Braemar Townhouse Report: May-June 2020

Braemar Townhouse Report: May-June 2020

Bringing up the rear in the most recent batch of Braemar real estate market reports is the Braemar Townhouse Report.  This particular report covers the most recent sales of traditional three level Braemar townhouses with back yards in the months of May and June.

Between May 1st and June 30th, there were eight Braemar townhouses that sold.  Their final sold prices ranged from $300,000 to $374,000.  The details of each one are listed below.

Taking the most recent sales above and combining them and with the entire past twelve months of Braemar townhouse sales, our six and twelve month data points are updated as seen below.

Starting with everyone’s favorite first stop, 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 sold prices.  This means Braemar townhouses have continued to gain value.

The seller subsidy column is where we get to see, on average, how much closing cost assistance Braemar townhouse sellers have been giving to buyers.  It is no surprise to see both the six month seller subsidy value points lower than their twelve month counterparts.  In the current market, with such high demand and limited inventory, it is no surprise that closing cost requests by buyers are shrinking as they compete to have their offers accepted.

Finally, days on market reveals another trend consistent with a strong seller’s market.  Both the six month average and median marketing times are shorter than their twelve month counterparts.  Braemar townhouses are flying off the shelves.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in less than a week. You could also reasonably expect to pay 1% of the sales price or less in seller subsidy.

The next Braemar Townhouse Report will be out in September.  Until then, if you want to take advantage of the record setting sales prices in our neighborhood, give me a call.  My expertise is getting Braemar sellers top dollar for their home, no matter the market.  Sadly, even in a seller’s market, poor preparation and poor marketing can have sellers leaving money on the table.   That won’t happen 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

 

 

Yet Another Braemar Townhouse SOLD

Yet Another Braemar Townhouse SOLD

Earlier this year, I sold 9619 Innerwick Place in Braemar.  It was a nice surprise when the neighbor at 9617 Innerwick Place called me to list her townhouse shortly before her end unit neighbor closed.  While I took the listing in early February, it didn’t hit the market until May.  The seller took the listing preparation notes that I had given her and got to work to get the maximum dollar amount for her home.  A quick discussion about selling “as-is” made her realize the work to ready the home was worth the money she would make.

On May 13th, this interior unit townhouse hit the market priced at $375,000.  It only took three days before multiple offers were there for the seller to review.  The one that she ratified went to settlement on June 29th.  It was a full price sale at $375,000 and the seller didn’t have to give any closing cost help.

Right now, despite the pandemic, the Bristow real estate market is hot.  Sellers are in control as there is more buyer demand than there are homes to sell them, particularly in properties that attract first time buyers.  If you have a Braemar townhouse you want to sell, give me a call to find out how I can get you top dollar while marketing your home with safety as a top priority.  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

Braemar Townhouse Report: March-April 2020

Braemar Townhouse Report: March-April 2020

Hard to believe that we are nearly in June.  Time flies, even when you are under a shelter-in-place order.  My goal is to always get my Braemar market reports out before the end of the odd numbered months.  There is no question I’m cutting that self-imposed deadline close by publishing this edition of the Braemar Townhouse Report on May 30th.

This particular Braemar Townhouse Report covers sales of traditional townhouses in Braemar during the months of March and April 2020.  For the purposes of this report, a traditional townhouse is one that is attached on the sides, is three levels and has a back yard.

During this current reporting period, there were fourteen Braemar townhouses that sold.  The details of these sales are listed below:

One of the first things you notice above is that the second sale listed is highlighted in pink. Whenever I personally list and sell a home, I highlight it for you to see that I do more than property reports.  I help a lot of Braemar home sellers.  In this particular sale, the sellers were on their second contract.  They had a higher price with no seller subsidy with their first buyer, but when you get someone who gives you exactly what you want, beware the home inspection.  It was over the top with requests.  So the sellers made an offer, but the buyer voided.   That left the sellers to go back to their back up offer.  Again, a higher offer than noted here, but appraisal had it coming it below the sales price offered.

Taking these fourteen Braemar townhouse sales and combining them with the entire past twelve months of sales, our six and twelve month data points are updated as seen below.

The sold price column looks great when you see that both the six month average and six month median sold prices are higher than their twelve month respective values.  This means Braemar townhouses are still gaining value.

In the seller subsidy column, we find more good news for Braemar townhouse owners that may be thinking of jumping into the market very soon.  Seller subsidy is also known as closing cost help to buyers.  Both the six month average and six month median values are below their respective twelve month values.  That means Braemar townhouses owners, on the whole, have been giving very little, if any, seller subsidy when entering contracts.

Finally, when it comes to days on market,  or marketing time as I like to call it, we see another great trend for Braemar townhouse sellers.  The six month average marketing time is 10 days shorter than the twelve month average marketing time.  The six month median marketing time (only 4 days) is 2 days shorter than the twelve month median marketing time.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in about a week.  You could also expect that you would give 1% of the sales price or less in seller subsidy.

The next Braemar Townhouse Report will be out in July.  Until then, know that our Braemar real estate market is as strong as ever.  Our buyer demand is not being met by the supply of homes, which means we are still experiencing seller market conditions.  If you want to sell, now is a great time to do it…pandemic and all.  Give me a call and I’ll be happy to talk with you about my marketing techniques and the new COVID showing precautions I’ve had my sellers put in place to remain safe while their home is on the market.  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

 

Braemar Townhouse Report: November-December 2019

Braemar Townhouse Report: November-December 2019

Bringing up the rear in latest editions of Braemar market reports is this Braemar Townhouse Report.  This particular report looks back to sales of traditional townhouses in Braemar during the months of November and December 2019.  Let’s get right to it.

There were six Braemar townhouses that sold during the last two months of 2019.  Their sold prices ranged from $315,000 to $385,000.  The details of each sale are listed below.

Combining all six of these sales with the entire year’s worth of Braemar townhouse sales from 2019, our six and twelve month data points are updated as follows:

Looking first at the sold price column, we see that the six month average is only fifteen dollars less than the twelve month average.  That would indicate stability in Braemar townhouse prices.  However, looking at the six month median sold price being three thousand higher than the twelve month median, we are left with information that Braemar townhouses are continuing to push up in value.  Having recently listed a Braemar townhouse, I can tell you that demand is there to keep prices going up.  We’ll see what our next report shows us.

Next up is the seller subsidy column.  Seller subsidy is also known as closing cost help to buyers.  Both the six month average and six month median seller subsidy values are above their respective twelve month values.  This means, in the more recent sales, Braemar townhouse buyers are asking for, and receiving, increasing amounts of closing cost help.

The last column is days on market, or as I like to call it, marketing time.  Here we see that marketing time has ticked up in the six month values compared to their twelve month counterparts.  I call tell you from recent listing experience, Braemar townhouses are in high demand.  I expect to see this number fall in our next report or two.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in no more than two to three weeks.  You could also expect to pay about 1.5% of the sales price in closing cost help.

The next Braemar Townhouse Report will be out in March.  Until then, if you have been waiting for the spring 2020 market to list, spring has already sprung.  Demand is there, but your competitors are not.  Now is the time to get going.  Give me a call and let’s talk price, timing and marketing to get you the absolute most the market will bear.  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

Braemar Townhouse Report: September-October 2019

Braemar Townhouse Report: September-October 2019

It is a good thing that I’m not an avid retail shopper.  If I were, being under the weather on Black Friday would be torture.  As it stands it is a rather convenient day for a Top Braemar Real Estate Agent to get sick because this is not a prime real estate day.  What it is a great day for is to share with you my latest Braemar Townhouse Report.  This one details the sales of traditional Braemar townhouses during the months of September and October.  And in case you were wondering, a traditional townhouse is one that has three levels, is attached only on the side (s) and has a slight backyard.

There were ten Braemar townhouses that sold during our current reporting period.  Sold prices ranged from $300,000 to $385,000.  The details of all ten sales are listed below:

Taking all of these sales and combining them with the entire past twelve months of Braemar townhouse sales, our six and twelve month data points are updated as follows:

Starting with sold prices, it is great to see that both the six month average and six month median sold prices are above their respective twelve month values.  This means that Braemar townhouse values are continuing to push up.

Unfortunately, we also see an across the board increase, though not dramatic, in the seller subsidy column.  Seller subsidy is closing cost help that sellers give buyers in a sale.  Both the six month average and six month median are higher than their respective twelve month values.  This means Braemar townhouse buyers have been asking for, and receiving, more closing cost help from sellers.

When it comes to days on the market, there has been no change in marketing time from the six month median to the twelve month median values.  Meanwhile, the six month marketing time is only one day shorter than the twelve month marketing time.  Braemar townhouses are selling as fast as they have been the last year.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to take no more than four weeks to go under contract.  You could also expect to pay about 1.5% of the sales price in closing cost help.

The next Braemar Townhouse Report will be out in January.  Until then, I wish you every happiness this holiday season.  Of course, if the need arises to sell your Braemar townhouse before the next report, don’t hesitate to call, text or email me. I sell homes for top dollar no matter the season.  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

Braemar Townhouse Report: July-August 2019

Braemar Townhouse Report: July-August 2019

B

What gorgeous days we have had this week!  I’ve been out getting two new listings ready for market.  Time to sit back at my desk and bring up the rear of the Braemar Property Value Reports with the final in this series, the Braemar Townhouse Report.

This particular report focuses on traditional Braemar townhouse sales between the months of July and August.   Traditional townhouses, for the sake of this report, are three level townhouses, not condo ownership, with back yards.

There were were nine townhouses that sold during our current reporting period.  Final sold prices ranged from $260,000 to $379,000.  Quite a range of prices.  Here are the details of all nine sales:

Taking all of these most recent sales and combining them with the entire last twelve months of sales, we get updated six and twelve month data points which give us an idea what direction the market is heading.  Below are the updated six and twelve month  values:

Looking first at the sold price column, we find that both the six month average and six month median sold prices are above their twelve month respective values.  This means Braemar townhouse values are still increasing.

When we look at the seller subsidy, also known as closing cost help to buyers, we see that the amounts given in both the six month average and median were below the amounts in the twelve month counterpart.  Buyers are asking for less closing help to compete in this market.

Finally, when it comes to days on market (marketing time) we find another seller favored trend.  Both the six month average and six month median marketing times are below their twelve month comparative values.  This means Braemar townhouses have been selling even faster.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement in about three weeks.  You could also expect to give about 1% of the sales price in closing cost help.

The next Braemar Townhouse Report will be out in November.  Until then, if you have been considering selling your Braemar townhouse and moving up, give me a call and let’s talk market conditions and logistics.  Braemar real estate is what I know best.  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

Braemar Townhouse Report: May-June 2019

Braemar Townhouse Report: May-June 2019

BWelcome to the Braemar Townhouse Report!  This is the last of the Braemar Property Value Reports that I compile to keep Braemar home owners up to date on what is happening in our real estate market.  This particular report covers the sale of traditional townhouses in Braemar that are NOT condos, have three levels and a back yard.

There were eighteen townhouses in Braemar that sold between the beginning of May and end of June.  Final sold prices ranged from $270,000 to $385,000.  The details of those sales are listed below in chronological order.

Adding these eighteen sales with the previous twelve months worth of Braemar townhouse sales, our six and twelve month data points are updated as you see below.

Starting with the sold price column, we immediately see a great trend.  The six month average and six month median sold prices are both above their respective twelve month data points.  That means Braemar townhouses are still pushing up in value.

Seller subsidy, a.k.a. closing cost help to buyers, shows another trend favorable to Braemar townhouse sellers.  Both the six month average and median seller subsidy amounts are lower than their twelve month counterparts.  This means buyers are asking for less closing cost in this competitive market when demand is high and inventory is low.

Days on market, or what I call marketing time, is an unreliable category since the change to our new MLS in November 2018.  Our previous MLS stopped counting days on market no matter what contract status a listing agent chose for a listing.  It truly told us how long it took to go under contract.  Our new MLS has two different contract statuses and each one stops counting days on market at a different point.  One when a property goes under contract, another when the buyer’s contingencies have been removed.  If we took these numbers at face value, it seems that the six month average marketing time is a little longer than it has been in the longer term, twevle month average.  The six month median marketing time is only one day longer than the twelve month median marketing time.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement within two to four weeks.  You could also expect to pay out about 1% of the sales price in closing cost help.

The next Braemar Townhouse Report will be out in September.   Until then, when the time comes to sell your Braemar townhouse, call me for the best results.  Selling Braemar homes for top dollar is my specialty.  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

 

Braemar Townhouse Report: January-February 2019

Braemar Townhouse Report: January-February 2019

It is time for another Braemar Townhouse Report.  This particular edition features sales of traditional townhouses in Braemar during the months of January and February.

There were four Braemar townhouses that sold during the first two months of the year.  Final sold prices ranged from $318,000 to $345,000.  Details of the sales are listed below.

Taking these four sales and combining with the previous year’s worth of Braemar townhouse sales, new six and twelve month data points come to light.  Here’s what we have now:

Let’s start examining the sold price data. Both the six month average and median are notably below their twelve month counterparts.  This would be an indication that, in the more recent past, Braemar townhouses have been decreasing in value.  However, all but one of the four most recent sales are above the six month average and median sold prices.  The same doesn’t hold true across the board when we take the three highest Braemar townhouse sales reported for January and February and compare them with the twelve month average and median.  Only one of those most recent sales is higher than the twelve month median sold price.  Three are still above the twelve month average though.  While indicators are there that townhouse prices might be softening, we need more reports to see for sure if this is a blip or trend.

Seller subsidy is definitely on the rise.  Both the six month average and median seller subsidy values are greater than the twelve month seller subsidy values.  This means Braemar townhouse sellers are giving more closing cost assistance in the most recent sales to their buyers.

Comparing six month average and median days on market to the twelve month counterparts, we see a spike in average and median marketing times compared to the twelve month values.  Don’t panic.  In November we switched to a new MLS system that stops counting days on market at a much different point, which is well into the transaction.  It is no longer when your townhouse goes under contract.  It will be a full year’s worth of data before we have an apples to apples comparison here if the new MLS does not change their marketing count method.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement in about a month.  You could also expect to give about 1.5% of the sales price in closing cost help to your buyer.

The next Braemar Townhouse Report will be out in late May.  Until then, when the sale of your Braemar townhouse looks like it is approaching, give me a call and we’ll start with a free market analysis of your home’s value in the current market.  From there, we’ll develop the best strategy to meet your home sale timeline and goals.  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

 

 

Braemar Townhouse Report: September-October 2018

Braemar Townhouse Report: September-October 2018

Bringing up the rear in this round of Braemar Property Value Reports is the Braemar Townhouse Report.  My self-imposed deadline for getting each report online is the last day of the month, following the second month in the reporting period.  So today is my deadline.  Whew!

This Braemar Townhouse Report focuses on sales of traditional three level townhouses with a backyard in Braemar for the months of September and October.  During that period, there were eight townhouse sales in Braemar.  Sold prices ranged from $275,000 to 365,500.  The details of those sales can be found below:

Taking these most recent sales and updating the last year’s worth of sales data of Braemar townhouses with them, we get new six and twelve month data points to look over.  Here’s what we find:

Every Braemar townhouse owner’s first interest is naturally going to be the sold prices.  The good news is that, even though it is by just a little, the six month average and median sold prices are both above the twelve month average and median sold prices.  Braemar townhouse values are still inching up.

When it comes to seller subsidy (closing cost assistance to buyers), the six month average and median numbers show an increase over the twelve month average and median values.  This means Braemar townhouse owners are giving more money in closing cost help.

Days on market, oddly enough, is unchanged whether you look at the average or median values from twelve months to six months.  Selling a Braemar townhouse is not taking any longer, or happening any faster.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it be under contract in a little over a month.  You could also expect to give nearly 1.5% of the sales price in closing cost help.

The next Braemar Townhouse Report will be out in January.  Until then, if you would like to begin receiving this report emailed directly to you, send me an email at ChrisAnn@LNF.com.  All I need is your property address and email address where you would like the report delivered.

Before the next report, if you find yourself needing to sell, give me a call 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 Townhouse Report: July-August 2018

Braemar Townhouse Report: July-August 2018

Putting together these Braemar real estate market reports is something I have been doing since 2005.  My intention is always to get them ready for the previous two months, as soon as the second of those months has ended.  Realistically, that means waiting until the middle of the month following the last month of the reporting period.  In this case, mid-September is when I started gathering data for this particular report.  Unfortunately, not every agent that lists and sells a home in Braemar works the same.  Some agents won’t invest in professional photography.  Others won’t meet appraisers at their Braemar listings to make sure the home appraises for sales price and you won’t have to lower your price.  And yes, some wait weeks to report when a sale closes.  The latter impacts me and my ability to report the latest in Braemar sales.  The other two, well, those impact seller’s final sold prices.

Bringing up the rear in the string of Braemar real estate reports is the Braemar Townhouse Report.  This report focuses on the last two months of Braemar townhouse sales.  And a Braemar townhouse, for the purposes of this report, is three level, attached structure with a fence-able backyard.  In other words, a traditional townhouse.

There were sixteen Braemar townhouses that sold during the months of July and August.  The low sold price was $285,000 and the high sold price was $370,000.  The details of these sales are listed below:

When we take these sixteen sales and replace the sales from July and August 2017 in our rolling twelve month pile of data regarding Braemar townhouses, here is what we find/:

The six month average and median sold prices are well above the twelve month average and median sold prices.  That means Braemar townhouse values are continuing to increase.  I’m just as happy to report to that the six month average and median seller subsidy (closing cost help from sellers to buyers) is lower when compared to their twelve month counterparts.  That means Braemar townhouse sellers are having to give less in closing cost help.  Finally, the six month average and median days on market (marketing time) is lower when compared to the twelve month average and median.  Braemar townhouses have been selling even faster lately!

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in a week or so.  You would also expect to give about 1% of the sales price in closing cost help to the buyer.

The next Braemar Townhouse Report will be out in November and will detail sales from September and October.  Until then, when you are ready to sell your Braemar townhouse, please know that this Top Braemar Listing Agent hires professional photographers, does light staging, meets appraisers at your property and much more to get you the most you can when selling your largest asset.  You only get one shot at selling your home.  There are no do-overs.  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