Braemar Condo Quarterly: April-June 2021 (Second Quarter)

Braemar Condo Quarterly: April-June 2021 (Second Quarter)

The second quarter of the Braemar real estate market is behind us, but it feels like it just started. Time is flying past in this insane seller’s market. In this edition of the Braemar Condo Quarterly I will go over the sales from the second quarter and give you six and twelve month break outs of average and median values to see how our Braemar Condo market is faring. Let’s get right to it.

There were four Braemar Condos that sold in the second quarter. The details of those sales are listed below:

In the second quarter sales, we have a nice collection of varioius Braemar condos. Those with and without garages, two and three bedroom models, and interior and exterior models. Sold prices ranged from $340,000 to $380,000. What does that mean in the grand scheme of things? Let’s take a look at our six and twelve month data points.

The six month average sold price and six month median sold price are both MUCH higher than their respective twelve month values. This means that Braemar Condos have been gaining values in the last six months. And will likely continue to increase if the buyer demand holds up.

It is no surprise to see seller subsidy (closing cost assistance from seller to buyer) at zero in both six month values. The only value that has a bit of seller subsidy is the twelve month average. Even at a little over $1,800, it is isn’t much. Buyers are having to forego many requests, including cost cost assistance, to win in multiple offer situations.

Days on market shows stability, with only the twelve month average of seven days falling to five days in the six month average. It is continuing to take about a week or less to sell a Braemar Condo.

If you placed your Braemar Condo on the market, priced to current conditions, you could expect it to be under contract in less than a week. You could also expect to land a buyer with no need of seller subsidy.

The next Braemar Condo Quarterly will be out in October. Until then, if you have been considering the sale of your Braemar Condo, get in touch with me. Having your property well prepared and professionally marketed is what creates the buyer enthusiasm that drives up demand and prices…even in a seller’s market. It is what I have been doing for Braemar sellers for many 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