hand, there are remodeling companies that will cover the costs and take reimbursement from closing costs. The $25,000 net from the investment would have been worth the trouble if they had known what their home would have been worth with some modest listing preparation. That’s why I always reiterate listing prepartion and professional marketing. One without the other doesn’t get top dollar.

Taking these thirteen sales and combining them with all the Braemar townhouse sales from the previous twelve months, our six and twelve month data points are updated as seen below:

Looking at the sold price column, we see that both the six month average and six month median prices are higher than their respective twelve month values. This means Braemar townhouses are continuing to increase in value. The summer did show a softening of buyer demand, but nothing to be concerned with. The six month growth rate last Braemar Townhouse Report was 5% average and 6% median. The only difference this report is that the six month average growth rate a tad lower at 4%.

Seller subsidy is where we get to see how much closing cost help Braemar buyers were able to get from their townhouse sellers. Both the six and twelve month median values are at zero. That means more than half of Braemar townhouse sellers in both time frames gave no seller subsidy. And even looking at the most recent sales, we see only one seller out of thirteen that gave anything. Turns out, out of seventy-one sellers in the past year, only eleven gave closing cost help. That’s why we even have average seller subsidy values and why they are so low.

Days on market is unchanged in the avearage and median values. Braemar townhouses are still getting gobbled up quickly in our seller’s market.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect to be under contract in a week or less. You could also expect to give nothing in seller subsidy.

The next Braemar Townhouse Report will be out in November. Until then, if the time is drawing near to sell your townhouse, get in touch with me and find out how to avoid leaving money on the table. We saw the case study of leaving money on the table in this report already. Don’t be that seller. Hire a local, professional agent that offers top notch listing preparation advice and marketing. One without the other is not enough. 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
www.ChrisAnnCleland.com

Braemar Property Value Report: July-August 2021 (Ryan Homes)

Braemar Property Value Report: July-August 2021 (Ryan Homes)

Another gorgeous September day brings another Braemar Property Value Report. The days are gradually cooling off, and perhaps our real estate market as well. In this edition of the BPVR we focus on sales of houses built by Ryan Homes in the neighborhood during the last two months of summer.

During July and August there were ten Ryan Homes in our neighborhood that sold. I was pleased to have listed one, which you will see highlighted in pink below:

Sold prices ranged from $610,000 to $770,000. I know the listing I had at 12809 Gentle Shade Drive hit a happy spot with buyers despite not having top of the line updates and a fully finished basement, getting $68,000 above list price. That’s the biggest leap from list price to sold price in the most recent sales. See what hiring a professional marketing agent that knows the neighborhood like the back of her hand can do for you.

Taking these ten sales and combining them with the last twelve months of Ryan Home sales in Braemar, our six and twelve month data points are updated and continue to show the strength of our seller’s market.

Starting with the sold price column, we see both the six month average and six month median values are higher than their respective twelve month values. Despite the buyer frenzy cooling off a bit this summer, Ryan Homes are still gaining value. And unlike some of the homes I have reported on lately, Ryan Homes saw a steady rate of increase in the twelve month average to the six month average of 2% since last report. Better yet, while some homes have seen decreases in median value gains since last report, Ryan Homes saw a 5% uptick since last report’s 2% median growth. All great news.

Seller subsidy is where we learn how much closing cost help buyers were able to negotiate from their sellers. Down the line in the ten most recent sales, the answer is zero. That is also the answer in the seller subsidy average and median values with the exception of the twelve month average. Out of twenty-three sales in the past twelve months, only one seller gave closing cost assistance, which is why the average is such a low value.

Days on market is five days down the line. Some of the most recent sales happened ever faster than that, some longer. However Ryan Homes are still selling ridiculously fast as inventory still is not enough to meet buyer demand.

If you placed your Ryan Home on the market, priced to current conditions in our Braemar real estate market, you could expect your home to be under contract in less than one week. You could also expect to give nothing in closing cost help.

The next Braemar Property Value Report will be out in November and will let us know if fall is off to a strong start, which I suspect it will be. Our year end market is usually a great one, fueled by the beginning of the fiscal year for the Federal government. Until then, if you want to investigate the possibility of selling your Braemar home, get in touch with me. Since 2005, No One Knows Braeamar 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
www.ChrisAnnCleland.com

Braemar Property Value Report: July-August 2021 (NV Homes)

Braemar Property Value Report: July-August 2021 (NV Homes)

It has been a string of gorgeous September days lately. Just the right temperature and beautiful blue skies, very similar to the sky in the picture above. While I would rather be out enjoying the day, work still needs to get done. For this Top Braemar Real Estate Agent, that means getting out another Braemar Property Value Report. Today’s report focuses on the sales of houses built by NV Homes in our neighborhood during the last two months of summer. Without further delay, let’s get to it.

During July and August there were six NV Homes that sold in Braemar. The details of those sales are listed below:

Wow! Very health sold prices in that sold price column. But how do the six and twelve month data points look?

Starting with the sold price column we see both the six month average and six month median values are most definitely higher than their twelve month respective values. This means NV Homes are still pushing up in value. This report the average was up 4% in six months. The median value was up 3% over six months. Compared to last report, the average growth is down 3% and the median growth is up 2%. Only time will tell where values go from here. All I know is that the summer brought a slowing of the buyer frenzy we had been experiencing since 2020. Even with that slow down, it has remained a healthy seller’s market.

The seller subsidy column is where we learn how much closing cost help buyers were able to negotiate from their sellers. The answer in the six month and twelve month median values is none. That means more than half the sellers in both time frames gave absolutely nothing in closing cost help. However, NV Home sellers have been giving something since there are values in the six month and twelve month average values. One of those seller is represented in the most recent sales above with $2,300 in seller subsidy. That’s only one seller out of six that gave any closing cost help. It is a rarity these days as buyers are competing against other buyers to be the offer chosen.

Days on market is where we find out how quickly NV Homes are going under contract. Very fast. The six month average marketing time was only three days compared to the seven days seen in the twelve month average. Meanwhile, the six month median marketing time is only two days, which is even faster than twelve month median marketing time of three days.

If you placed your NV Home on the market, priced to current conditions, you could expect it ot be under contract in less than one week. You could also expect to give nothing in seller subsidy.

The next Braemar Property Value Report will be out in November. Until then, if you have been considering the sale of your Braemar home, waiting until next spring may not be the most beneficial move. Our year end housing market in Braemar is a powerful one, fueled mainly by the fiscal year for the Federal government beginning October 1st. New jobs are created and raises abound. Meanwhile, fewer sellers tend to take this time of year seriously. The sellers that do tend to make out very well. Call me and find out what a year end sale could mean for you. 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
www.ChrisAnnCleland.com

Braemar Property Value Report: July-August 2021 (Heritage Series)

Braemar Property Value Report: July-August 2021 (Heritage Series)

Welcome to another edition of the Braemar Property Value Report. This particular report focuses on sales of Heritage Series homes in our neighborhood. Heritage homes are mid-sized single family homes, built by Brookfield Homes.  They have two car attached garages and include the following floor plans:  Exeter, Yardley, Zachery (a.k.a. Zurich) & Waverly.  The homes built by Coscan in Braemar North Gate are also included in this group, as they are similar in size. This edition looks back to the last two months of summer.

During the months of July and August there were nine Braemar Heritage homes that sold. Their sold prices ranged from $571,234 to $675,000. As you look through the total number of bedrooms, bathrooms and the basement finishes below, you will see a wide variety. This report sale three, three bedroom homes sold and three homes with unfinished basements sold. Both of those of those factors are not what we typically see in the Heritage home sales. The details of all nine are listed below:

Taking all nine sales and combining them with the entire past twelve months of Braemar Heritage home sales, the six and twelve month data points are updated as reflected below:

Looking at the sold column we see an average increase in value from twelve months to six months of 4%. The median increase in value from twelve months to six months is 5%. Summer certainly slowed the pace of our growth. Just last report, the average growth in six months was 8% and the median growth in six months was 11%. Though we are still in a seller’s market, the summer months saw a cooling off of the buyer frenzy as many focused on enjoying summer vacations. Meanwhile, more sellers jumped into the market. That meant fewer offers from buyers where sellers had been seeing a dozen or more earlier in the year. Nonetheless, growth is growth and buyers are still outnumbering sellers.

Seller subsidy is where we learn what buyers were able to negotiate from their Braemar Heritage home sellers. The answer overall is not much, if anything at all. Of the nine sales listed for this reporting period, one buyer got $300. All else received nothing. The six month average and twelve month average seller subsidy numbers are very low as well. The median seller subsidy for both time frames being at zero means that more than half of sellers gave nothing in closing cost help as buyers competed for homes.

Marketing time is as steady as it can be and still remains in the single digits they have been. A quick scan of the nine sales above reveals only one seller that took nearly three weeks to go under contract. It was a three bedroom Yardley with an unfinished basement. Definitely not the most sought after home in our neighborhood. And it was only one of two sales this report period that took less than list price.

The next Braemar Property Value Report will be out in November. At that time, we will have a great idea if the fall selling market lifted buyer demand again. I suspect it will. Our market enjoys a the majority of its workers being Federal employees, directly or indirectly. The Federal budget year starts fresh every October 1st. That means raises and more jobs. The year end market can be a powerful one for sure. If you are interested in hearing more about it, get in touch with me. 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
www.ChrisAnnCleland.com

Braemar Property Value Report: July-August 2021 (Courtyard Series)

Braemar Property Value Report: July-August 2021 (Courtyard Series)

This weekend marks the unofficial end of summer, which makes it a great time to share with you another Braemar Property Value Report (BPVR.) This particular report focuses on Courtyard homes in the neighborhood. Braemar Courtyard homes are the single family homes located on Orland Stone, Pentland Hills and Playfair.  Five homes share a courtyard driveway and have a strip of yard separating them from each other.  I often refer to them as city homes or executive style homes, as they require the most minimal lawn maintenance and have very contemporary floor plans named the Arlington, Ballston and Clarendon.  What they lack in lawn, they more than make up for in generous bedrooms sizes.

This particular edition of the Courtyard Series BPVR will cover the last two months of summer, July and August. During that time there were four Courtyard homes that sold. That is a lot of Courtyard home sales for a two month period, as long-time BPVR followers know. Courtyard homes make up such a small percentage of homes in Braemar that is not unusual to have periods of one sale or none at all. The details of the Braemar Courtyard home sales from July and August are listed below:

Taking these sales with the entire past twelve months of Courtyard home sales in Braemar, the six and twelve month average and median data points we use to determine what is happening in the market are updated as follows:

Starting in the sold price column, we see higher values in the six month average and median than compared to their respective twelve month values. This means Braemar Courtyard homes are still increasing in value. While the rate of increase in average and median value last report was 3% and 5% respectively, it has slowed to 2.5% in average and median this report. Hey, an increase is an increase. And we all knew the ridiculous growth of the frenzied seller’s market was not/is not sustainable. Buyers taking time off of house hunting to vacation and more sellers coming to market simply made a less hectic seller’s market this summer. It is typical for our market to slow a bit from whatever pace it was keeping in spring when we hit summer.

Seller subsidy is where we find out how much closing cost help Braemar Courtyard home buyers were able to negotiate from their sellers. The answer across the board, or more acurately down the column, is zero. As buyers compete for fewer homes in a seller’s market, seller subsidy becomes a non-starter if a buyer wants to get under contract.

Marketing time shows exactly the same thing in the twelve month values as it does in the six month values. Braemar Courtyard homes continue to sell fast. The only recent Courtyard home breaking that norm is the one listed above on Playfair. It went under contract much later in the summer when things were slowing down.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect to be under contract in about a week. You could also expect to give nothing in seller subsidy.

The next Braemar Property Value Report will be out in November, where I suspect you will see proof of the strength of our fall market. If you want to find out more about what a year end sale during a seller’s market could mean for you, get in touch with me. 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
www.ChrisAnnCleland.com

Braemar Property Value Report: July-August 2021 (Carraige Series)

Braemar Property Value Report: July-August 2021 (Carraige Series)

Even though it is technically still summer until September 21st, after school starts and we begin the month of September, it feels like the unofficial beginning of fall. July and August sure went by in a flash, and with them more Braemar Carriage home sales to report in this edition of the Braemar Property Value Report. Since this report focuses solely on Braemar Carriage home activity, it is important to know what defines a Carriage home in our neighborhood. They are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home, accessed by a private driveway off of the street, or off of a shared alley in the back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

During the current reporting period, there were three Braemar Carriage homes that sold. The final sold prices ranged from $531,000 to $615,000. Details of those three sales are listed below:

Sold prices keep marching up. For specifics on how the market is doing, let’s take a look at our updated six and twelve month data points.

Starting with the sold price column we see big increases from both the twelve month average and median to their respective six month average and median values. The jumps were 7% and 10% in value. Last report, we saw values jumps of 6% and 8%. Braemar Carriage homes, despite what was overall a slowing in the market during the summer months, have appreciated at an even better rate than previous reporting. As I recall, Braemar Carriage homes were the least impacted by lack of sales in our real estate crash over a decade ago. These homes will be the last to show any slowing of the market.

Seller subsidy is where we see how much closing cost assistance buyers were able to negotiate from their Braemar Carriage home sellers. The six and twelve month average seller subsidy numbers indicate that across the board, very few buyers even ask for closing cost help. The six and twelve month median values at zero show us that more than half of buyers in both time frames needed no closing cost assistance.

Marketing time is still super fast. We see single digits down the line with the only change being a one day decrease from the twelve month average marketing time of five days to the six month average marketing time of four days. Carriage homes are always one of the hottest selling homes in Braemar. That also makes them one of the smartest investor purchases in our neighborhood.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in a week or so. You could also expect to give no seller subsidy as buyers continue to compete to get under contract.

Just because we are entering the year end market does not mean that the real estate market will slow. In fact, it is typical for activity to pick up about this time as folks are done with vacations. More importantly, the Federal government’s new fiscal year starts October 1st, filled raises and new job opportunities for employees and contractors.

The next Braemar Property Value Report will be out in November. Until then, get in touch with me to find out what a sale in the near future would mean for you both financially and logistically. 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
www.ChrisAnnCleland.com

Braemar Property Value Report: July-August 2021 (Arista Series)

Braemar Property Value Report: July-August 2021 (Arista Series)

As I type this, Tropical Storm Ida is making this day in Bristow perfectly miserable. Bands of wind and rain have been broken by the ocassional glimpse of sunshine. Days like this always remind me why I gave up on umbrellas and now opt for hooded rain jackets. There is never a substitute for the best preparation for anything in life, real estate included.

Today I bring you the first in the July-August 2021 Braemar Property Value Reports. This one focuses on sales of Arista Series homes in our neighborhood. Arista homes are the largest single familiy homes built by Brookfield Homes in Braemar and include the Allister, Buckingham and Canterbury models. Let’s get right to it and see what happened during the last two months of summer.

During July and August there were three Arista homes that sold in Braemar. They were all Canterbury models with three to four fully finished levels. The details of each of those sales is detailed below:

Quite a difference in sold prices to see a six bedroom, five and a half bathroom Canterbury sell for $729,000 while two others with one and two fewer bedrooms, and one fewer full bathrooms, sold for $790,000 and $791,000. What’s the difference? The $729,000 sale was a little more basic inside in terms of finishes (Corian counter tops, for instance in the kitchen,) but the glaringly obvious fact to an agent like myself on that lower sale was the lot. That home backed to the middle school and the water tower. Location matters tremendously in real estate.

By comparision, the $790,000 and $791,000 sales backed to trees. One was very well kept with a finished loft in addition to the basement. That was the $790,000. The $791,000 backed to the same tree line, lacked a finished basement, but had an in ground pool. Pools are great, but should not be counted upon in the Bristow market to bring you more in your sale. In this case, it seems the pool was equivalent in markekt value to a finished loft that added an additional bedroom, bathroom and open space.

Taking all three of these sales and combining them with the entire past twelve months of Arista home sales in Braemar, the six and twelve month data points provide us information that suggest the market may be slowing down.

To start with, the sold price column doesn’t show tremendous increases in sold prices from the six month average and median compared to the twelve month average and median. The highest increase was comparing the averages and only accounted for abourt 1% average increase in six months. The median sold prices are much more telling, as they show an increase of only $500 in six months. Our last report showed much larger increases.

Seller subsidy, also known as closing cost help to buyers, was zero down the line. This is something we have been seeing as buyers compete for fewer homes. Asking for closing cost help in an offer is a one way ticket to not getting your offer accepted in multiple offer situations these days.

Days on market reveals more data that inidcates a slowing pace to the frenzied seller’s market. Both the six month average and six month median marketing times were longer than their respective twelve month values. Nine days is still not a long time to market a home by any means, but it is an indcator that the market is changing to see marketing time getting longer.

If you placed your Arista home on the market, priced to current conditions, you could expect it to be under contract in more than a week and less than two weeks. You could also expect to not have to give any seller subsidy.

The market slow down in this report from July and August is likely an impact of summer vacations. So many families missed out on them in 2020 and were adamant about taking them this year. Buyers took time away from the market for summer and sellers who thought that summer vacation while the kids are out of school is the best time to list, provided a lot more inventory, giving the fewer buyers more choices. Obviously, it is still a seller favored market. Only time will tell if the buyer frenzy that drove prices up steeply this year returns in the fall.

The next Braemar Property Value Report will be out in November. We’ll have a good idea by then if the buyer frenzy has returned. Until then, if you want an in depth market analysis of what a sale could mean for you, get in touch with me. Listing preparation and professional marketing are the keys to not leaving money on the table, no matter the market. And my added expertise on our neighborhood add even more the professional marketing of your home. 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
www.ChrisAnnCleland.com

Just Sold Another Braemar Home Above List Price

12809 Gentle Shade Drive Listed for $649,000 on July 8th and Sold for $717,000 on August 6th.

Just Sold Another Braemar Home Above List Price

Having recently listed 12148 Formby Street and 9239 Glen Meadow Lane, I have to say I was not about to advise the sellers of 12809 Gentle Shade Drive to raise their list price prior to hitting the market. Those other Bristow homes had not received offers their first weekend on market and one barely sold above list price. The seller’s market of 2021 had changed going into summer. My advice was to stick to the marketing plan at $649,000 and see what buyers thought. There is no such thing as underpricing in a seller’s market.

It was evident right away that this home in Braemar was in high demand. After three offers, it was time to hit the done button. A buyer came in with an offer the sellers couldn’t refuse. Best of all, the buyer could back up their offer price with a sizeable down payment. That meant if appraisal came in low, the sellers wouldn’t require the sellers to lower the sales price.

uAs we waited for appraisal day, since there were no other contingencies, I got a call from a colleague with a listing nearby that had gone under contract sight unseen. The agent was furios that the appraisal had come in below list price while the offer her seller’s held was well above list price. That’s the risk of sight unseen. You don’t get to see market value if you were never exposed to the market. Appraisers take multiple offers into account when they are heading in the same direction. However, one offer that a buyer puts together to make the seller stop the marketing process before it begins should be a red flag to listing agents.

Thank goodness, the listing preparation my sellers had done at my recommendation, combined with my professional marketing got them a fantastic offer. And showing all of the updates, offers and having the marketing to show the appraiser made a difference. The appraisal, we are told, came in at sales price! Which brings me to the very happy ending of this Braemar home sale.

On August 6th (2021,) 12809 Gentle Shade Drive sold for $717,000..$68,000 above list price.

Ready to list your Braemar home? Don’t leave a penny on the table. Even in a seller’s market it can happen. Get in touch with me to get the skinny on listing preparation recommendations and my professional marketing to power buyer enthusisam. Since 2005, No One Know 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
www.ChrisAnnCleland.com

Braemar Townhouse Report: May-June 2021

Braemar Townhouse Report: May-June 2021

Last, but not least in the series of May-June Braemar market reports, I bring you the Braemar Townhouse Report. This report focuses on the sale of traditional three level townhouses in our neighborhood. Traditional townhouses are those with three levels with a back yard that are NOT condos.

During the months of May and June, there were sixteen townhouses in Braemar that sold. I was so very happy to represent the buyers of the one highlighted in blue. Details of all of the sales are listed below:

There is a wide variety in final sold prices because there is a variety in sizes and styles of traditional townhouses in Braemar. Of the larger one car garage townhouses, my buyers got a fantastic deal on Drum Salute. The home did not show well, but that was a plus for us. It only needed new flooring, some paint and a good cleaning. They were able to negotiate $8,000 in closing cost help to offset that cost, have a home inspection and still get a killer deal. If they turned around and sold the home after the improvements, they could actually make money.

Taking all of the sales listed above and combining them with the entire past year of Braemar townhouse sales, our six and twelve month data points show more seller favored trends.

Starting in the sold price column, it is no surprise to see the growth that happened in the six month average and median compared to the twelve month average and median values. Townhouses have been gaining value quickly in this market with little inventory and an overload of buyers.

Seller subsidy is where we find out what amount of closing cost help Braemar buyers were able to to negotiate from their townhouse sellers. My buyers and one other were the only ones in the sixteen recent sales that negotiated any closing cost help in May and June. Looking at the six and twelve month median, more than half of sellers in both time frames had to give nothing. The six month and twelve month averages show that seller subsidy is becoming more rare. It is highly unlikely to have a buyer request closing cost help if your home is properly prepared for market. Doing nothing in a seller’s market costs a seller.

Days on market shows the seller’s market in all its glory with single digits down the line. Braemar townhouses sell very quickly. Even in the sixteen most recent sales listed, only one took two weeks to go under contract.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect your townhouse to be under contract in a week or less. You could also expect, if you did the work to make your home shine, to give nothing in closing cost help.

The next Braemar Townhouse Report will be out in September. Until then, when you are ready to sell your Braemar townhouse, don’t fall victim to leaving money on the table. Get my expert advise on listing preparation and take full advantage of my professional marketing for the absolute max the market will bear for your home. You only get one chance to get the equity out in a sale. Who you hire matters. 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
www.ChrisAnnCleland.com

Braemar Property Value Report: May-June 2021 (Ryan Homes)

Braemar Property Value Report: May-June 2021 (Ryan Homes)

Ah Monday…my favorite day of the week. Ever since becoming a Bristow Real Estate Agent, I have loved the start of the work week and today is no exception. While my travels today had me outside of Bristow, helping buyers who had once sold in Braemar, but relocated to Locust Grove, I am happy to end my day doing what I do best…helping Braemar home owners.

What I bring to you today is the Braemar Property Value Report for houses built by Ryan Homes in our neighborhood. This particular edition focuses on the sales between May and June, and then provide updated six and twelve month data points that allow us to decipher the direction of the market. Let’s get right to it.

There were five Ryan Homes that sold in Braemar in May and June. The details of those sales are listed below:

There is a large variation in sold price in the five sales, ranging from $536,000 to $740,000. The variation, in large part, comes the variety in home sizes that Ryan Homes offered in Braemar. Another factor, of course, is the finishes each home offers on the market.

Taking these sales and combining them with the entire past twelve months of Ryan Home sales in Braemar, the six and twelve month data points show signs of a very healthy seller’s market.

Starting with the sold price column, we see that both the six month average and six month median sold prices are higher than their respective twelve month values. This means that Ryan Homes in Braemar are continuing to gain value in the seller’s market.

The seller subsidy column is where we learn how much closing cost assistance buyers were able to negotiate from their sellers. In all but the twelve month average, the answer was zero. And the twelve month average only has a value because ONE Ryan Home sale, out of fifteen that happened in the past twelve months, gave $3,000 in seller subsidy. That sale was in September 2020. There has been no seller subsidy given in Ryan Home sales since. In the seller’s market with so little inventory, buyers are having to forego many requests to make their offers strong enough to be chosen in multiple offer scenarios.

Days on market needs no real analysis. Down the line from six month average and median to twelve month average and median, the number of days it took to go under contract was four. Obviously, some of the more recent sales took longer, but average and median values are so steady it is scary.

If you placed your Ryan Home on the market, priced to current conditions, you could expect it to be under contract in less than one week. You could also expect to give nothing in seller subsidy.

As I type this, I have noticed in July that buyer demand is decreasing a bit. Still, buyers outnumber sellers, but not by as much as before. What has likely happened, as does every July and August, is that sellers rush to sell when school is out while buyers go on summer vacation. Expect things to heat back up in the fall.

The next Braemar Property Value Report will be out in September. Until then, if the need arises to sell your home, get in touch with me. Sellers are leaving money on the table in many deals in this seller’s market. By hiring inexperienced, or cut rate agents that put zero effort into marketing a property or giving seller’s notes on getting a home market ready, buyer enthusiasm lacks. My job is to create buyer enthusiasm to get the max ANY market will alow. It is done with proper listing preparation and professional marketing. My efforts don’t wane because buyer demand is high. 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
www.ChrisAnnCleland.com