Braemar Piggyback Quarterly: April-June 2019 (2nd Quarter)

Braemar Piggyback Quarterly: April-June 2019 (2nd Quarter)

This is the first Saturday I’ve had free since May.  The Birstow real estate market has been insanely busy.  Not just weekends either.  Every single day has been dominated by buyer tours, listing appointments, staging, inpsections, and settlements.  It’s nice to have a day to relax….which of course to me means putting out another Braemar Piggyback Quarterly.  As a Top Braemar Listing Agent, putting together market reports for our neighborhood is actually enjoyable for me.

This particular report does focus on sales of Braemar Piggyback townhouses during the second quarter of 2019.  Piggyback townhouses, in case you aren’t familiar, are the tgarage townhouses in Braemar that are attached at the back.  That means they have no back yard like traditional townhouses.  Of course, what they lack in back yard, they make up with generous bedroom sizes and the two car garages.

There were two Braemar Piggyback townhouses that sold between April and June.  The details of those sales are listed below.

Taking these two sales and combining them with the entirety of the previous twelve months of Piggyback townhouse sales, the six and twelve month data points change.  Here’s what they look like at this point in time:

Looking at the sold prices, we see the six month average is about 1% higher than the twelve month average.  Meanwhile, the six month median sold price is exactly the same as the twelve month median.  While Braemar Piggyback townhouses may have increased a tad in average sold price, the median sold price shows very stable values.

Seller subsidy (closing cost assistance to buyers) is super stable as well.  There is very little change between the six month average compared to the twelve month average.  The six month median and twelve month median are both zero.  In this low inventory/high demand market, many buyers are having to forego asking for closing cost help to be competitive.

Days on market is a tricky category to analyze since our new MLS calculates this value differently.  Since we changed to a new MLS in November, we are still comparing apples and oranges.  It won’t be until the first report in 2020 that we have a real comparison in marketing time from the short term to the long term.  This report indicates that the average marketing time has decreased slightly in the six month average compared to the twelve month average, but the median marketing time remains exactly the same.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement in a little over forty days.  You could also expect that if you had a closing cost request from your buyer, it may be as little as 1% of the sales price.

The next Braemar Piggyback Quarterly will be out in October.  Until then, when the time comes to sell your Piggyback townhouse, give me a call. 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 Piggyback & Patio Quarterly: January-March 2016

Braemar Piggyback & Patio Quarterly:  January-March 2016

It is time for another Braemar Piggyback and Patio Quarterly, giving an overview of home sales for the first quarter.  For clarification, Braemar Piggyback Townhouses are attached side-to-side and back-to-back.  While they do not offer back yards, they offer large bedrooms and a two car garage.  Braemar Patio Homes are also known as quads.  Each is attached at the side, back and corner to another Patio Home.  They have two levels, also offering large bedrooms and a modest side yard.

PIGGYBACK

Braemar Piggyback TownhouseThere were two Piggyback townhouses that sold between January and March.  The high sales price was $288,000, while the low was $282,900.  That means a decrease in average market value of not even 1/2 of 1% since last report.  The difference compared to last year is an increase of 23% in average market value.  That’s not to say your Piggyback townhouse in Braemar went up 23% in value since last year.  Last year’s one sale was what I would call an outlier.  It was such a low value that it does not compare to other sales.   The comparison to last report is more an indicator of the stability of Piggyback townhouse values.

Piggyback Townhouse Values, January-March 2016

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, this report does indicate that your home would be under contract in an average of just over two months.  You could also expect to pay an average of 3% of the sales price in closing cost help to the buyer.

PATIO

Braemar Patio HomeWith three sales of Patio homes in the first quarter, we had what I would call a decent amount of activity.  That’s unlike the fourth quarter last year where we had one sale, or the first quarter of 2015 where we had no sales.  High sales price was $300,000 and the low sales price was $295,000.    The average sales price of $298,167 is a decrease in value of 2% since last report.  Again, there is no comparison to last year, as there were no sales in the first quarter of 2015.

Patio Home Values, January-March 2016

If you placed your Braemar Patio home on the market, priced to current conditions, you could expect it to be under contract in an average of just over two months.  You could also expect to pay an average of 1/10th of 1% of the sales price in closing cost help to the buyer.  That’s hardly anything.  Buyers for Braemar Patio homes are being very competitive right now and not asking for much in closing cost help.

Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037The next Braemar Piggyback & Patio Quarterly will cover the second quarter of 2016 and will be out in July.  Until then, when you are ready to sell your Braemar home, call me for a free market analysis.  No One Knows Braemar Better!

Chris Ann Cleland, Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.comwww.UncompromisingValues.com

 

Statistics compiled by Chris Ann Cleland, using the MRIS (Metropolitan Regional Information System.)