Braemar Townhouse Report: November-December 2021

Braemar Townhouse Report: November-December 2021

As we all brace for the impending winter storm, I am comfortable in my home office doing what I do best–real estate! The business of real estate is one that can be taken as seriously as the individual agent practicing it sees fit. Braemar real estate isthe foundation of my business. Bringing you the latest market information is something I take very seriously. This are not copy and paste reports. I run the data and compile it myself.

Today, rounding up the last of the year end reports for 2021, is the Braemar Townhouse Report. The properties that this report pertains to are traditional three level townhouses with front and back yards, attached side to side only. They are not to be confused with Braemar Condos, but you can find the report for the Braemar Condo townhouses by clicking this link.

There were six Braemar townhouses that sold during the last two months of 2021. The year market is not to be dismissed. The details of those sales are listed below:

Of the six sales, one is highlighted in pink. That is because it was my listing. You can read the details in the post I wrote about that sale. What is evident looking at all six sales is that most are selling at a minimum of a list price, the majority gave no closing cost help and they all sold in a matter of days. However, it is only when taking all of 2021’s Braemar townhouse sales and compiling updated six and twelve month market reports that we get to see trends.

Starting in the sold price column, we see only the six month average is higher than its respective twelve month value. The six and twelve month median values are the same. Furthermore, the growth rate of Bramar townhouses in the average has slowed. This report the six month average is 1.5% higher than the twelve month average. Last report, that was a 3.6% difference. The median last report was a 3.3% difference vs. zero this report. The second half of 2021 was not as frenzied as the first half. Buyers slowed their pace once summer vacations started and it never really got as insane as it had been earlier in the year.

Seller subsidy is something we have not seem much of in regard to Braemar townhouses. The average numbers are the only ones with anything to report and the averages are miniscule. Out of seventy-three sales, only six gave any closing cost help in 2021. One was a townhouse where I represented the buyers. Another was the one this report where I represented the seller. In the case of the one where I represented the buyers, we went in with the request because of the condition of the home. In the one on Selkirk listed above in pink, the buyer came in with no seller subsidy requests, but had a list of demands come home inspection. Rather than ditch them and move on to another buyer, my seller decided to strike a deal with them. Thankfully, we were able to negotiate that down to less than they requested.

Days on market shows that the time it took in the six month average and six month median, compared to their respective twelve month values, increased by one day. That is nothing to worry about.

If you put your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in about one week. You could also reasonably expect to give nothing in closing cost help. However, you could expect to see the typical contingencies in your offers. Those are financing, appraisal and home inspection.

The next Braemar Townhouse Report will be out in March. Until then, if you want to know what is in store for the 2022 market, you can read my predictions by clicking this link. If you want more personalized information for an impending move, get in touch. My neighborhood knowledge, combined with my professional marketing, makes my Braemar sellers very happy. 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 Townhouse Report: September-October 2021

Braemar Townhouse Report: September-October 2021

December will be here in a couple of days. While you might think the Braemar real estate market would have nothing to offer this time of year, I am pleased to say that the yearend selling season is one of the best around. Serious buyers are out at a time that stresses “home for the holidays.” The emotions of the season certainly help sell homes. Better yet, many sellers wait for spring, leaving fewer homes for those serious buyers to chose from. My real estate business has thrived this time of year and continues to do so. Of course, I always make time to keep Braemar home owners apprised of market conditions in the property value reports I prepare. Today I bring you the Braemar Townhouse Report, focusing on sales of traditional three level townhouses in Braemar, attached side to side only.

During the current reporting period of September and October, there were thirteen Braemar townhouses that sold. The details of those sales are below:

Looking at these sales we see all thirteen sold at, or above their list price. All but one gave no seller subsidy (closing cost help to buyer.) Meanwhile the sales that closed in late September and into October had higher days on market. Taking these sales and combining them with the entire past twelve months of Braemar townhouse sales we will get a better snapshot of current trends in the townhouse market when the data points tracked in this report are updated.

Looking at the sold price column, Braemar townhouses are continuing to gain value. Both the six month average and the six month median sold prices are higher than their respective twelve month sold prices. This is proof of the continued seller’s market. The rate of increase in value has slowed slightly since last report, but not enough to be concerned about. Both the six month average growth rate and six month median growth rates are down 0.3% since July and August.

Seller subsidy shows a decrease in the six month average compared to the twelve month average. Meanwhile, with the six and twelve month median values both at zero we know that in both time periods, more than half of Braemar townhouse sellers gave no closing cost help. Another hallmark of a seller favored market.

Days on market, despite the upward trending numbers in the two months worth of most recent sales, shows no serious change. When looking at the six month average and median marketing times compared to the corresponding twelve month values, Braemar townhouses are still going under contract in about a week or less.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it could be under contract in about a week. While some of the most recent sales on the calendar suggest it may take a bit longer, my most recent Braemar townhouse listing went under contract in only five days this November. You could also expect you could escape any seller subsidy requests since buyer demand is still outpacing supply. However, the second half of the year has shown buyers less willing to waive contingencies like home inspection and appraisal. The all-out buyer frenzy has cooled, though the market remains a seller’s market.

The next Braemar Townhouse Report will be out in January. Until then, I do hope the holiday season brings you peace and happiness. Of course, anytime the need arises to sell your Braemar townhouse, I am here with all of my neighborhood expertise, professional marketing and superior negotiation skills to help you make the absolute most you can from your home sale. Unfortunately, even during a seller’s market, money is too often left on the table. Hiring a local professional will help you increase buyer enthusiasm and maintain it throughout the process. Helping Braemar sellers is my specialty. Get in touch with me for a no obligation consultation. 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

How Long Does It Take to Sell a Braemar Townhouse in November?

12423 Selkirk Circle in Braemar was Under Contract in Only 5 Days

How Long Does It Take to Sell a Braemar Townhouse in November?

When I met with my seller-client last night to go over the offer she received on her townhouse at 12423 Selkirk Circle, she laughed on the way out that a friend of hers had heard about her listing in November. Apparently, my seller was given the dismal prediction by this friend that she “might sell by March.” I don’t know the last time I saw a home take four months to sell. Needless to say, her friend was not a Bristow real estate agent.

While the 2021 Bristow real estate market has slowed down considerably, we have yet to hit what are considered stable conditions. A stable real estate market exists when there is enough inventory to meet buyer demand. In other words, the market favors neither side. Sure July and August saw the decline of crazy number of offers on homes, but multiple offers were still present. Dozens of offers? Not so much. There are still more buyers than homes for sale. Buyers have just taken a deep breath and are not acting in a frenzy.

The great thing about selling at the end of the year is that only serious buyers are house hunting. And the house hunt is occurring a very emotionally charged time of year. Home for Holidays is a real phenomenom.

The townhouse at 12423 Selkirk Circle hit the market on November 11th, priced at $375,000. Some agents the seller interviewed thought that price was high. Not when you put in the work to create buyer enthusiasm. The seller did her part by making sure the home was clean and prepped, as much as possible, for market. (There was a point where she couldn’t find the right color touch up paint for some minor drywall repairs.) Luxury vinyl plank flooring was installed in the bathrooms to lift the outdated appearance given by the one sheet vinyl flooring that had been present. New carpet was installed. Repairs made like replacing the garbage disposal and fixing a leaky toilet. Then it was my turn to go in and fluff with some light staging.

While there were no multiple offers on this one, in only five days on the market the seller got a very strong offer and is delighted. It will close just before Christmas, so stay tuned for the final details. In the meantime, if the time comes to sell your Braemar home in the colder month, don’t believe the hype that spring is the only season where sellers can be successful. The year end market has more serious buyers and fewer homes for them to choose from. And with the professional marketing of a fantastic local agent like myself that has seen the magic of the year end market, you can’t lose. Get in touch with me and let’s set up a time to talk. 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 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 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 Townhouse Report: November-December 2020

Braemar Townhouse Report: November-December 2020

Hard to believe we are almost one month into 2021. Time flies. Of course, with 2020 closed out, it is time to look back at the Braemar townhouse market and see how things ended last year with respect to property values and other real estate market indicators. Let’s get right to it.

During the months of November and December there were nine Braemar townhouses that sold. The details of those sales are listed below.

Combining these most recent sales with the entire year’s worth of Braemar townhouse sales, our six and twelve month data points are updated as seen below.

Looking at both six month sold prices compared to their respective twelve month sold price, we see both six month values being higher than the twelve month values. This means Braemar townhouses are continuing to increase in value in this seller’s market.

Seller subsidy is where we get to see how much closing cost assistance Braemar townhouse buyers negotiated from their sellers. The six month average seller subsidy is a little below the twelve month average seller subsidy. More importantly, both the six month and twelve month median values are at zero. This means in both time frames that more than half of Braemar townhouse sellers gave no closing cost help at all. Buyers in this competitive marketplace are having to cover as much of their closing costs as they can to have a chance to win in a multiple offer situation.

Days on market actually increased in the six month average compared to the twelve month average, but only by two days. Looking at the most recent solds there were a couple of oddballs, one that took longer than two weeks and one that took a month and a half to get under contract. That’s not typical for a seller’s market. Thankfully, the six month median and twelve month median show us that in both time frames, more than half of Braemar sellers were under contract in four days or less.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in less than one week. You could also expect that while you may see offers with requests for seller subsidy, the market may continue to be so competitive you have to give none.

The next Braemar Townhouse Report will be out in March. Until then, if you would like to sell your Braemar townhouse while values are peaking this year, let’s talk about how to get the absolute maximum for your home. Even in a seller’s market, the listing agent you hire matters to your bottom line in how they advise you, market your home and negotiate 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 Townhouse Report: September-October 2020

Braemar Townhouse Report: September-October 2020

Bringing up the rear of November’s Braemar markert reports is this edition of the Braemar Townhouse Report. In this report the focus is on the sale of traditional three level townhouses in Braemar with a back yard, and attached side to side only.

In the months of September and October (2020) there were eight Braemar townhoues that sold. Final sold prices ranged from $315,000 to $395,000. The details of those eight sales are listed below:

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

Starting with the sold price column, we find that both the six month average and six month median sold prices are higher than their respective twelve month values. This means that Braemar townhouses are still gaining value. No surprise in the current market where inventory is scare and buyer demand is intense.

In the seller subsidy column we get to learn the amount of closing cost help that sellers gave to their buyers. The six month average seller subsidy is less than the twelve month average seller subsidy. This is good. What is better is that the six month median and twelve month median seller subsidy values are in agreement at zero. This means that more than half the sellers in these time period gave absolutely no closing cost help. And if you look at the sales from September and October above, more than half of those sellers gave nothing.

The days on market columns shows the six month average and twelve month average marketing times aligned at seven days. Meanwhile the six month median marketing time was one day longer the twelve month median marketing time. It is not taking long for Braemar townhouses to get under contract.

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 less. You could also expect that you would not have to give any seller subsidy.

The next Braemar Townhouse Report will be out in January. Until then, I wish you all the best this holiday season. And if the need arises for you to sell your townhouse between now and then, don’t hesitate to get in touch. Our year end Braemar real estate market is a powerful one…one without a lot of competition and with the most serious buyers. I would be happy to show you 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 Townhouse Report: July-August 2020

Braemar Townhouse Report: July-August 2020

It it time for another Braemar Townhouse Report, featuring sales of traditional three level townhouses with back yards in our neighborhood.  This particular report looks back to the months of July & August.  During that time, there were nine Braemar townhouses that sold.  Their final sold prices ranged from $330,000 to $385,000.  Details of each sale are listed below:

Taking these nine sales and combining them with the past entire twelve months of Braemar townhouse sales, the updated six and twelve month value points are updated as pictured below:

Starting with the sold price column, both the six month average and six month median sold prices are above their respective twelve month values.  This means Braemar townhouse values are continuing to rise.  No surprise in this intense seller’s market.

The seller subsidy column is where we find out how much closing cost help Braemar townhouse sellers are giving in their transactions.  For starters, it is great to see that the six month average seller subsidy is less than the twelve month average seller subsidy.  Sellers have been giving less closing cost help on average in the most recent sales.  Even better, the six month median seller is at zero, compared to the $2,500 value found in the twelve month median.  In the most recent sales, more than than half of Braemar sellers have given no closing cost help.

Finally we get to the days on market column.  Here we see slightly faster marketing times in the six month values compared to the already fast twelve month values.  Again, no surprise when you see the intense demand and lack of inventory in our 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.  If you had to give closing cost help, you could reasonably expect it would be a modest amount.  Better yet, you may have to give none.

The next Bramear Townhouse Report will be out in November.  Until then, if you find yourself needing to move up into a larger home, or relocate, know that our year end market is going to be extremely busy this year.  Better yet, we will have very little competition.  Give me a call to investigate what a year end sale would 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

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