Braemar Condo Quarterly: January-March 2017 (1st Quarter)

Braemar Condo Quarterly:  January-March 2017 (1st Quarter)

If April showers bring May flowers, May is going to be very colorful in Braemar.  It’s been a pretty dreary stretch, but I’ll take this rainy Monday to catch you up on Braemar condo values for the first quarter.  This report, however, we’re going to do things a little bit differently to give you a more accurate view of what direction values are going by incorporating rolling six month and twelve month figures.

There was only one sale of a Braemar condo in the first quarter.  It happened on March 24th.  It was an end unit townhouse with no garage, located at 10056 Moxleys Ford Lane,  that listed for $264,900 and sold for $260,000.  It was under contract in only 3 days and gave $5,000 in seller subsidy (a.k.a. closing cost help.)  So how does that compare to the rolling six month and twelve month figures?

The sales price is higher than the average and median sales in both time frames.  So it is safe to say this sale is the start of seeing prices lift.  This first quarter sale is included in the six month and twelve month figures.  You can see it is already lifting values.  The median sales price in both instances in still $250,000.  However, the average sales price is over $3,000 higher in the six month value vs. the twelve month value.

If you placed your Braemar condo on the market, priced to current conditions, you could expect it to be under contract in 6 to 21 days, based on the marketing time frames we are seeing in those six month values.  You could also expect to pay around $5,000 in closing cost help.  You would be very fortunate to pay less than that.

The next Braemar Condo Quarterly will be out in July.  Until then, when you are ready to sell your Braemar townhouse condo, give me a call and let’s take a look at current market indicators.  Since 2005, No One Knows Braemar Bettter!

Chris Ann Cleland

 Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com 

Advertisements

Braemar Condo Quarterly: October-December 2016

Braemar Condo Quarterly: October-December 2016

Braemar CondoHappy New Year!  As we begin 2017, naturally this Braemar Real Estate Agent is taking the time to look back at the end of 2016 and see how Braemar property values fared.  Right now, I will take you through the fourth quarter sales of Braemar condos.

Unlike the third quarter of 2016, which saw only one Braemar condo sell, the fourth quarter had five sales!  That’s pretty incredible.  Even the fourth quarter of 2015 only had two sales.   The low sales price of $237,500 was lower than we saw a year ago, but the high sales price was higher than what we saw last year.  When it comes to the averages, the average sales price for the fourth quarter of 2016 was down a little over $4,000 since last year.  All in all, Braemar condo sales prices have remained fairly stable for the last couple years.

Braemar Condo Quarterly, 4th Quarter 2016

If you placed your Braemar condo on the market, priced to current conditions, you could expect it to be under contract in an average of 25 days.  That’s a longer than we have been seeing, but it is still not a long time to be on the market.  You could also expect Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037to pay an average of over 1.5% of the sales price in closing cost help for the buyer.  That’s unchanged since last year.

The next Braemar Condo Quarterly, will be out in April and focus on the first quarter of 2017.  Until then, when it is time for you to sell your Braemar condo, give me a call for a free market analysis  Since 2005…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 using MRIS (Metropolitan Regional Information Services)