Braemar Property Value Report: March-April 2022 (Carriage Series)

Braemar Property Value Report: March-April 2022 (Carriage Series)

Graduations and proms are the talk of social media. Spring has most definitely sprung. In this edition of the Braemar Property Value Report, we will look at how the Carriage home market is our neighborhood is doing against the back drop of sharp mortgage interest rate increases. If you are not familiar with what makes up a Carriage home in Braemar, they 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, accessed by a private driveway off of the street, or off of a shared alley in the back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

There was only one Braemar Carriage home that sold during the current reporting period of March and April. Details are listed below.

Should you be concerned that there was only one Carriage home sale in the months of March and April? No. During that time period, I was pleased to list 9477 Cromarty Court. That gave me a first hand look at the activity for homes like these. The demand is out of control for affordable homes in our neighborhood. (Yes, affordable single family homes in 2022 are in the low to mid six hundred thousands.) If more Carriage homes had hit the market in the early part of the year, there would be more sales to report.

Taking a freshened up twelve months of Braemar Carriage home sales from May 2021 to April 2022, our six and twelve month data points are updated as follows:

The sold price column is looking very healthy and reflective of continued seller market conditions, despite rising mortgage interest rates. Both the six month average and six month median sold prices are substantially higher than their respective twelve month values. Braemar Carriage homes are definitely continuing to gain value in this market.

Seller subsidy is where we learn how much closing cost help buyers were able to negotiate from their Braemar sellers. The only number not at zero is the twelve month average seller subsidy. Two sales out of a total of sixteen in the past year’s worth of Braemar Carriage home sales gave closing cost help. One gave $12,500. The other gave $2,000. How do you avoid giving closing cost help as a seller? Make sure your home creates buyer enthusiasm so buyers must put their best foot forward to win amongst their competitors.

Days on market shows single digits down the line. Braemar Carriage homes are selling very quicky as buyer demand continues to outpace homes coming on the market.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in a week or less. You could also expect to give nothing in closing cost help if your home was properly prepared for the market and professionally marketed.

The next Braemar Property Value Report will be out in July. Until then, if you would like to take advantage of a home sale while the buyers are still outnumbering available inventory, get in touch with me for a no obligation consultation. No matter the market, my listing services start with preparation advice as far out as you want to discuss readying your home. Details matter. I also invest my sellers’ success with professional marketing. My Braemar sellers also get my unparalleled neighborhood knowledge, having called this neighborhood home and served the HOA for over seventeen years. 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 Carriage Home Spotlight: The Parkdale Model

Braemar Carriage Home Spotlight:  The Parkdale Model

One of the most popular style of homes in Bristow’s community of Braemar are Carriage homes.   These smaller, single family homes with detached garages are a great alternative for many buyers who may also be looking at average to larger sized townhouses.  Not all Braemar Carriage homes were built with detached garages.  Some original owners opted to not have the garage and instead have an asphalt parking area.  No matter whether it’s a detached garage, or parking area, it is in the rear of the Carriage.

The Parkdale is the largest of the Carriage homes in Braemar.  It is one of two styles of Carriage homes that boasts four bedrooms on the upper level.  The other is the Oakdale.  The remaining, smaller Carriage homes (from largest to smallest) are the Norwood and Maplewood and have only three bedrooms on the upper level.

The main level of the Parkdale boasts a spacious kitchen with island and morning room that is open to the large family room.  A nice extra only found in the Parkdale is the butler’s pantry that transitions you from the kitchen to the formal dining room. You will also find the laundry room opposite the butler’s pantry. And in true colonial fashion, the formal living room is opposite the formal dining room. 

The bedroom level gives another special extra only found in the Parkdale:  a sitting room in the master suite.  Some owners may not have chosen to frame the sitting area with the formal pillars, so the master bedroom may simply appear much larger.

The basement, as with all the Carriage homes, may be finished to include an additional third bathroom, den and a recreation space.

The floor plan for each level of the Parkdale is at the end of this post.

If you are thinking of buying or selling a Carriage home in Braemar, I’d be happy to meet with you.  For sellers, I offer a free customized market analysis of your specific home’s worth.  I’ve lived in Braemar and been a full-time Bristow real estate agent 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.SpeakingOfHomes.net, www.NVARealEstate.net, www.SellingBraemar.com

Other Braemar Carriage homes includes the Maplewood, the Norwood and the Oakdale .