Braemar Piggyback Quarterly: October-December 2018 (4th Quarter)

Braemar Piggyback Quarterly: October-December 2018 (4th Quarter)

If you have been wondering what your Braemar Piggyback townhouse is worth, today is your lucky day.  This Braemar Piggyback Quarterly will tell you what sold in the fourth quarter of 2018.  And if you aren’t sure if you own a Braemar Piggyback home, they are the two car garage townhouses attached on the sides and back. They have no backyard, but make up for it with larger bedroom sizes than traditional townhouses.

There were two Braemar Piggyback townhouses that sold in the fourth quarter of 2018.  The details of those sales are listed below:

When we take these two sales, along with the previous three quarters of sales data from 2018, we can get some valuable data in the six and twelve month data points of sold price, seller subsidy (closing cost assistance to buyer) and DOM (marketing time.)  These are the updated six and twelve month data points for Braemar Piggyback townhouses:

Let’s start with sold price.  The six month average and median sold prices are both above the twelve month average and median sold prices.  This means values of Braemar Piggyback townhouses continue to go up in value.

When it comes to seller subsidy, the six month average  is nearly $1,200 below the twelve month average.  Even better, the six month median is zero, compared to the twelve month median seller subsidy of $3,500.  Braemar Piggyback townhouse sellers have been giving less in closing cost help.  And the last two sales of 2018, the sellers gave none!

Marketing time is a tricky one now because our data here is being measured differently since our market switched to a new MLS system in November.  Both of the sales reported here are likely unaffected by the MLS change, but in the future I expect marketing time to go up.  In this report, marketing time is unchanged in the last year.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, it would be unreasonable for you to expect your home to be under contract in about one month’s time.  You could also expect at the high end to give about 1% of the sales price in closing cost help, but you may luck out and get a motivated buyer that doesn’t need it.

The next Braemar Piggyback Quarterly will be out in April.  Until then, if you would like to receive electronic copies of the full report emailed directly to you, sign up by emailing me at ChrisAnn@LNF.com.  You can also reach me there, or by phone at 703-402-0037 for a free market analysis of your home’s value when the time comes to sell. 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 Quarterly: July-September 2018 (3rd Quarter)

Braemar Piggyback Quarterly: July-September 2018 (3rd Quarter)

It is time for another Braemar Piggyback Quarterly, detailing sales of Braemar Piggyback townhouses in the third quarter of 2018.  If you are wondering what a piggyback townhosue is, they are not only attached on the sides, but along the back too.  They have no back yards, like traditional townhouses, but have larger bedrooms than a traditional townhouse.  They also have two car garages.

There was one Piggyback townhouse that sold during the third quarter.  Details are below:

That sale alone doesn’t tell us much.  When we take this sale and put it in with the last year of Braemar Piggyback townhouse sales, we do get a chance to look at six and twelve month data points.  Current trends are found in the six month data points compared to the twelve month data points.  These are the current six and twelve month average and median values for Braemar Piggyback townhouses.

For starters, the most recent sale is well above the six month average and median sold prices.  That’s great news.  For trends, the six month average and median sold prices are higher than the twelve month average and median sold prices.   That means values of Braemar Piggyback townhouse are still pushing up.

When it comes to seller subsidy (closing cost assistance to buyers) the six month average is about the same as the twelve month average.  The six month median is a little lower than the twelve month median.  Right now, it seems Braemar buyers are still expecting closing cost help.  And the most recent sale would indicate it could be worse than the average or medians above.

The days on market (marketing time) has increased a little in the six month average compared to the twelve month average.  However, there is a larger increase in the six month median compared to the twelve month median.  Seems it is taking longer to sell Braemar Piggyback townhouses.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it to be under contract in about a month or a month and a half.  You could also expect to pay about 1.5% of the sales price in closing cost help to the buyer.

The next Braemar Piggyback Quarterly will be out in January.  Until then, don’t count our fall market.  If you want to know what your home is worth right now, give me a call at 703-4002-0037.  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