Braemar Property Value Report: September-October 2018 (Ryan Homes)

Braemar Property Value Report: September-October 2018 (Ryan Homes)

If there was one mediocre weather event that I could get rid of, it would be days of strong, gusting winds.  As much as I dislike rain, I would rather have that than wind.  At least the sound of rain is soothing.  The sound of a strong gust of wind hitting my house has the opposite effect.   Might be time to get lost in my headphones with some good music playing while I present this Braemar Property Value Report detailing sales of Ryan Homes in our community.

During our current reporting period, which is the months of September and October, there were four Ryan Homes sold in Braemar.  Their sold prices ranged from $430,000 to $500,000 and are detailed below.

Taking these most recent sales and placing them in with the last year’s worth of Ryan Home sales, we get new six month and twelve month data points that will give us some indications as to what is happening with home values and other data points important to Ryan Home owners in Braemar.

Looking first at the six month average sold price compared to the twelve month average sold price, we see a drop in average value in the short term.  The six month median sold price is also below the twelve month median sold price, but not by as much.  Time will tell if this is a downward trend in value, or if this our market reaching a more stable condition.  The seller’s market has definitely cooled.

Better news is that seller subsidy (closing cost assistance to buyers) is down in both the six month average and median value compared to their twelve month counterparts.  This means Ryan Home owners in Braemar are giving less in closing cost help to buyers.

Days on the market, which I like to refer to as marketing time, shows a slight decrease in average days on market in the six month values compared to the twelve month values.  The six month median days on market, however, shows a much more significant decrease in marketing time.  Ryan Homes in Braemar seem to be selling a bit faster.

If you placed your Ryan Home on the market, priced to current conditions, you could expect it to be under contract in a month or two.  Odds are also in your favor that you could expect to give a nominal amount in closing cost help.

The next Braemar Property Value Report will be out in January.  If you would like to sign up for direct email of these reports when they are ready, send me an email to ChrisAnn@LNF.com with “BPVR Request” in the subject line.   Include your property address, so I can get you the proper report, and the email address where you would like to receive it.

Until January, if you find yourself in a position to sell in our year end market, don’t panic.  There are many actually advantages to off-season selling.  Give me a call for a free market analysis anytime.  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

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Braemar Property Value Report: September-October 2018 (NV Homes)

Braemar Property Value Report: September-October 2018 (NV Homes)

It is probably obvious to you that not every real estate agent you may know that serves our area goes to the trouble of preparing market reports for the area.  Sure, there are cut and paste lines from the MLS that make it to my door, but they give you all the information for the neighborhood.  How is that helpful?  If you own an NV Home, does it matter how long it took a townhouse to sell?  Or a carriage home?  Or a house in the age restricted Dunbarton?  No, it doesn’t.  That’s why I personally prepare these reports myself, and take the time to explain them to you.

Today’s Braemar Property Value Report focuses on sales of NV Homes, of which there were two during our reporting period of September and October.  The details of those sales are listed below:

When I take these two sales and replace September and October 2017 in my rolling year’s worth of NV Home sales, I am able to get a fresh look at our six and twelve month average and median data points.  They now look like this:

When comparing six month values to twelve month values, the shorter term are indicative of current trends when compared to the longer term.  The six month average sold price has fallen slightly below the twelve month average sold price.  By itself, that may be a sign of a slowing market for sellers.  However, the fact that the six month median value is the same as the twelve month median does not give that indication.  What NV homeowners are experiencing are stable market values.

Seller subsidy (closing cost assistance to buyers) is showing short term trends that NV homeowners will love.  The six month average seller subsidy is lower than the twelve month average seller subsidy.  The six month median seller subsidy is way below the twelve month median seller subsidy.  This means that NV homeowners have been giving less money in closing cost help to buyers.

Days on market, or as I call it, marketing time is another showing stability.  The six month average marketing time is about two weeks faster than the twelve month average marketing time.  That’s great and by itself would be indicative of a trend that NV Homes are selling faster.  However, when we look at the median marketing times in the six and twelve month markers, we see they are exactly the same.  This is stability in marketing time as far as I am concerned.

If you placed your NV Home on the market, priced to current conditions, you could expect it to be under contract in under fifty days.  You could also expect to give under 1% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in January.  If you would like to be on the email list to receive the report relevant to your home style, send me an email at ChrisAnn@LNF.com with BPVR Request in the subject line.  Then give me your property address and email address where you would like the report delivered.

Of course, if you have a need to sell this year end, don’t panic.  Give me a call at 703-402-0037 and I’ll be happy to go over comps and tell you why my year end listings sell.  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 Property Value Report: September-October 2018 (Arista Series)

Braemar Property Value Report: September-October 2018 (Arista Series)

Before starting some preparation for Thanksgiving dishes tomorrow, I thought it would be a good idea to put out this Braemar Property Value Report detailing sales of Arista Series homes in our neighborhood for September and October.  Even though it is fall, there is a lot going on in our market, not even mentioning the news that Amazon chose Arlington for its headquarters.  It is likely some of those newly employed by Amazon will be moving to Prince William County and an Arista Home would be a great choice for them.  If you are wondering what Arista homes are,  they  are the largest homes built by Brookfield Homes and include the Allister, Buckingham and Canterbury floor plans.  

There was only one Arista home that sold in our current two month reporting period.  It was a Canterbury that sold for $570,000.  It had originally listed for an optimistic $615,000.  The final list price, in the details below was $589,900.

When we take this sale and run updated six and twelve month data points, here is what we find:

The good news is that the six month average and median sold prices are higher than the twelve month average and median sold prices.  The trend present in comparing the six month values to the twelve month values is that Arista home prices are still going up.  However, it is not great to know that the most recent sale falls below all but the twelve month average.  If future sales continue to slump, this trend will be coming to a halt.

A trend that is not great for seller is that the average and median six month seller subsidy (closing cost help to buyers) is much higher than the twelve month average and median seller subsidy values.  As our marketplace has been dealing with slowing demand, buyers are asking for more and more closing help.  However, there may be a tad of hope that the most recent sale in October gave no closing help.  Unfortunately, I think that may because of the low sales price.

When it comes to days on market, or marketing time, not much has changed in the short term compared to the longer term.  Arista homes are taking about the same amount of time to sell.  Perhaps we’ll get a lift in marketing time and sold prices as those new Amazon employees discover these lovely homes in Braemar.

If you placed your Arista home on the market, priced to current conditions, you could expect it to sell in as little as a month and a half or as long as nearly eleven weeks.  You could also expect to pay $10,000 to $12,000 in seller subsidy.

The next Braemar Property Value Report will be out in Januaury.  Until then, I hope you have a wonderful holiday season.  If you find yourself in a position to sell between now and then, give me a call.  The year end market has a lot of benefits I would love to share with you.  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 Reflection Quarterly: July-September 2018 (3rd Quarter)

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

Let’s wrap up the month of October with the final report of my quarterly Braemar market reports.  This is the Braemar Reflection Quarterly.  It covers sales of the semi-attached homes located on Tarvie Circle, behind the Safeway shopping center, that are attached at the garage only.

There was quite a bit of sales activity in the third quarter, where we saw four Reflection homes sell.  The details of those sales are listed below:

All of the sales in the third quarter were homes that had no egress from the basement.  Come to think of it, I’m not sure there are any Reflection homes with basement egress.  If you have one, I’d love to hear about it and know if it was added after construction.  When we take these four sales and plug them in with the previous three quarters of sales activity, we get new six and twelve month data points, as follows:

The trend we most like to see in the sold price column is higher values in the six month average and median compared to the twelve month average and median.  While the six month average sold price is higher than the twelve month average sold price, the median sold price is exactly the same in the six and twelve month median values.  This is mixed information.  Average sold price increase in the six month over the twelve month indicates Reflection home prices are rising.  However, the same value in the six and twelve month median indicates Reflection home prices are stable.  Only time will tell which is correct.

The seller subsidy (closing cost help to buyers) is showing a definite trend.  The six month average and median seller subsidy are both higher than their twelve month counterparts.  That means sellers are giving more money in closing cost help.

Days on market (marketing time) is showing stability and a quickening of the sales of Reflection homes in Braemar.  The six month average marketing time is shorter than the twelve month average marketing time.  However, the six and twelve month median marketing times are the exact same.  Which is correct?  We have to wait for the next report to find out.

If you placed your Braemar Reflection home on the market, priced to current conditions, you could expect it to be under contract in two to three weeks.  You could also expect to pay about 2% of the sales price in closing cost help.

The next Braemar Reflection Quarterly will be out in January.  Until then, if the need to move arises, don’t count out our year end real estate market.  Give me a call for a free market analysis and I’ll tell why the year end selling season is my favorite market.  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 Property Value Reports: July-August 2018 (Ryan Homes)

Braemar Property Value Reports: July-August 2018 (Ryan Homes)

If it had to be sunny any day this week, it is fantastic to have that weather on Friday.  What a nice end to the work week for folks.  Of course, the work week for this Top Braemar Real Estate Agent is far from over.  I will be out showing property to buyers this weekend in our area.

Right now, it is time for the Ryan Homes installment of the Braemar Property Value Report.  This one covers the sales of Braemar houses built by Ryan Homes in July and August.  Without further delay, let’s get to it.

There were two Ryan Homes that sold in our current reporting period.  One for $429,000 and the other for $476,000.  The particulars of each sale are detailed below:

If we take these two most recent sales and combine them with our rolling twelve months of Ryan Home sales in Braemar, we have the opportunity to take a peek at updated six and twelve month data points.  When we do that, this is what we find:

When we look at the six month average and median sold prices to the twelve month average and median sold price, we want to see increases in the six month values compared to the twelve month values.  That would indicate Ryan Home values are increasing.  Unfortunately, this report gives us exactly the opposite of what we want to see.  Six month average and median sold prices are below the twelve month sold prices.  Not good, but hopefully, not a trend we will see continue.  In Braemar in general, home prices seem to be stabilizing. However, this report could be an early indicator that Ryan Home values are dropping a bit.  We won’t know for certain until we see if this trend continues through to the end of the year.

In the seller subsidy (closing cost assistance) category, we like to see six month average and median values below their twelve month counterparts.  While the six and twelve month median seller subsidy figures are exactly the same, the six month average is below the twelve month average.  That means Ryan Home sellers are giving less closing cost assistance when selling their homes.

Finally we get to days on market, or marketing time, as I like to call it.  The six month average and median marketing times are significantly shorter than the twelve month average and median marketing times.  That means Ryan Homes in Braemar have been selling faster recently.

If you placed your Ryan Home on the market, priced to current conditions, you could reasonably expect it to be under contract in about two and a half weeks…maybe even just one week.  You could also expect to give about one half of one percent of the sales price, or less, in closing cost help to your buyer at settlement.

The next Braemar Property Value Report will be out in November.  Until then, when you want to investigate the sale of your Braemar home and what it would be worth in the current market, call me for a free market analysis.  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 Property Value Report: July-August 2018 (NV Homes)

Braemar Property Value Report: July-August 2018 (NV Homes)

Did you know that as of today, there are twenty-one homes on the market in Braemar? They aren’t all single family homes, like the NV Homes in our neighborhood.  In fact, single family homes priced over $450,000 in Braemar make up ten of those listings.  And it is taking a while to get them under contract.  A quick look at those ten single family home listings in Braeamr over $450,000 tells me that they are averaging thirty-four days on the market….and they haven’t even been chosen yet!    One of the many reasons it is important to hire a Top Braemar Listing Agent.

Right now, this Top Braemar Listing Agent is going to update you as to what’s happened with NV Home resales in our neighborhood between July and August in this edition of the Braemar Property Value Report.  I have made it part of my job to stay on top of our local market.  I don’t know of any other real estate agent that serves Braemar that delves this deep into what’s happening in our neighborhood.

There was only one NV Home in Braemar that sold in during our current reporting period.  It was a Rutherford that sold for $485,000, having been listed for $500,000.  Details of that sale are below:

Not much can be determined by NV Home values by one sale.  That’s why this sale is added to my rolling twelve month store of NV Home sales in Braemar, and six and twelve month values pulled out.  When I do that, here’s what we find:

The trend you want to see in the sold price numbers is higher values in the six month average and median compared to their twelve month counterparts.  That is definitely what we find with NV Home values in the six month values compared to the twelve month values.  That means NV Homes are still pushing up in value.

When it comes to the seller subsidy (closing cost assistance) category, we want to see the opposite.  The best trend for sellers here is to have lower figures in the six month values when compared to the twelve month.  Once again, Braemar NV Home sellers in the last six months have been given less closing cost assistance to their buyers.  Gotta love that.

Days on market, or marketing time, is another category where we like to see more recent numbers trending down, compared to the whole year.  While the six month median value is two days longer than the twelve month median, the six month average value is thirty-one days shorter than the twelve month average.  That big a decrease in average marketing time is a great thing to see.  The two day increase in median value?  Not to worry.

If you placed your Braemar NV Home on the market, priced to current conditions, this report indicates  you could expect it to be under contract in two weeks.   However, at the start of this report, you heard the average days on the market for larger single family homes was thirty-four days for home still lingering on the market.  Who you hire to market your home matters and can affect marketing time and your final sold price.  As for what you could expect to pay in closing cost help, that would be an average of less than 1% of the sales price.

The next Braemar Property Value Report will be out in November.  Until then, when you are ready to sell your Braemar home, hire wisely.  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 Property Value Report: July-August 2018 (Arista Series)

Braemar Property Value Report: July-August 2018 (Arista Series)

It always makes me smile to see the leaves start to change into their brilliant fall wardrobe. The trees on the east side of Native Rocks Drive are always among the first to start going from green to gold.  Of course, I have no idea what kind of trees those are because my specialty is not landscaping, but selling homes.  As a top Braemar Real Estate Agent, it is one of my favorite jobs to periodically look at the most recent sales data and share it with you.

This particular Braemar Property Value Report covers sales of Arista Series homes in Braemar.  Those are the largest homes built by Brookfield Homes and include the Allister, Buckingham and Canterbury floor plans.

Between the months of July and August, only one Braemar Arista home sold.  It was a four level Canterbury with five bedrooms and five and a half bathrooms.  It listed and sold for $599,900 and took only twenty-one days to sell.  Details of the sale are listed below:

To get an updated account of how Arista homes in Braemar are doing overall, we take this sale and put into a rolling twelve month collection of previous Arista home sales.  Then we parse that data out into six and twelve month markers.  When we do that, here’s what we find:

What we want to see in a six month to twelve month comparison in values is increased sold prices in the six month values, and lower seller subsidy (closing cost assistance) and days on market (marketing time) in those six month values compared to the twelve month values.

Looking at sold prices for the Arista Series, the six month average and median sold prices are both above the twelve month average and median sold prices.  That’s great news.  Values for Arista homes are continuing to rise.  However, the seller subsidy figures are higher in the six month average and median, compared to the twelve month average and median.  That means sellers are giving more of their net proceeds to buyers as closing cost help.  As for the marketing time, those numbers give us a mixed picture.  The six month average days on market is higher than the twelve month average days on market, but only by five days.  The six month median is twelve days shorter than the twelve month median.  All in all, those variations show that it is taking about the same amount of time as it has been taking, to sell Braemar Arista homes.

If you placed  your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contract in three weeks to two and a half months.  You could also expect to spend 1.5% to 2% of the sales price in closing cost assistance to the buyer.

The next Braemar Property Value Report will be out in November.  Until then,know that you  can’t start to preparing to sell too early. When you are starting the thought process of moving, give me a call.  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