Braemar Condo Quarterly: July-September 2017 (3rd Quarter)

Braemar Condo Quarterly: July-September 2017 (3rd Quarter)

While our minds are well into the end of the year, and the holidays that accompany this time of year, it is time for another Braemar Condo Quarterly report for the third quarter of 2017.  Let’s step back to the months of July, August and September and see what happened with Braemar condo sales.

There were three Braemar condos that sold in the third quarter.  The sales are detailed below:

Sold prices ranged from $238,000 to $264,900.  When we take these sales and update our rolling six month and twelve month data for Braemar condos, here is what we find:

Over the last year, we have had twelve Braemar condo sales.  And oddly enough, six of those sales make up our six month rolling data pool.  So on average, we are selling one Braemar condo a month.  And as you can see from the numbers above, Braemar condo values are remaining stable at about $250,000.  Unfortunately, as of today there is a Braemar condo for sale at $229,000.  That, coupled with the most recent sold price of $238,000, may mean that Braemar condos are starting to slip in value.

If you placed your Braemar condo on the market, you could expect it to be under contract in a little more than a week to nearly three weeks time.  You could also expect to pay around $3,500 to $4,000 in closing cost assistance to the buyer.

The next Braemar Condo Quarterly will be out in the new year.  Until then, if you need to sell your Braemar condo, give me a call.  I’ll share with you the pros and cons of listing now or waiting for spring.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 

Associate Broker-Licensed in VA

Long & Foster REALTORS®