Braemar Property Value Report: May-June 2021 (Courtyard Series)

Braemar Property Value Report: May-June 2021 (Courtyard Series)

Time for another Braemar Property Value Report. Today’s edition focuses on the latest happenings in the Courtyard homes in our neighborhood. Braemar Courtyard homes are the single family homes located on Orland Stone, Pentland Hills and Playfair.  Five homes share a courtyard driveway and have a strip of yard separating them from each other.  I often refer to them as city homes or executive style homes, as they require the most minimal lawn maintenance and have very contemporary floor plans named the Arlington, Ballston and Clarendon.  What they lack in lawn, they more than make up for in generous bedrooms sizes.

During the current reporting period of May and June 2021, there were five Courtyard homes that sold. The details of those five sales are listed below:

With sold prices ranging from $521,900 to $560,000, I would say that Braemar Courtyard homes are doing quite well. However, to get the best look at what’s been happening, these figures combined with the entire previous twelve months of Braeamr Courtyard home sales allow me to update the six and twelve month data points. They definitely show the effects of the strong seller’s market we have been experiencing.

Looking at the sold price column, we see the six month average sold price has seen a healthy increase over the twelve month average sold price. More impressive is the substantial increase in value in the six month median sold price over the twelve month median sold price. Braemar Courtyard homes have been gaining value quickly with the frenzied buyer demand and lack of inventory.

Seller subsidy is where we learn how much closing cost help Braemar Courtyard home buyers were able to negotiate from their sellers. All the values, except for the twelve month average are at zero. In fact, the twelve month average only has a value in it because, of the twelve Braemar Courtyard homes that have sold in the past twelve months, one in August 2020 gave about two percent of the sales price in closing cost help. The overwhelming majority of Braemar Courtyard home sellers had to give nothing in seller subsidy to strike a deal with their buyers.

inge days on market shows an interested trend updward in the six month average compared to the twelve month average. That can be explained by two Braemar Courtyard home sales that took double digits to get under contract in the past twelve months, one pictured above in fact. The six and twelve month median days on market are the same at four days. That means that half of all Braemar Courtyard home sales in both time frames happened in four days or less.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect to be under contract in less than one week. You could also expect to give nothing in closing cost help.

The next Braemar Property Value Report will be out in September. Until then, when it is time to sell your Courtyard home, remember that no matter the market conditions, the only way you make the absolute most the market will bear for a home of your size and style is by creating buyer enthusiasm. That happens when a home is properly prepared and professionally marketed. Get in touch with me and ensure you get both of those working for you. 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 Property Value Report: November-December 2020 (Courtyard Series)

Braemar Property Value Report: November-December 2020 (Courtyard Series)

Before leisure time begins for this Braemar Real Estate Agent today, I thought I would bring you another Braemar Property Value Report. This particular report focuses on the last two months sales of Braemar Courtyard homes. Braemar Courtyard homes are the single family homes located on Orland Stone, Pentland Hills and Playfair.  Five homes share a courtyard driveway and have a strip of yard separating them from each other.  I often refer to them as city homes or executive style homes, as they require the most minimal lawn maintenance and have very contemporary floor plans named the Arlington, Ballston and Clarendon.  What they lack in lawn, they more than make up for in generous bedrooms sizes.

During the months of November and December, there was only one Braemar Courtyard home that sold. Details of that sale are listed below:

It is often the case that there is only one sale, or no Braemar Courtyard home sale at all when this report is compiled every two months. That is why the current reporting period sale(s) are combined with the entire last twelve months of Courtyard home sales and six and twelve month data points extracted. Gives us a steadier look at trends. Doing that this report, here’s what we have:

The six month average sold price dropped slightly compared to its respective twelve month sold price. However, both the six month median and twelve month median remain the same at $495,000. Seems Braemar Courtyard homes are holding steady in value. Then again, a glance at the most recent sale indicates the values are likely going to be seen to be lifting in future reports.

When it comes to seller subsidy, we get to see how much closing cost help buyers negotiated with their Braemar Courtyard home sellers. The six month average is less than the twelve month average, meaning buyers were able to negotiate less in the more recent sales. What the six and twelve month median values tell us, both being at zero, is that more than half of Braemar Courtyard home sellers gave no closing cost help at all. That is something we are seeing a lot as buyers are having to forego closing cost help requests in multiple offer situations just to be competitive.

Days on market, down the entire column, shows single digit days. The six month average was two days faster than the twelve month average. The six month median was one day faster than the twelve month median. Braemar Courtyard homes are getting immediate attention from buyers struggling in this market with so little inventory to choose from.

If you placed your Braemar Courtyard home 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 give absolutely no seller subsidy.

The next Braemar Property Value Report will be out in March and show what the first two months of 2021 have meant to our Braemar home values. Until then, when the time comes for you to sell, I would love the opportunity to show you how my neighborhood expertise and professional marketing can put even more money in your pocket. You only get one shot at netting the most money. Who you hire matters. 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 Property Value Report: May-June (Courtyard Series)

Braemar Property Value Report: May-June (Courtyard Series)

Seems the only respite we get from the hot and humid weather  lately are thunderstorms.  Yesterday afternoon’s storm was certainly intense.  Seemed it was instant nighttime as I drove to Gainesville to show property.  The wind was so strong it was pushing my car into another lane of traffic.  Trees were flailing about and buckets of rain were falling out of the sky.  Did that stop us from house hunting?  No.  Inventory all over our area is scarce and buyer demand is high.  We hoped that the storm meant other buyers would sit the day out.  No such luck.  It’s a brutal market for buyers.

What’s happening in the world of Braemar Courtyard homes?  Today’s Braemar Property Value Report, focusing on Braemar Courtyard homes, will seek to answer that question.  If you aren’t sure what a Braemar Courtyard home is, they are the single family homes located on Orland Stone, Pentland Hills and Playfair.  Five homes share a courtyard driveway and have a strip of yard separating them from each other.  I often refer to them as city homes or executive style homes, as they require the most minimal lawn maintenance and have very contemporary floor plans named the Arlington, Ballston and Clarendon.  What they lack in lawn, they more than make up for in generous bedrooms sizes.

While there were no new sales of Braemar Courtyard homes in the months of May and June, we do have a change to drop the sales from last May and June and freshen up our six and twelve month data points.  Updated values can be found below.

As you may recall, the last sale we had in our Courtyard Series Braemar Property Value Report was a Courtyard home on a more traditional lot.  That is the only sale represented in the six month data points.  Therefore, I’m hesitant to use its value as an absolute for current Courtyard home trends.

What I can tell you across most recent Braemar real estate sales is this:

  • Homes are increasing in value
  • Seller subsidy (closing cost credit to buyers) is shrinking
  • Marketing time is faster

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in two to three weeks.  You could also expect to give about 1.5% of the sales price in closing cost help, if you have to give any at all.

The next Braemar Property Value Report will be out in September.  Until then, if the time has come to sell your Braemar Courtyard home, give me a call for the most accurate market analysis of your home’s value in today’s strong seller’s market.  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

 

 

 

 

Braemar Property Value Report: March-April 2020 (Courtyard Series)

Braemar Property Value Report: March-April 2020 (Courtyard Series)

Can you believe that Memorial Day Weekend is THIS weekend?  This shelter-in-place order for the pandemic has made it feel like time was standing still.  Obviously, nothing stops time.  And as it turns out, it takes more than a pandemic to stop our Braemar real estate market.

In today’s edition of the Braemar Property Value Report, the focus is on the recent activity in the Courtyard Series homes in Braemar.  If you aren’t sure what a Braemar Courtyard home is, they are the single family homes located on Orland Stone, Pentland Hills and Playfair.  Five homes share a courtyard driveway and have a strip of yard separating them from each other.  I often refer to them as city homes or executive style homes, as they require the most minimal lawn maintenance and have very contemporary floor plans named the Arlington, Ballston and Clarendon.  What they lack in lawn, they more than make up for in generous bedrooms sizes.

As is typical for our two month sales reporting periods, there was only one Braemar Courtyard home that sold during the months of March and April 2020.  Courtyard homes make up such a small portion of homes in Braemar, it is unusual to see many of them selling in any one reporting period.  The one Courtyard home that sold, is detailed below:

To be honest, I struggled with putting this Courtyard model home sale in this report.  It is an Arlington model, but unlike the Courtyard homes set up around one courtyard, this home was a builder model and located on a much larger lot and set up like a typical Braemar single family home.  It has a private driveway and doesn’t share a courtyard entrance like every other Courtyard home.  However, because the floor plan is the same as the Courtyards, I came to the conclusion it belonged here.  Of course, the higher than typical sold price reflects the difference in lot set up.

Taking this sale and combining it with all of the previous Courtyard home sales in the last twelve months, we see the six month average and median sold prices are higher than their twelve month counterparts.  That’s great news and is what I’m seeing across the Braemar real estate market.  Property values are still rising.

Seller subsidy (closing cost assistance from seller to buyer) is lower in both six month values compared to their twelve month counterparts.  This means that in the more recent sales, Braemar Courtyard home sellers, on average, have been giving less in closing cost help.

Finally, when it comes to marketing time, we see mixed information.  The six month average marketing time has shortened by more than half of the twelve month average.  Meanwhile the six month median marketing time has increased a bit compared to the twelve month marketing time.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in less than two weeks.  You would also expect to give 1% to 1.5% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in July.  Until then, the big question on most home owner’s minds is whether or not the pandemic is affecting our real estate market.  So far, it is not having a negative impact.  We are still experiencing a seller’s market thanks to very low mortgage interest rates, the expansion of Micron creating thousands of jobs in our back yard, and of course, our proximity to the Federal government that is always thriving.

If you find yourself wanting to sell your Braemar home, give me a call and we’ll discuss how to safely sell your home while still maximizing your sales price.  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

 

 

Braemar Property Value Report: November-December 2019 (Courtyard Series)

Braemar Property Value Report: November-December 2019 (Courtyard Series)

As we get further into January 2020, I am still putting together Braemar Property Value Reports for my fellow home owners in Braemar. Today’s report is the Courtyard Series and focuses on sales of Courtyard homes in November and December 2019.  If you aren’t sure what a Braemar Courtyard home is, they are the single family homes located on Orland Stone, Pentland Hills and Playfair.  Five homes share a courtyard driveway and have a strip of yard separating them from each other.  I often refer to them as city homes or executive style homes, as they require the most minimal lawn maintenance and have very contemporary floor plans named the Arlington, Ballston and Clarendon.  What they lack in lawn, they more than make up for in generous bedrooms sizes.

There were two Braemar Courtyard homes that sold in the last two months of 2019.  Their final sold prices were $395,000 and $439,000 respectively.  The details of those sales are listed below:

Combining those two sales with the entire twelve month of sales from 2019, our six and twelve month data points are updated as seen below:

Starting with the sold column, we see that both the six month average and six month median values are below their respective twelve month values, but not by much.  And being that one of the sales from the year end had a value above all of these average and median values, and the other fell below them all, I would consider the values of Braemar Courtyard homes stable right now.  Time will tell if we continue to climb up in value.

Seller subsidy (closing cost assistance to buyers) does not bear out a favorable trend when comparing the six month average and median values to their twelve month counterparts.  The six month values are both above the twelve month values.  This means that buyers in the last six month have been asking for, and receiving, more closing cost help.  However, it is important to note that the last two sales of 2019 show seller subsidy figures below what is noted in the six month average and median.  If future sales follow the trend set by these two sales, the seller subsidy figures will be soon be falling.

Finally we come to days on market, or what I call marketing time.  The six month average and median values, in comparison to their respective twelve month values, shows that in the last six months, average marketing time has increased a bit.  Again, the last two sales of 2019 show marketing times below the six month average and median marketing times.  If future sales follow suit, this will be another value ripe for favorable change.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in a little over a week to a little over three weeks.  You could also expect to pay an average of about 1.5% of the sales price in closing cost help to your buyer.

The next Braemar Property Value Report will be out in March.  Until then, if you have been thinking of selling your Braemar home in the 2020 spring market, please realize that real estate spring comes a lot quicker than Mother Nature’s spring.  The time to get started is now.  Give me a call and let’s go over how you can maximize your profit in this market.  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

Braemar Property Value Report: July-August 2019 (Courtyard Series)

Braemar Property Value Report: July-August 2019 (Courtyard Series)

Summer is behind us, which means we can take a look back at the Braemar Courtyard home sales for the months of July and August in this edition of the Braemar Property Value Report.  Before we get to it, if you don’t know what defines a Braemar Courtyard home, they are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Ballston and Clarendon.

There were five Braemar Courtyard home sales in the last two months, ranging from $427,000 to $440,000 in final sold price.  The details of those sales are as follows:

Taking these most recent sales and combining them with the entire last twelve months worth of Braemar Courtyard home sales, we get updated six and twelve month data points, which are the indicators that tell us what is happening in the marketplace.  Here are the updated values:

Looking first at the sold price column, it is good to see the six month average sold price is higher than the twelve month average.  The six month median sold price is nearly the same as the twelve month median sold price, but still a tad higher.  Braemar Courtyard home prices are continuing to push up in value.

The seller subsidy column (closing cost assistance to buyers) is not changing much when comparing the six month values to their respective twelve month values.  And the changes do seem to indicate that buyers are requesting, and getting, ever so slightly more in closing cost help in the more recent past.

Finally we come to days on market, or as I like to call it–marketing time.  The six month median and twelve month median are exactly the same.  The better news is that the six month average marketing time is shorter than the the twelve month average marketing time.  This means Braemar Courtyard homes have been selling faster.

If you placed your Braemar Courytard home on the market, priced to current conditions,  you could expect to be under contract and well on you way to settlement in no more than two and a half weeks. You could also expect to pay a little more than 1.5% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in November. Until then, if you are thinking of selling next spring, why not give me a call and learn the benefits of our fall market.  There are plenty of reasons I call fall, our second spring market and I am happy to tell you all about them.  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

 

 

 

Braemar Property Value Report: May-June 2019 (Courtyard Series)

Braemar Property Value Report: May-June 2019 (Courtyard Series)

It’s finally beginning to feel like summer.  Sure it has been sunny and hot, but that’s not what I mean about feeling like summer.  To this Top Braemar Listing Agent, feeling like summer means the real estate market starts to slow down a bit.  And sure enough, this is the first full week that I have not been booked day in and day out.  Summer vacation season is upon us, which means the real estate market may finally be taking a breath.  That’s fine.  It is just in time for me to roll out my Braemar Property Value Reports.

Today’s report focuses on sales activity of Braemar Courtyard Series homes in May and JuneIf you don’t know what defines a Braemar Courtyard home, they are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Ballston and Clarendon.

Between May and June, three Braemar Courtyard homes were sold.  By chance, all were Clarendon models with walk out basements.  Oddly, if you take a look at the sales below, the one with the fewest bedrooms sold for the highest price.  But with such a tight grouping of final sold prices, I think the walk out basements had more to do with those prices.

When these three sales are combined with the entirety of the last twelve months of Braemar Courtyard home sales, we get updated six and twelve month data points.  Let’s take a look.

Our first data point, sold price, shows good a good trend.  Both the six month average and six month median sold prices are above their respective twelve month sold prices.  That means Braemar Courtyard homes are continuing to gain value.

Seller subsidy, a.k.a. closing cost help to buyers, reveals a trend that is not as great.  Both the six month seller subsidy values are more than their twelve month counterparts.  That means buyers are asking for, and getting, more closing cost help lately.

Finally, we come to days on market.  With the change to our new MLS in November 2018, we began getting two different ways of counting days on market depending on which contract status you chose.  In our previous MLS, no matter what contract status you chose, days on market stopped counting.  Until we get to January 2020, we won’t have an apples to apples comparison.  As it stands with the data above, the six month average days on market is shorter than the twelve month days on market.  Meanwhile the six month median days on market is longer (by one day only) than the twelve month median days on market.  My greatest hope is our new MLS will eventually adopt the same days on market counter as our last MLS.  For now, we have to deal with the data we have.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement within four to five weeks.  You could also expect to give at least a little more than 1% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in September.  Until then, give me a call when the time for the sale of your Braemar home is nearing.  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

 

Braemar Property Value Report: May-June 2018 (Courtyard Series)

Braemar Property Value Report: May-June 2018 (Courtyard Series)

The one thing about the rainy and cloudy days we have been having in Bristow is that the typical soaring July temperatures are not soaring at all.  I think I saw eighty-four degrees on my thermometer today.  While I’m not a fan of torrential rain or cloudy, stormy days, I’ll take the cool down in temps.

Rainy days are always good days for this Top Braemar Listing Agent to share with you my Braemar Property Value Reports.  This particular report will focus on sales in the Courtyard Series homes.  Braemar Courtyard homes are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Ballston and Clarendon.

Like many reports in the last thirteen years, there were no Courtyard home sales during our reporting time frame.  Thankfully, because I have been employing a different method of tracking value, we still have an updated look at what is happening in the short term (six months) compared to the longer term (twelve months.)  Our updated figures, dropping the sales from May and June last year, look like this:

Looking at the six month average and median sold prices compared to the twelve month average and median sold prices, we see a slight drop in values.  Not to worry.  The drop is very minimal.  The six month average seller subsidy (closing cost help to buyers) is higher than the twelve month average seller subsidy.  Again, not to worry.  The six and twelve month median seller subsidy figures are identical.  Meanwhile, days on market is practically the same in the six month average and twelve month average.  The six and twelve month median days on market is exactly the same.  This is stability for Braemar Courtyard home prices.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in about thirty days.  You could also expect to pay about 2.5% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in September.  Until then, if you have been considering the sale of your Braemar home, don’t count out the fall market.  It’s what I call our second spring market.  Want to know more about that, or the specific value of your Braemar home in our current market, give me a call at 703-402-0037.  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.SellingBraemar.com

 

 

Braemar Property Value Report: March-April 2018 (Courtyard Series)

Braemar Property Value Report: March-April 2018 (Courtyard Series)

Another dreary day means another perfect opportunity to share the latest information on Braemar home values.  Today’s Braemar Property Value Report will focus on Courtyard homes.  Braemar Courtyard homes are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Clarendon and Ballston.

There were two Braemar Courtyard homes that sold between March and April.  The details of those sale are below:

Taking these two sales and adding them to the rolling twelve month pool of Braemar Courtyard home sale data, here is what we get:

First of all, the great news is that most recent sales at the top are both ABOVE the six and twelve month average and median sold prices.  That is indicative that will we will be seeing an increase in values.  Right now, comparing our six month average and median sold prices to the twelve month average and median sold prices we see hardly any movement.  Where do see change is that the six month average and median seller subsidy (closing cost assistance to buyer) is up from the twelve month average and median seller subsidy.  Not a trend future Braemar Courtyard home sellers like to see.  Nor is the increase in marketing time in the six month values vs. the twelve month values.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in about one month.  You could also expect to pay three percent of the sales price in closing cost help.

The next Braemar Property Value Report will be out in July.  Until then, if you want to know that the current market conditions mean to your home’s specific value, give me a call.  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.SellingBraemar.com

Braemar Property Value Report: November-December 2017 (Courtyard Series)

Braemar Property Value Report: November-December 2017 (Courtyard Series)

While bitter cold days are ones I typically like to spend devoted to doing things at my home office, like this Braemar market report, that wasn’t all I was destined to do today.  This devoted Braemar Real Estate Agent was out and about showing property, writing an offer, keeping a deal together for the sale of my own mother’s home and teaching a class to new agents.  Even with all that, I didn’t want to get too behind on my Braemar market updates.  So last task of my day is this report.

This particular Braemar Property Value Report focuses on sales of Courtyard homes.  If you don’t know, Courtyard homes are one of three different floor plans that share a private courtyard driveway and have limited outdoor space.  Models include the Arlington, Clarendon and Ballston.

There were two Braemar Courtyard homes that sold during the last two months of 2017.  The details of those sales are as follows:

When we take these two sales and put them in with our rolling six and twelve month Courtyard home sale pool, we find some mixed news.  On the one hand, six month median and average sold prices are higher than the twelve month median and average sold prices.  All alone, this would indicate rising prices for sellers.  But we must also look at what’s happened in seller subsidy (closing cost help to buyers.)

The six month average and median seller subsidy is substantially higher than the twelve month average and median seller subsidy.  This means that NET sold prices are likely to be much the same, or maybe a tad lower.  After all, it is what a seller walks away with that matters most.  If a seller gets $419,000, but has to pay $12,000 in closing help, they only walked away with $407,000.

Marketing time (DOM) has also gone up a bit in the short term values compared to the longer term.  That means it is taking a little longer for Braemar Courtyard homes to sell.  Not all that surprising at the end of the year to see this trend up.

If placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in about a month.  You could also expect to pay 2% to nearly 2.5% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in March and will focus on sales from January and February.  I know we’ll already have one sale in there, because I sold it on January 5th.  Until then, they when you are ready to sell your Braemar Courtyard home, give me a call.  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.SellingBraemar.com