Braemar Townhouse Report: July-August 2018

Braemar Townhouse Report: July-August 2018

Putting together these Braemar real estate market reports is something I have been doing since 2005.  My intention is always to get them ready for the previous two months, as soon as the second of those months has ended.  Realistically, that means waiting until the middle of the month following the last month of the reporting period.  In this case, mid-September is when I started gathering data for this particular report.  Unfortunately, not every agent that lists and sells a home in Braemar works the same.  Some agents won’t invest in professional photography.  Others won’t meet appraisers at their Braemar listings to make sure the home appraises for sales price and you won’t have to lower your price.  And yes, some wait weeks to report when a sale closes.  The latter impacts me and my ability to report the latest in Braemar sales.  The other two, well, those impact seller’s final sold prices.

Bringing up the rear in the string of Braemar real estate reports is the Braemar Townhouse Report.  This report focuses on the last two months of Braemar townhouse sales.  And a Braemar townhouse, for the purposes of this report, is three level, attached structure with a fence-able backyard.  In other words, a traditional townhouse.

There were sixteen Braemar townhouses that sold during the months of July and August.  The low sold price was $285,000 and the high sold price was $370,000.  The details of these sales are listed below:

When we take these sixteen sales and replace the sales from July and August 2017 in our rolling twelve month pile of data regarding Braemar townhouses, here is what we find/:

The six month average and median sold prices are well above the twelve month average and median sold prices.  That means Braemar townhouse values are continuing to increase.  I’m just as happy to report to that the six month average and median seller subsidy (closing cost help from sellers to buyers) is lower when compared to their twelve month counterparts.  That means Braemar townhouse sellers are having to give less in closing cost help.  Finally, the six month average and median days on market (marketing time) is lower when compared to the twelve month average and median.  Braemar townhouses have been selling even faster lately!

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in a week or so.  You would also expect to give about 1% of the sales price in closing cost help to the buyer.

The next Braemar Townhouse Report will be out in November and will detail sales from September and October.  Until then, when you are ready to sell your Braemar townhouse, please know that this Top Braemar Listing Agent hires professional photographers, does light staging, meets appraisers at your property and much more to get you the most you can when selling your largest asset.  You only get one shot at selling your home.  There are no do-overs.  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 Townhouse Report: March-April 2018

Braemar Townhouse Report: March-April 2018

Before embarking on any Saturday fun, which this Top Braemar Real Estate Agent intends to have today, I’m putting out this last Braemar real estate market report.  The Braemar Townhouse Report is always the last in the series of bi-monthly reports that I compile.

There were seven Braemar townhouses that sold during the months of March and April.  The details of those sales are below:

When take these seven sales and place them in the rolling pool of Braemar townhouse sales for the past year, we get updated six and twelve month data points that look like this:

Seeing that the six month average and median sold prices are both higher than the twelve month average and median sold prices means that Braemar townhouse values are still pushing up.  Meanwhile, seeing that the seller subsidy (closing cost assistance to buyers) in the six month values is lower than the seller subsidy in the twelve month values, shows that sellers, in this seller’s market, are able to negotiate deals with lower closing costs recently.  That means Braemar townhouse sellers are netting more money from their sales.  The marketing time, however, is the same in the median values in the short and long term, but the average marketing time in the last six months increased compared to that in the last twelve months.  Three days is not an increase to even concern yourself about.

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

The next Braemar Townhouse Report will be out in July.  Until then, when you want to know what our current market conditions mean to your specific townhouse 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 Townhouse Report: January-February 2018

Braemar Townhouse Report: January-February 2018

Nothing like cutting it down to the wire.  Being a Top Bristow Real Estate Agent, the best laid plans can go awry when you are dealing with multiple offers on listings during the week of Spring Break.  Normally, I try to get all of my Braemar market reports out by the end of the odd months.  Before I roll out for a family function, I am determined to keep my Braemar readers up to date with this Braemar Townhouse Report.  Let’s get to it.

There were four Braemar townhouses that sold during the first two months of the year.  Their sold prices ranged from $289,900 to $360,000.  Details of these sales are below:

When we take these sales for the first two months of the year and add them into our bank of sales from the last twelve months, here’s what we find:

The six month average sold price is a little higher than the twelve month average sold price.  This would indicate values are still pushing up.  However, the six month median value is below the twelve month median.  That would indicate values may be leveling out.  Only time is going to tell what is happening with values.  Meanwhile, the six month values in seller subsidy, compared to the twelve month values, shows buyers are getting more in closing cost help from sellers.  And while this does show that marketing time is taking longer in the short-term, I’m here to tell you that we have very little inventory when it comes to Braemar townhouses and strong buyer demand.  NOW, is the time to put your Braemar townhouse on the market.  Waiting until school is out is essentially waiting for buyers to be on vacation.

The next Braemar Townhouse Report will be out in May.  Until then, give me a call when you are ready to sell your townhouse.  I’m seeing more and more out of the area agents under pricing homes because they don’t know the selling features, or demand, in our neighborhood. I promise not to under price your Braemar home. 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 Townhouse Report: July-August 2017

Braemar Townhouse Report: July-August 2017

You couldn’t get a more beautiful day to end the work week than today.  Of course, if you are a Bristow Real Estate Agent, Friday is not the end of the work week.  Showing homes on the weekend is par for the course.  This Bristow Real Estate Agent doesn’t have weekends off.  I work when my clients are available.  Evenings, weekends, holiday weekends. And this gorgeous Friday evening is no different.  I’ve got one more Braemar market report to crank out, and this is it.  Ladies and gentlemen, welcome to the Braemar Townhouse Report.  For the purposes of defining a Braemar townhouse, this report focuses on sales of non-condo ownership, traditional townhouses with three stories and a back yard, attached only on the sides.

There were eight Braemar townhouses that sold during the last two months of the summer.  The details of those sales are as follows:

For starters, the great news is that five of these eight recent sales are higher than the six month average market value.  Three of them are higher than the six month median market value.  Taking a closer look at how these recent Braemar townhouse sales change the six and twelve month average and median values, we see that both the six month average and median values are above the twelve month average and median values.  That means Braemar townhouse values are still moving up.  The cherries on top are the six month seller subsidy values are belwo the twelve month numbers.  And the marketing time, virtually unchanged from the twelve month values to the six month values, is still very fast.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be reasonably expect it to be under contract in a week, no longer than two weeks.  You could also expect a pay out $2,500 to $3,000 in closing cost help to the buyer.

The next Braemar Townhouse Report will be out in November and will detail sales from September and October.  Until then, if you want to know what these recent sales mean to the value of your Braemar townhouse, 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®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

Braemar Townhouse Report: May-June 2017

Braemar Townhouse Report:  May-June 2017

Not every agent that sells real estate in Braemar, keeps their finger on the pulse of the market.  One of the things I love about doing my Braemar market reports is that it keeps me informed of our neighborhood market to keep YOU informed about it.  And doing these reports since 2005 has really helped me understand what makes our neighborhood real market tick.  That knowledge I have acquired through constant compiling of Braemar real estate data makes selling my Braemar listings that much faster and more profitable for my sellers.

This particular report is the Braemar Townhouse Report.  In it, I break down the sales of traditional townhouses in Braemar for the months of May and June.  And just to clarify what a traditional townhouse is, it is one with three levels, a backyard and is NOT condo ownership.

There were twenty-one Braemar townhouses sold in the last two months.  Their sold prices ranged from $280,000 to $359,900.  Each sale is detailed below:

When we combine these most recent Braemar townhouse sales with our rolling six month and twelve month value data points, this is what we find:

Both the six month median and average sold prices are above their twelve month counterparts.  This means values of Braemar townhouses are going up.  More good news is that seller subsidy (closing cost assistance to a buyer) has gone down from the twelve month median and average values, to the respective six month values.  Even marketing time in the six month values has come down ever so slightly.

If you placed your Braemar townhouse on the market, priced to current conditions, you could reasonably expect it to be under contract in one to two weeks.  You could also expect to pay about one percent of the sales prices in closing cost help to your buyer.

The next Braemar Townhouse Report will be out in late September.  At that point we will be looking at activity from the months of July and August.  Until then, if you want to know how recent sales have affected your specific Braemar townhouse, 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®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com 

Braemar Piggyback Quarterly: January-March 2017 (1st Quarter)

Braemar Piggyback Quarterly:  January-March 2017 (1st Quarter)

Are you as happy as I am that it is sunny today?  Too many dreary days in a row bring me down.  Guess I should enjoy this sun while I can.  The extended forecast for Bristow had shown a lot of cloudy days coming up, but I just looked and it seems that some of those days are now showing as partly sunny.  We’ll have to wait and see what Mother Nature gives us.  Predicting the weather may be similar to predicting real estate values.  You can say exactly what is going to happen, but you can have a pretty good idea.

In this Braemar Piggyback Quarterly we will look at the most recent sales activity and how that compares the six and twelve month values compiled.  Of course, let me explain what type of home we are referring to when we say Piggyback.   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.  

There was one Braemar Piggyback townhouse that sold in the first quarter of 2017.  It was located at 12760 Brewland Way and was an end unit, so it had a nice side yard to offer.  It listed for $329,500 and sold for $317,000.  It also took 31 days for it to go under contract.  How does that compare to the six and twelve month values we have?

While there are only two values for the total of the six month period, the most recent sale at $317,000 being one of those, it appears the most recent sale is pulling values up.  The average six month sold price (and median) was $312,300.  The average twelve month sold price was $302,263.  The median sold price in the last twelve months was $308,800.  That makes it obvious that this most recent sale is indeed pulling values up.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it to take 20 to 36 days to go under contract.  You could also expect to pay some closing cost help.  The most recent $4,125 average seller subsidy number found in the last six months is probably a great place to set expectations.  Lack of inventory has lead to more buyer competition.  And when buyers compete in real estate, requests for closing cost help often diminish or disappear entirely.

The next Braemar Piggyback Quarterly will be out in July.   Until then, if you want to take advantage of the increased buyer demand in Braemar, give me a call.  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.com

www.UncompromisingValues.com 

Braemar Townhouse Report: September-October 2016

Braemar Townhouse Report:  September-October 2016

This weekend after Thanksgiving, I have seen a lot of holiday decorations going up Braemar Townhousein Braemar.  I’ve even seen some Christmas trees in windows.  Just when you think the rapid approach of night is getting you down, holiday lights make it not just bearable, but happy.  Let’s enjoy them while we can,

Right now, it is time for another Braemar Townhouse Report.  This one will focus on sales activity from the months of September and October.  So without further delay, let’s get to it.

There were eight Braemar townhouses that sold between September and October.  Their sold prices ranged from $245,000 to $335,000.  The reason for the large price range is the difference in size of these townhouses.  Some may be two bedroom models with about 1400 square feet.  Others may be three bedroom models at 2100 square feet.  The average of all of the sales gives us our new average market value for Braemar townhouses of $293,913.  That is a very small decrease in average value since last report (only $464 difference,) but an increase in average value of nearly 2% since last year.

Braemar Townhouse Report:  September-October 2016

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in an average of twenty-three days.  You could also expect to give nearly 2% of the sales price in closing cost help for the buyer.

The next Braemar Townhouse Report will be out in January and will focus on sales from November and December.  Until then, when you are ready to sell your Braemar townhouse, give me a call for a free market analysis.  Since 2005, No One Knows Braemar Better!

Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037Chris Ann Cleland

 Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com 

Statistics compiled using the MRIS (Metropolitan Regional Information System