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!
Associate Broker-Licensed in VA
Long & Foster REALTORS®