Braemar Property Value Report: May-June (Courtyard Series)
Seems the only respite we get from the hot and humid weather lately are thunderstorms. Yesterday afternoon’s storm was certainly intense. Seemed it was instant nighttime as I drove to Gainesville to show property. The wind was so strong it was pushing my car into another lane of traffic. Trees were flailing about and buckets of rain were falling out of the sky. Did that stop us from house hunting? No. Inventory all over our area is scarce and buyer demand is high. We hoped that the storm meant other buyers would sit the day out. No such luck. It’s a brutal market for buyers.
What’s happening in the world of Braemar Courtyard homes? Today’s Braemar Property Value Report, focusing on Braemar Courtyard homes, will seek to answer that question. If you aren’t sure what a Braemar Courtyard home is, they 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.
While there were no new sales of Braemar Courtyard homes in the months of May and June, we do have a change to drop the sales from last May and June and freshen up our six and twelve month data points. Updated values can be found below.
As you may recall, the last sale we had in our Courtyard Series Braemar Property Value Report was a Courtyard home on a more traditional lot. That is the only sale represented in the six month data points. Therefore, I’m hesitant to use its value as an absolute for current Courtyard home trends.
What I can tell you across most recent Braemar real estate sales is this:
- Homes are increasing in value
- Seller subsidy (closing cost credit to buyers) is shrinking
- Marketing time is faster
If you placed your Braemar Courtyard 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 give about 1.5% of the sales price in closing cost help, if you have to give any at all.
The next Braemar Property Value Report will be out in September. Until then, if the time has come to sell your Braemar Courtyard home, give me a call for the most accurate market analysis of your home’s value in today’s strong seller’s market. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate