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

 

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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

 

Braemar Townhouse Report: January-February 2018

Braemar Townhouse Report: January-February 2018

Nothing like cutting it down to the wire.  Being a Top Bristow Real Estate Agent, the best laid plans can go awry when you are dealing with multiple offers on listings during the week of Spring Break.  Normally, I try to get all of my Braemar market reports out by the end of the odd months.  Before I roll out for a family function, I am determined to keep my Braemar readers up to date with this Braemar Townhouse Report.  Let’s get to it.

There were four Braemar townhouses that sold during the first two months of the year.  Their sold prices ranged from $289,900 to $360,000.  Details of these sales are below:

When we take these sales for the first two months of the year and add them into our bank of sales from the last twelve months, here’s what we find:

The six month average sold price is a little higher than the twelve month average sold price.  This would indicate values are still pushing up.  However, the six month median value is below the twelve month median.  That would indicate values may be leveling out.  Only time is going to tell what is happening with values.  Meanwhile, the six month values in seller subsidy, compared to the twelve month values, shows buyers are getting more in closing cost help from sellers.  And while this does show that marketing time is taking longer in the short-term, I’m here to tell you that we have very little inventory when it comes to Braemar townhouses and strong buyer demand.  NOW, is the time to put your Braemar townhouse on the market.  Waiting until school is out is essentially waiting for buyers to be on vacation.

The next Braemar Townhouse Report will be out in May.  Until then, give me a call when you are ready to sell your townhouse.  I’m seeing more and more out of the area agents under pricing homes because they don’t know the selling features, or demand, in our neighborhood. I promise not to under price your Braemar home. 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: November-December 2017

Braemar Townhouse Report: November-December 2017

Probably the most concerning thing to a Braemar townhouse owner is trying to figure out who is the top Braemar real estate agent when it is time to sell.  A great place to start is finding one that knows the market, beyond cutting and pasting a market report that is so generic it applies as much to Sheffield Manor or Victory Lakes as much as it does to Braemar.  That’s certainly not my style.  Every two months, I’m here compiling the data for my Braemar Townhouse Report myself.  This particular report looks back to the sales activity to November and December.

For the purposes of this report, Braemar townhouses are not condos, patio homes or piggyback townhouses.  That means they are fee simple ownership, three level attached homes with back yards.  In other words, a traditional townhouse.

There were seven Braemar townhouses that sold in the last two months of 2017.  Their sold prices ranged from $277,128 to $354,900.  The details of each sale are listed below:

When we take these most recent Braemar townhouse sales and place them with our rolling six and twelve months values, what we find is the average sold price in the last six months is a little higher than that in the last twelve months.  However, the median sold price in the last six months is a little lower than that in the last twelve months.  A little high in one and a little low in the other is good indicator of stability in value.

Seller subsidy (closing cost assistance) is up in both the six month values compared to the twelve month values.  And marketing time (DOM) is up a bit in both the shorter term values compared to the longer term values.

If you were to place your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in a little over a week or two.  You could also expect to pay about 1.5% of the sales price in closing cost help to the buyer.

The next Braemar Townhouse Report will be out in March.  Until, feel free to call this top Braemar Real Estate Agent when you are ready to sell. 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