Braemar Property Value Report: January-February 2019 (Carriage Series)
As the thaw out from winter is underway in Bristow, it is time for another Braemar Property Value Report, detailing sales of homes in the Carriage Series. This edition focuses on the activity in January and February. Braemar Carriage homes are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home. The floor plans, from smallest to largest, are: Maplewood, Norwood, Oakdale and Parkdale.
During the first two months of the year, there were two Carriage homes that sold. Both were three bedroom Norwood models. Their sold prices were $402,000 and $425,000.
Taking these sales and combining them with the last twelve months of Braemar Carriage home sales, we get updated six and twelve month data points.
When it comes to sold prices, the six month average sold price is slightly below the twelve month average sold price. Meanwhile the six month median sold price $1,000 above the twelve month median. Neither change is notable, so we can determine that Braemar Carriage home values are stable.
Seller subsidy also shows some mixed information. The six month average seller subsidy is less than the twelve month average. At the same time, the six month median is exactly the same as the twelve month median. Relative stability in what sellers are giving their buyers in closing cost help is what we can infer here.
Finally we look at marketing time, or days on market. The six month average and median marketing times are both above the twelve month values. Because we switched to a new MLS that calculates these values differently in the fall, it’s going to be until next fall that we have an apple to apples comparison.
If you placed your Carriage home 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 and a half. You could also expect to give $5,000 to $6,000 in closing cost assistance to your buyer.
The next Braemar Property Value Report will be out in late May. Until then, if you want to know what your Braemar Carriage home is worth, get in touch with me for a free market analysis. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate