Braemar Patio Quarterly: January-March 2018 (1st Quarter)

Braemar Patio Quarterly: January-March 2018 (1st Quarter)

It is time for another Braemar Patio Quarterly, which I know is going to make one of my family members very happy.  She happens to own a Braemar Patio home and has been waiting for the latest scoop,  With any luck, she is not the only one who will find this market breakdown of the first quarter sales of Braemar Patio homes useful.

If you don’t know what a Braemar Patio home is, they are often referred to as the quads in our community.  Each unit is two levels and is attached on the back and side to its neighbor.

There were two Braemar Patio homes that sold in the first three months of 2018.  The details of those sales are below:

Maybe you will notice the change added to the details of each Patio home sale.  One of the things that makes some patio homes different from others is the fact that one floor plan in particular offers a main level bedroom.  You will see that both Patio homes sold in the first quarter have those floor plans as they are marked affirmatively for having a “Main Level BR.”  Final sold prices were $325,000 and $340,000.

When we take these sales and add them in with the Braemar Patio homes sold in the second, third and fourth quarters of 2017 we get an entire year’s supply of data.  When we parse that data out into six month and twelve month markers, here is what we find:

The six month average and median sold prices are ever so slightly higher than the twelve month average and median sold prices.  Any movement forward in the short-term is a good thing.  Meanwhile, the seller subsidy (closing cost help to buyers) is heading down.  Marketing time has stayed about the same.

If you placed your Braemar Patio home on the market, priced to current conditions, you could expect it to be under contract in about a week.  You could also expect to pay about $3,000 in closing cost help, but you may get a motivated enough buyer to not have to pay any.

The next Braemar Patio Quarterly will be out in July.  Until then, when you want to know how the most recent sales are affecting your Braemar home’s 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

 

 

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Braemar Piggyback & Patio Quarterly: October-December 2016

Braemar Piggyback & Patio Quarterly:  October-December 2016

We have officially hit bitter cold winter temperatures.  I was out showing property this afternoon in Marshall, VA and I think I went numb.  When I say I was showing property, I mean land with no heated structure.  At this moment, I am quite content to be sitting in front of my computer, typing another Braemar Piggyback & Patio Quarterly.  or those who aren’t familiar with these types of home styles, Braemar Piggyback Townhouses are attached side-to-side and back-to-back.  While they do not offer back yards, they offer large bedrooms and a two car garage.  Braemar Patio Homes are also known as quads.  Each is attached at the side, back and corner to another Patio Home.  They have two levels, also offering large bedrooms and a modest side yard.

Braemar Piggyback TownhousePIGGYBACK

Unlike the third quarter of 2016 when five Piggyback Townhouses sold in Braemar, only one sold in the fourth quarter of 2016.  That’s one less than sold in the fourth quarter of 2015.  The sales price of our one Piggyback sale was $307,600.  That is higher that average sales prices from last quarter and last year.  However, it is lower than the high sales price last quarter.  We’ll have to see more sales in the first quarter, possibly into the second quarter, to see where values are heading.  My gut tells me they are holding steady.

Braemar Piggyback Values, 4th Quarter 2016

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it to be under contract in 41 days.  You could also expect to pay over 2.5% of the sales price in closing cost help for the buyer.

PATIO

Braemar Patio HomeJust like the fourth quarter of 2015, the fourth quarter of 2016 gives us only one Patio Home sale in Braemar.  There were fives sales in the third quarter of 2016.  The one sale we did have between October and December was for $300,000.  That is lower than the averages of last quarter and last year.  However, it is not lower than the low sales price from last quarter.  Just like the Piggyback Townhouses, we’ll have to get past the first quarter, possibly the second, to see where values are heading.

Braemar Patio Home Values, 4th Quarter 2016

If you placed your Braemar Patio Home on the market, priced to current conditions, Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037you could expect it to be under contract in 28 days.  You could also expect to pay 3% of the sales price in closing cost help for the buyer.

The next Braemar Piggyback & Patio Quarterly will be out in April and will details sales from the first quarter of 2017.  Until then, when it is time to sell your Braemar home, 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 Systems.)