Braemar Property Value Report: March-April 2022 (Courtyard Series)

Braemar Property Value Report: March-April 2022 (Courtyard Series)

Sunny spring days are something just about everyone can agree is a good thing. We have most definitely hit the spring season, but our sunny days may actually be outnumbered by overcast and rainy days lately. Perspective can mean a lot in how we process information. Those drawn to bad news will inevitably see the negative and vice versa.

With regard to the Braemar real estate market, this Braemar Property Value Report actually breaks it down into understand numbers. This edition focuses on the Courtyard homes in our neighborhood. Courtyard homes are located on Orland Stone, Pentland Hills and Playfair.  Five detached 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 three Courtyard homes that sold in Braemar during the months of March and April. The details of those sales are listed below.

The low sold price at $583,000 is quite a ways off of the high sold price, repeated twice, at $630,000. Taking these sales and combining them with Braemar Courtyard home sales going back to May 2021 for one year’s worth of data, our six and twelve month market markers are updated and reflect the continuation of a seller’s favored market.

The six month average and median sold prices are most definitely higher than their respective twelve month values. This is the trend we have been seeing for a while now. As buyer demand has increased and inventory has not met the need, the market has driven up prices. Even in the face of rising interest rates, buyer demand remains strong.

Seller subsidy (closing cost help to buyers) is zero down the line. This means for at least one year, no Braemar Courtyard home seller has had to give any closing cost help. Multiple offer situations certainly help. Making sure your home is creating buyer enthusiasm helps with an increased price and not paying seller subsidy.

Days on market is the only place we may see the beginning of a shift. The six month average marketing time increased by four days. The six month median marketing time increased by only one day. Still, the most recent sales were under contract in single digit days. Only time will tell if this is a trend that will continue.

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 could also expect to give nothing in seller subsidy. As mentioned above, the key to the highest price and best terms is very much dependent on how your home is prepared and marketed. Who you hire to sell your home matters.

The next Braemar Property Value Report will be out in July. Until then, if you would like to investigate the sale of your home, I would love the chance to show you what I do for my Braemar sellers that get them to the top of the market. Consultations are free and come with no obligation on yoru part. 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: January-February 2022 (Courtyard Series)

Braemar Property Value Report: January-February 2022 (Courtyard Series)

As we head into the weekend, I thought I would take the opportunity to drop another Braemar Property Value Report online for my fellow Braemarians. This particular report focuses on the Courtyard homes built by Brookfield Homes. Courtyard homes are located on Orland Stone, Pentland Hills and Playfair.  Five detached 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 first two months of 2022 there was only one Braemar Courtyard home that sold. Details of that sale are listed below:

Going under contract in only three days and selling $45,000 above its list price, it is clear that the New Year started out with a buyer frenzy. If there had been more Courtyard homes on the market, the buyers in the marketplace would have gobbled them up. So far, the first quarter of 2022 has revealed what we saw in early 2021–way too many buyers for too few homes.

Taking the sale above and combining it with the entire past twelve months of Braemar Courtyard home sales, the six and twelve month data points are updated. Those actually show conflicting information that would be indicative of a shift in the seller favored market IF I didn’t have firsthand knowledge of what is happening in the market now.

Looking first at the sold price column, the six month average sold price being higher than the twelve month average sold price is the upward growth we see in a seller’s market. The six month median sold price falling below the twelve month median would be an early harbinger of a shifting market. But again, the most recent sale tells us otherwise.

Seller subsidy is where we learn how much closing cost help buyers were able to negotiate from their Braemar Courtyard home sellers. With zeros down the line, the answer is crystal clear. None!

Marketing time definitely shows a trend in the opposite direction we would expect. Both six month values are longer than their respective twelve month values. With only one sale from the first two months of 2022, I think the last four months of 2021 are skewing the data. I expect this will be less dramatic as those months fall off of the short term reporting.

If you placed your Braemar Courtyard home on the market, priced to current conditions, I do believe it would be under contract in less than one week, two at worst. And given that no Braemar Courtyard home seller has given closing cost assitance in twelve months worth of sales, I think it is safe to assume that trend will continue as the many buyers in the market fight over not enough homes to meet the demand.

The next Braemar Property Value Report will be out in May. Until then, if you want to talk over a possible sale in 2022, there is no time like the present to book a no obligation, confidential consultation with me. Even in a seller’s market, a super high sales price and great terms that favor you are not a guarantee. The seller’s market is what breeds lazy agents. You will never find that here. For goodness sake, I choose to hand produce these market reports. My listings get listing preparation advice, professional marketing and expert level negotations no matter the market. No corners are cut and that is what makes my sellers every dollar the market will bear. 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 2021 (Courtyard Series)

Braemar Property Value Report: November-December 2021 (Courtyard Series)

January is always filled with anticipation, particularly for those with plans to buy or sell in the New Year. Even in the midst of the 2021 holiday season, many asked what I thought the local real estate market had in store for 2022. In a recent online article, I did make some real estate market predictions for 2022. Obviously, the more local the information, the better. And since looking back, helps us see where we are headed, I make it my priority to keep my fellow Braemarians informed of our neighborhood real estate market through my Braemar Property Value Reports.

Today’s Braemar Property Value Report is focused on how Courytard homes fared last year. Braemar Courtyard homes are 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 November and December. The details of those sales are listed below:

There are two indicators in the recent sales that our Braemar Courtyard sellers may be seeing a cooling of the seller’s market. The first is the fact that neither home sold above list price. This is something we saw more of as we moved through the second half of 2021. Sellers maintained the market advantage, but the all out buyer frenzy has calmed down. The second indicator of change is the increased marketing times for these sales. You might dismiss those time frames are being long because of the holiday season. I am here to tell you that Braemar homes of all sizes sell in November and December. In fact, I listed and sold a Braemar townhouse in those two months.

When the sales listed above are combined with all of the Braemar Courtyard home sales from 2021, the six and twelve month data points outlined in every Braemar Property Value Report are updated.

Starting with the sold price column, the good news is that both the six month average and median values are above their respective twelve month values. Braemar Courtyard homes are continuing to gain value. The growth rate is likely to slow down in 2022, but I don’t think we will be looking at losses anytime in the near future.

Seller subsidy is where we find out how much closing cost assistance buyers were able to negotiate from their Braemar Courtyard home sellers. Despite even higher days on market in recent sales, the answer is zero and remains zero in all the six and twelve month data points.

Overall, the longer marketing times seen in November and December have not yet impacted the six and twelve month numbers. They are largely the same. The real question will be how we get off the starting blocks in 2022. If Braemar Courtyard homes continue to take longer to sell, we will see overall increases in the six month average and median time frames.

If you placed your Braemar Courtyard home on the market, priced to current conditions, this report’s average and median values indicate that you would be under contract in two weeks or less. The most recent sales in November and December make me wonder if that time frame might be longer. As for seller subsidy, you could expect to pay out nothing. Finally, you should be prepared to see buyers with home inspection contingencies again. This started to go back to normal in the second half of 2021 when our buyer frenzy calmed.

The next Braemar Property Value Report will be out in March. Until then, if a move is in your future, don’t wait to get the conversation started. My unparalleled neighborhood knowledge and professional marketing create buyer enthusiasm for all my Braemar listings, making my Braemar sellers thrilled. Getting you absolute max profit from your largest invesment is a job I take very seriously. 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: July-August 2021 (Courtyard Series)

Braemar Property Value Report: July-August 2021 (Courtyard Series)

This weekend marks the unofficial end of summer, which makes it a great time to share with you another Braemar Property Value Report (BPVR.) This particular report focuses on Courtyard homes in the 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.

This particular edition of the Courtyard Series BPVR will cover the last two months of summer, July and August. During that time there were four Courtyard homes that sold. That is a lot of Courtyard home sales for a two month period, as long-time BPVR followers know. Courtyard homes make up such a small percentage of homes in Braemar that is not unusual to have periods of one sale or none at all. The details of the Braemar Courtyard home sales from July and August are listed below:

Taking these sales with the entire past twelve months of Courtyard home sales in Braemar, the six and twelve month average and median data points we use to determine what is happening in the market are updated as follows:

Starting in the sold price column, we see higher values in the six month average and median than compared to their respective twelve month values. This means Braemar Courtyard homes are still increasing in value. While the rate of increase in average and median value last report was 3% and 5% respectively, it has slowed to 2.5% in average and median this report. Hey, an increase is an increase. And we all knew the ridiculous growth of the frenzied seller’s market was not/is not sustainable. Buyers taking time off of house hunting to vacation and more sellers coming to market simply made a less hectic seller’s market this summer. It is typical for our market to slow a bit from whatever pace it was keeping in spring when we hit summer.

Seller subsidy is where we find out how much closing cost help Braemar Courtyard home buyers were able to negotiate from their sellers. The answer across the board, or more acurately down the column, is zero. As buyers compete for fewer homes in a seller’s market, seller subsidy becomes a non-starter if a buyer wants to get under contract.

Marketing time shows exactly the same thing in the twelve month values as it does in the six month values. Braemar Courtyard homes continue to sell fast. The only recent Courtyard home breaking that norm is the one listed above on Playfair. It went under contract much later in the summer when things were slowing down.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect to be under contract in about a week. You could also expect to give nothing in seller subsidy.

The next Braemar Property Value Report will be out in November, where I suspect you will see proof of the strength of our fall market. If you want to find out more about what a year end sale during a seller’s market could mean for you, get in touch with me. 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 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