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


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


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


Statistics compiled using the MRIS (Metropolitan Regional Information System

Another Three Bedroom Braemar Townhouse SOLD!

Another Three Bedroom Braemar Townhouse SOLD!

On March 31st (2016,) in the late hours of the evening, I uploaded my latest listing into our multiple listing service.  With practically no townhouses on the market in the 12164 Drum Salute Place sold for $340K on June 9, 2016Bristow area, let alone in Braemar specifically, I knew this three bedroom townhouse at 12164 Drum Salute Way was not going to last.

When the Seller and I had meet to go over comparable sales and pick a list price, the low inventory played a key factor.  If there is ever a time when you can push the envelope and get a higher value for your home, it is when there is no competition.  The recent sales showed that like homes had sold for around $325,000.  The Zestimate on Zillow showed a price of $308,757.

My Seller had replaced virtually everything inside in the townhouse in recent renovations, down to the toilets.  She had a wooded lot, fenced yard, stamped concrete patio, wood deck with retractable awning.  She had even painstakingly planted mini-shrubs called mondo grass so she would never have to mow.  Taking the top of the line condition and the lack of competition into account, we landed on a list price of $335,000.

Kitchen--12164 Drum Salute

Within two days we had an offer and threats of more.  While I work at the discretion of my clients, I never advise a Seller to wait and collect offers.  You may lose the early offers you got due to frustration in the lack of response.  And, let’s face it, you can only sell to one person anyway.  Don’t like the offer you got?  Counter it.

My Seller didn’t have to counter.  She had an offer for $345,000 with a request for $10,000 in closing cost help.  She was happy to sign it with only one request, a settlement date in early June vs. mid-May.  The Buyers agreed and just like that, this Braemar townhouse was under contract.

LR Bay Window--12164 Drum Salute

We were all a bit nervous about the appraisal.  Remember when I said comparable sales showed like townhouses sold for $325,000?  That matters to appraisers.  I pulled comps, talked about the market conditions and gave the long list of updates/upgrades to the appraiser.  A week later, I had to call the Seller and tell her the appraisal had come in lower than our sales price, at $340,000.  Because we had the ultimate expectation of $325,000, we both saw it the same way, we were still ahead.

On June 9th, this three bedroom townhouse in Braemar closed for $340,000.  The Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037Buyer still got their closing help and the Seller was able to set the highest sales price in the neighborhood for a townhouse since the fall of 2007, keeping values in our neighborhood rising.

When you are ready to sell your Braemar home, make the most of your only opportunity to get the maximum equity and give me a call.  No One Knows Braemar Better!

Chris Ann Cleland, Associate Broker-Licensed in VA

Long & Foster REALTORS®, Manassas VA