Braemar Townhouse Report: July-August 2019

Braemar Townhouse Report: July-August 2019

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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

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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: March-April 2019

Braemar Townhouse Report: March-April 2019

It is hard to believe that May is nearly over, school is almost out and summer is upon us.  While we enjoy our sunny summer days, it is time for the latest edition of the Braemar Townhouse Report.  This one features traditional townhouse sales in Braemar during the spring months of March and April.

There were nine Braemar townhouses that sold during our current reporting period.  Oddly enough, there were all one car garage townhouses.  That hasn’t happened that I can recall in the time I’ve been putting these reports since 2005.  The details of those sales are listed below:

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

Let’s start by taking a look at the category that interests all Braemar townhouse owners the most:  sold price.   Even though all but one or two of the nine current sales are above the six month average and median values, the six month value markers have both fallen below their respective twelve month value markers.  Given the aforementioned sold prices from March and April, this is likely a hiccup and nothing to indicate falling values. Time will tell when the next Braemar Townhouse Report is published in July.

Seller subsidy, also known as closing cost assistance to buyers, is largely unchanged when looking at the six month values compared to their twelve month counterparts.  Clearly, the majority of Braemar townhouse buyers are expecting some amount of closing cost help.

Finally we come to days on market, or marketing time as I like to call it.  Here we see a definite increase when comparing the six month average to the twelve month average, and also when we compare the six month median with the twelve month median.  If we hadn’t changed MLS systems in November, which calculates days on market differently, this would concern me.  It doesn’t right now.  And when we sit down to look at the Braemar market when you are ready to sell your townhouse, one thing I do is manually calculate how long it takes homes to go under contract.  Until the MLS days on market is a reliable value, that’s what any Top Braemar Listing Agent should be doing.

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 one month.  You could also expect to give about 1.5% of the sales price in seller subsidy.

As noted above, the next Braemar Townhouse Report will be out in July.  Until then, if the need or want arises for your to sell your townhouse, give me a call for the most accurate market analysis of your home’s value in the current Braemar marketplace.  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

 

 

Braemar Townhouse Report: March-April 2018

Braemar Townhouse Report: March-April 2018

Before embarking on any Saturday fun, which this Top Braemar Real Estate Agent intends to have today, I’m putting out this last Braemar real estate market report.  The Braemar Townhouse Report is always the last in the series of bi-monthly reports that I compile.

There were seven Braemar townhouses that sold during the months of March and April.  The details of those sales are below:

When take these seven sales and place them in the rolling pool of Braemar townhouse sales for the past year, we get updated six and twelve month data points that look like this:

Seeing that the six month average and median sold prices are both higher than the twelve month average and median sold prices means that Braemar townhouse values are still pushing up.  Meanwhile, seeing that the seller subsidy (closing cost assistance to buyers) in the six month values is lower than the seller subsidy in the twelve month values, shows that sellers, in this seller’s market, are able to negotiate deals with lower closing costs recently.  That means Braemar townhouse sellers are netting more money from their sales.  The marketing time, however, is the same in the median values in the short and long term, but the average marketing time in the last six months increased compared to that in the last twelve months.  Three days is not an increase to even concern yourself about.

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

The next Braemar Townhouse Report will be out in July.  Until then, when you want to know what our current market conditions mean to your specific townhouse value, 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