Braemar Townhouse Report: May-June 2017

Braemar Townhouse Report:  May-June 2017

Not every agent that sells real estate in Braemar, keeps their finger on the pulse of the market.  One of the things I love about doing my Braemar market reports is that it keeps me informed of our neighborhood market to keep YOU informed about it.  And doing these reports since 2005 has really helped me understand what makes our neighborhood real market tick.  That knowledge I have acquired through constant compiling of Braemar real estate data makes selling my Braemar listings that much faster and more profitable for my sellers.

This particular report is the Braemar Townhouse Report.  In it, I break down the sales of traditional townhouses in Braemar for the months of May and June.  And just to clarify what a traditional townhouse is, it is one with three levels, a backyard and is NOT condo ownership.

There were twenty-one Braemar townhouses sold in the last two months.  Their sold prices ranged from $280,000 to $359,900.  Each sale is detailed below:

When we combine these most recent Braemar townhouse sales with our rolling six month and twelve month value data points, this is what we find:

Both the six month median and average sold prices are above their twelve month counterparts.  This means values of Braemar townhouses are going up.  More good news is that seller subsidy (closing cost assistance to a buyer) has gone down from the twelve month median and average values, to the respective six month values.  Even marketing time in the six month values has come down ever so slightly.

If you placed your Braemar townhouse on the market, priced to current conditions, you could reasonably expect it to be under contract in one to two weeks.  You could also expect to pay about one percent of the sales prices in closing cost help to your buyer.

The next Braemar Townhouse Report will be out in late September.  At that point we will be looking at activity from the months of July and August.  Until then, if you want to know how recent sales have affected your specific Braemar townhouse, give me a call at 703-402-0037.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland

Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com 

Braemar Townhouse Report: March-April 2017

Braemar Townhouse Report:  March-April 2017

After days of cloud cover and rain, I can honestly say that I would never last in the Pacific Northwest climate.  Sunshine is essential to my existence.  And I’m so happy to see the sun shining away in Bristow today.  Makes it very tempting to go outside and play hooky, but I’m not doing that.  Nope.  This Braemar Real Estate Agent knows that my fellow Braemar residents expect my market reports before the end of the month.  So here I am, putting out the last of May’s reports with the March-April edition of the Braemar Townhouse Report.

There were eleven Braemar townhouses that sold between the months of March and April.  The highest sold price was $358,500 and the lowest sold price was $250,000.  Throwing these eleven sales into our rolling six and twelve month averages gives us some good insight.

When looking at the more immediate market  (the six month values) and comparing it the longer term (the twelve month values) we see that Braemar townhouses are still going up in value.  Both the six month average and median sold prices are higher than the twelve month average and median sold prices.  It even looks as though the six month seller subsidy numbers are decreasing, but marketing time may be increasing.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in about ten to seventeen days.  You could also expect to give about $4,200 in seller subsidy.

The next Braemar Townhouse Report will be out in July.  At that point we’ll look back to sales from May and June.  Until then, when you are ready to sell your Braemar townhouse, give me a call at 703-402-0037 for a free market analysis.  Since 2005, No One Knows Braemar Better.

Chris Ann Cleland

 Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

Braemar Townhouse Report: January-February 2017

Braemar Townhouse Report: January-February 2017

Been wondering what your Braemar townhouse is worth?  Well, this edition of the Braemar Townhouse Report is sure to help get in the ball park of your townhome’s value.  In this report, we are looking back to the first two months of 2017.

Between January and February there were three Braemar townhouses that sold.  Details of those sales are shown below.

Three sales aren’t very many for a two month period when it comes to Braemar townhouse sales.  Simply put, there just weren’t any others on the market.  Hence the low marketing time (DOM.)  And there is no doubt that some of these townhouses likely faced multiple offers.  Let’s see how the sales detailed above jive with the six and twelve month average and median values.

All but one of the sales are well above the six and twelve month average and median sales prices.  The closing cost assistance (seller subsidy) in two of the three cases are well below the average and median values.  Best news yet, the marketing time in all three sales are lower than even the lowest marketing time, found in the twelve month mediam marketing time.

When comparing the six month sales prices to the twelve month prices, we see a tick up in average value, but median value remaining steady.  My Braemar real estate gut is telling me that our townhouse values are on the rise.  By next report, I expect to see a larger difference in the six and twelve month values.

If you placed your Braemar townhouse on the market, priced to current conditions, you would likely be under contract in about a week or less.  And hopefully, the trend of lower seller subsidy continues.  Worst case, from the six month median value, you could expect to give just under $6,000 in closing cost assistance.

The next Braemar Townhouse Report will be out in May.  At that point in time, we’ll be able to throw in the sales data from March and April and see how things are looking.  Until then, give me a call for the best results when selling your Braemar townhouse.  Since 2005, No One Knows Braemar Better.

Chris Ann Cleland, Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

Braemar Townhouse Report: November-December 2016

Braemar Townhouse Report:  November-December 2016

What a week it has been!  I feel like it’s May and I haven’t seen my husband or talked to Braemar Townhousemy friends in days.  That’s what happens when buyers and sellers come back out of hibernation.  Even though we still have some winter ahead of us, the activity I am seeing tells me that now is the time to capitalize on Braemar buyers who are out and about.  Right now, let’s go back to the last two months of 2016 for a look at the sales activity for Braemar townhouses in this edition of the Braemar Townhouse Report.

There were eight Braemar townhouses that sold between the beginning of November and end of December.  Their prices ranged from $275,000 to $335,000.  The average of all eight gives us our new average market value for Braemar townhouses of $310,475.  That’s over a 5.5% increase since last report and over a 12.5% increase in average value since last year.

Braemar Townhouse Report: November-December 2016

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in an average of 24 days.  You could also expect to shell out an average of 2% of the sales price in closing cost help for your buyer.

Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037The next Braemar Townhouse Report will be out in March and will focus on the first two months of 2017.  Until then, if you want to get the jump on the spring market, call me for a free market analysis of your specific Braemar home’s worth.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland

 Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com 

Statistics compiled using the MRIS (Metropolitan Regional Information Systems.

Braemar Townhouse Report: September-October 2016

Braemar Townhouse Report:  September-October 2016

This weekend after Thanksgiving, I have seen a lot of holiday decorations going up Braemar Townhousein Braemar.  I’ve even seen some Christmas trees in windows.  Just when you think the rapid approach of night is getting you down, holiday lights make it not just bearable, but happy.  Let’s enjoy them while we can,

Right now, it is time for another Braemar Townhouse Report.  This one will focus on sales activity from the months of September and October.  So without further delay, let’s get to it.

There were eight Braemar townhouses that sold between September and October.  Their sold prices ranged from $245,000 to $335,000.  The reason for the large price range is the difference in size of these townhouses.  Some may be two bedroom models with about 1400 square feet.  Others may be three bedroom models at 2100 square feet.  The average of all of the sales gives us our new average market value for Braemar townhouses of $293,913.  That is a very small decrease in average value since last report (only $464 difference,) but an increase in average value of nearly 2% since last year.

Braemar Townhouse Report:  September-October 2016

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in an average of twenty-three days.  You could also expect to give nearly 2% of the sales price in closing cost help for the buyer.

The next Braemar Townhouse Report will be out in January and will focus on sales from November and December.  Until then, when you are ready to sell your Braemar townhouse, give me a call for a free market analysis.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037Chris Ann Cleland

 Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com 

Statistics compiled using the MRIS (Metropolitan Regional Information System

Braemar Townhouse Report: May-June 2016

Braemar Townhouse Report:  May-June 2016

As I type this report, I am trying to revive my crispy, brown lawn with a sprinkler.  If I soak it a few days, maybe it will start to come back to life.  One of the things I hate about Townhouse with Garage in Braemarour summers here in Bristow is that our grass goes dormant if you don’t constantly water.

One thing is for sure, our Braemar real estate market hasn’t gone dormant.  In this edition of the Braemar Townhouse Report we’ll look at the sales activity for the months of May and June, as we headed into these dreadfully hot summer months.

There were thirteen sales of Braemar townhouses between the beginning of May and the end of June.  The high sold price was $338,000.  The low sold price was $260,000.  When you average all thirteen sold prices you get the new average market value of $305,031.  That’s over a 2% increase in average market value since last report and over a 2.5% increase in average market value since last year.  The Braemar townhouse market is hopping!

Braemar Townhouse Report: May-June 2016

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in an average of sixteen days.  You could also Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037expect to pay an average of about 1.5% of the sales price in closing cost help to the buyer.

Chris Ann Cleland, Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.comwww.UncompromisingValues.com

 

Statistics compiled using the MRIS (Metropolitan Regional Information Systems.)

Another Three Bedroom Braemar Townhouse SOLD!

Another Three Bedroom Braemar Townhouse SOLD!

On March 31st (2016,) in the late hours of the evening, I uploaded my latest listing into our multiple listing service.  With practically no townhouses on the market in the 12164 Drum Salute Place sold for $340K on June 9, 2016Bristow area, let alone in Braemar specifically, I knew this three bedroom townhouse at 12164 Drum Salute Way was not going to last.

When the Seller and I had meet to go over comparable sales and pick a list price, the low inventory played a key factor.  If there is ever a time when you can push the envelope and get a higher value for your home, it is when there is no competition.  The recent sales showed that like homes had sold for around $325,000.  The Zestimate on Zillow showed a price of $308,757.

My Seller had replaced virtually everything inside in the townhouse in recent renovations, down to the toilets.  She had a wooded lot, fenced yard, stamped concrete patio, wood deck with retractable awning.  She had even painstakingly planted mini-shrubs called mondo grass so she would never have to mow.  Taking the top of the line condition and the lack of competition into account, we landed on a list price of $335,000.

Kitchen--12164 Drum Salute

Within two days we had an offer and threats of more.  While I work at the discretion of my clients, I never advise a Seller to wait and collect offers.  You may lose the early offers you got due to frustration in the lack of response.  And, let’s face it, you can only sell to one person anyway.  Don’t like the offer you got?  Counter it.

My Seller didn’t have to counter.  She had an offer for $345,000 with a request for $10,000 in closing cost help.  She was happy to sign it with only one request, a settlement date in early June vs. mid-May.  The Buyers agreed and just like that, this Braemar townhouse was under contract.

LR Bay Window--12164 Drum Salute

We were all a bit nervous about the appraisal.  Remember when I said comparable sales showed like townhouses sold for $325,000?  That matters to appraisers.  I pulled comps, talked about the market conditions and gave the long list of updates/upgrades to the appraiser.  A week later, I had to call the Seller and tell her the appraisal had come in lower than our sales price, at $340,000.  Because we had the ultimate expectation of $325,000, we both saw it the same way, we were still ahead.

On June 9th, this three bedroom townhouse in Braemar closed for $340,000.  The Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037Buyer still got their closing help and the Seller was able to set the highest sales price in the neighborhood for a townhouse since the fall of 2007, keeping values in our neighborhood rising.

When you are ready to sell your Braemar home, make the most of your only opportunity to get the maximum equity and give me a call.  No One Knows Braemar Better!

Chris Ann Cleland, Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.comwww.UncompromisingValues.com