Braemar Property Value Report: November-December 2021 (NV Homes)

Braemar Property Value Report: November-December 2021 (NV Homes)

Happy New Year, my fellow Braemarians. There is no doubt that many of you are wondering what the 2022 real estate market has in store for us. My experience in the market as top producing agent, as well as the time I take to create these market reports, keeps me head and shoulders above my colleagues. Most agents are happy to cut and paste statistics, some without even reading them. I take the time to collect the sales data and compile these reports myself. Real estate is a business of self-motivation. We are not required to do anything to keep our businesses going but to complete continuing education classes. I do these reports because I believe in keeping myself and my neighborhood informed.

This Braemar Property Value Report is focused on houses built by NV Homes. The sales detailed below are from the last two months of 2021.

The first thing I noticed about this sale was that the list price had been changed to match sales price AFTER it went under contract. This is a practice a lot of listing agents started to use in our crazy seller’s market in hopes of getting homes to appraise for sky high prices. I am not in agreement with the practice, only because I was trained by appraisers. They have all the same information I see in the MLS. You can’t fool them with a price increase. The best way to get a house to appraise is to have an appraiser package ready with comparable sales and lists of updates. I included the original list price above. It closed for $50,000 above in its sales price. Obviously, Braemar home sellers are still enjoying our seller’s market.

Taking all the NV home sales from 2021 and updating our six and twelve month data points, we get the best sense of how our market has been trending in the short term, compared to the long term.

Starting with the sold price column it is fantastic to see both six month values above their respective twelve month values. This means NV homes in Braemar are still gaining value. Not surprisingly, as the second half of 2021 cooled the all-out buyer frenzy we had been experiencing since early 2020, the growth rate slowed a bit. I figure that out by dividing the six month value by its respective twelve month value. In this report, the six month average growth rate was 3.1% and the six month median growth rate was 1.4%. Last report, those numbers were both 3.5%. Growth is growth. This year should see more, but at a more sustainable rate.

Seller subsidy, also known as closing cost help from seller to buyer, is super low in the averages and non-existent in the medians. The latter is more important. It means that in both time frames, more than half of NV home sellers gave no seller subsidy.

Days on market remains very fast for homes that are show ready and create buyer enthusiam. Lately, not all homes are going under contract in a matter of days, but the ones prepped and professionally marketed are. One day upticks in the average and medians are nothing.

If you placed your NV home in Braemar on the market, priced to current conditions, you could expect it to be under contract in less than a week. You also expect to give nothing in seller subsidy. As far as contract contingencies your offers are likely to have the three standards: financing, appraisal and inspection. With the frenzy gone, and a more reasonable seller’s market, buyers were more measured in their actions during the second half of the year.

The next Braemar Property Value Report will be out in March. Until then, if 2022 is the year you were thinking of selling, there is no time like the present to consult a local, professional agent like me. Getting Braemar sellers top dollar through exceptional listing preparation advice, professional marketing and unparalleled neighborhood knowledge is what I do best. 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 Reflection Quarterly: July-September 2021 (3rd Quarter)

Reflection Series Home

Braemar Reflection Quarterly: July-September 2021 (3rd Quarter)

The time has come for another Braemar Reflection Quarterly. This is the Braemar market report for the semi-attached homes located only on Tarvie Circle in our neighborhood. These homes are unique in that they are only attached at the rear load garage to one neighboring home. In this edition we look back on the third quarter of 2021 to see what happened in the zReflection market.

Between the months of July, August and September, there was only one Braemar Reflection home that sold. Not unusual for only one sale of these homes in a three month span. That’s why this is only a quarterly report. The details of the third quarter sale for 2021 are listed below:

The sold price of $640,000 is certainly the highest we have seen in the last year of Reflection homes. The one sale from the second quarter was just over the $600K mark. We are well into the six hundreds with this one.

Taking the past year’s worth of Braemar Reflection home sales and parsing them down to six and twelve month data points, this is the result:

The six month average and six month median sold prices are identical. Nonetheless, they are both way above their respective twelve month values. The growth rate in the six month average sold price this report is 12%. The six month median sold price growth this report is even higher at 14%. Compared to the second quarter’s average growth rate of 15% and the median growth of 23%, these third quarter growth rates are lower. While we are still in a seller’s market, it seems the all out buyer frenzy has cooled a bit, but not ended.

Now to the seller subsidy column where we learn how much closing cost assistance Braemar Reflection home buyers were able to negotiate from their sellers. While the most recent sale is none, the six month average and median at $4,000 tells us that last report seller subsidy was a factor. The more telling number are the median values being $4,000 as well tells us that more than half the seller’s in both time frames gave at least $4,000.

When it comes to days on market, the magic number seems to be eight. All values are in agreement at eight days marketing time except the twelve month average of nine days.

If you placed your Braemar Reflection home on the market, priced to current conditions, you could expect it to be under contract in a little over a week. You could also expect you may have to give some seller subsidy.

The next Braemar Reflection Quarterly will be out in the New Year. Until then, when the need or want to sell your Reflection home in Braemar arises, I would love the chance to talk to you about how I help my sellers get maximum profit by increasing buyer enthusiasm. Even in a seller’s market, it matter. My professional marketing combined with my unparalleled knowledge of Braemar never ceases to make my Braemar sellers extremely happy. 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 (Ryan Homes)

Braemar Property Value Report: July-August 2021 (Ryan Homes)

Another gorgeous September day brings another Braemar Property Value Report. The days are gradually cooling off, and perhaps our real estate market as well. In this edition of the BPVR we focus on sales of houses built by Ryan Homes in the neighborhood during the last two months of summer.

During July and August there were ten Ryan Homes in our neighborhood that sold. I was pleased to have listed one, which you will see highlighted in pink below:

Sold prices ranged from $610,000 to $770,000. I know the listing I had at 12809 Gentle Shade Drive hit a happy spot with buyers despite not having top of the line updates and a fully finished basement, getting $68,000 above list price. That’s the biggest leap from list price to sold price in the most recent sales. See what hiring a professional marketing agent that knows the neighborhood like the back of her hand can do for you.

Taking these ten sales and combining them with the last twelve months of Ryan Home sales in Braemar, our six and twelve month data points are updated and continue to show the strength of our seller’s market.

Starting with the sold price column, we see both the six month average and six month median values are higher than their respective twelve month values. Despite the buyer frenzy cooling off a bit this summer, Ryan Homes are still gaining value. And unlike some of the homes I have reported on lately, Ryan Homes saw a steady rate of increase in the twelve month average to the six month average of 2% since last report. Better yet, while some homes have seen decreases in median value gains since last report, Ryan Homes saw a 5% uptick since last report’s 2% median growth. All great news.

Seller subsidy is where we learn how much closing cost help buyers were able to negotiate from their sellers. Down the line in the ten most recent sales, the answer is zero. That is also the answer in the seller subsidy average and median values with the exception of the twelve month average. Out of twenty-three sales in the past twelve months, only one seller gave closing cost assistance, which is why the average is such a low value.

Days on market is five days down the line. Some of the most recent sales happened ever faster than that, some longer. However Ryan Homes are still selling ridiculously fast as inventory still is not enough to meet buyer demand.

If you placed your Ryan Home on the market, priced to current conditions in our Braemar real estate market, you could expect your home 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 November and will let us know if fall is off to a strong start, which I suspect it will be. Our year end market is usually a great one, fueled by the beginning of the fiscal year for the Federal government. Until then, if you want to investigate the possibility of selling your Braemar home, get in touch with me. Since 2005, No One Knows Braeamar 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 (Heritage Series)

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

Welcome to another edition of the Braemar Property Value Report. This particular report focuses on sales of Heritage Series homes in our neighborhood. Heritage homes are mid-sized single family homes, built by Brookfield Homes.  They have two car attached garages and include the following floor plans:  Exeter, Yardley, Zachery (a.k.a. Zurich) & Waverly.  The homes built by Coscan in Braemar North Gate are also included in this group, as they are similar in size. This edition looks back to the last two months of summer.

During the months of July and August there were nine Braemar Heritage homes that sold. Their sold prices ranged from $571,234 to $675,000. As you look through the total number of bedrooms, bathrooms and the basement finishes below, you will see a wide variety. This report sale three, three bedroom homes sold and three homes with unfinished basements sold. Both of those of those factors are not what we typically see in the Heritage home sales. The details of all nine are listed below:

Taking all nine sales and combining them with the entire past twelve months of Braemar Heritage home sales, the six and twelve month data points are updated as reflected below:

Looking at the sold column we see an average increase in value from twelve months to six months of 4%. The median increase in value from twelve months to six months is 5%. Summer certainly slowed the pace of our growth. Just last report, the average growth in six months was 8% and the median growth in six months was 11%. Though we are still in a seller’s market, the summer months saw a cooling off of the buyer frenzy as many focused on enjoying summer vacations. Meanwhile, more sellers jumped into the market. That meant fewer offers from buyers where sellers had been seeing a dozen or more earlier in the year. Nonetheless, growth is growth and buyers are still outnumbering sellers.

Seller subsidy is where we learn what buyers were able to negotiate from their Braemar Heritage home sellers. The answer overall is not much, if anything at all. Of the nine sales listed for this reporting period, one buyer got $300. All else received nothing. The six month average and twelve month average seller subsidy numbers are very low as well. The median seller subsidy for both time frames being at zero means that more than half of sellers gave nothing in closing cost help as buyers competed for homes.

Marketing time is as steady as it can be and still remains in the single digits they have been. A quick scan of the nine sales above reveals only one seller that took nearly three weeks to go under contract. It was a three bedroom Yardley with an unfinished basement. Definitely not the most sought after home in our neighborhood. And it was only one of two sales this report period that took less than list price.

The next Braemar Property Value Report will be out in November. At that time, we will have a great idea if the fall selling market lifted buyer demand again. I suspect it will. Our market enjoys a the majority of its workers being Federal employees, directly or indirectly. The Federal budget year starts fresh every October 1st. That means raises and more jobs. The year end market can be a powerful one for sure. If you are interested in hearing more about it, 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 (Ryan Homes)

Braemar Property Value Report: May-June 2021 (Ryan Homes)

Ah Monday…my favorite day of the week. Ever since becoming a Bristow Real Estate Agent, I have loved the start of the work week and today is no exception. While my travels today had me outside of Bristow, helping buyers who had once sold in Braemar, but relocated to Locust Grove, I am happy to end my day doing what I do best…helping Braemar home owners.

What I bring to you today is the Braemar Property Value Report for houses built by Ryan Homes in our neighborhood. This particular edition focuses on the sales between May and June, and then provide updated six and twelve month data points that allow us to decipher the direction of the market. Let’s get right to it.

There were five Ryan Homes that sold in Braemar in May and June. The details of those sales are listed below:

There is a large variation in sold price in the five sales, ranging from $536,000 to $740,000. The variation, in large part, comes the variety in home sizes that Ryan Homes offered in Braemar. Another factor, of course, is the finishes each home offers on the market.

Taking these sales and combining them with the entire past twelve months of Ryan Home sales in Braemar, the six and twelve month data points show signs of a very healthy seller’s market.

Starting with the sold price column, we see that both the six month average and six month median sold prices are higher than their respective twelve month values. This means that Ryan Homes in Braemar are continuing to gain value in the seller’s market.

The seller subsidy column is where we learn how much closing cost assistance buyers were able to negotiate from their sellers. In all but the twelve month average, the answer was zero. And the twelve month average only has a value because ONE Ryan Home sale, out of fifteen that happened in the past twelve months, gave $3,000 in seller subsidy. That sale was in September 2020. There has been no seller subsidy given in Ryan Home sales since. In the seller’s market with so little inventory, buyers are having to forego many requests to make their offers strong enough to be chosen in multiple offer scenarios.

Days on market needs no real analysis. Down the line from six month average and median to twelve month average and median, the number of days it took to go under contract was four. Obviously, some of the more recent sales took longer, but average and median values are so steady it is scary.

If you placed your Ryan Home on the market, priced to current conditions, you could expect it to be under contract in less than one week. You could also expect to give nothing in seller subsidy.

As I type this, I have noticed in July that buyer demand is decreasing a bit. Still, buyers outnumber sellers, but not by as much as before. What has likely happened, as does every July and August, is that sellers rush to sell when school is out while buyers go on summer vacation. Expect things to heat back up in the fall.

The next Braemar Property Value Report will be out in September. Until then, if the need arises to sell your home, get in touch with me. Sellers are leaving money on the table in many deals in this seller’s market. By hiring inexperienced, or cut rate agents that put zero effort into marketing a property or giving seller’s notes on getting a home market ready, buyer enthusiasm lacks. My job is to create buyer enthusiasm to get the max ANY market will alow. It is done with proper listing preparation and professional marketing. My efforts don’t wane because buyer demand is high. 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: March-April 2021 (Arista Series)

Braemar Property Value Report: March-April 2021 (Arista Series)

Looking out my window the past few days, the reality that spring is here is evident in the blooming of my American Fringe Tree. As a Top Bristow Real Estate Agent, I’ve been running like crazy since the beginning of the year. Time has a tendency to fly by. With March and April behind us, it is time for me to get to my Braemar Property Value Reports. Today’s edition is for Arista homes in the neighborhood, which are the largest, built by Brookfield Homes, in Braemar. Braemar Arista homes include the Allister, Buckingham and Canterbury models by Brookfield Homes.

There were two Arista homes that sold during our current reporting period of March and April 2021. The details of those sales are detailed below:

Wow! There is a big difference in price between these two Canterburys. Just a stroll through the listing photos revealed the sale from April 16th could have benefited from refinished hardwood floors. When they show worn in a photo, they are probably even more so in person. That may have helped them over come their lot which has an unobstructed view of the cell phone tower. Both had done nothing to neutralize colors, but the one that sold on April 20th had upgraded kitchen counters, flooring in better shape and more finished space in the basement.

Taking these two sales and combining them with the previous ten months of Arista home sales to give us one year’s worth of data, the six and twelve month values are updated and show a very noticeable difference.

The sold price column will have Arista home owners jumping for joy. The six month average sold price is nearly ten percent higher than the twelve month average sold price. The six month median sold price is almost fifteen percent higher than the twelve month median sold price. Braemar Arista homes are sky rocketing in price.

Seller subsidy (closing cost help to buyer from seller) is at zero in both six month values and even the twelve month median. You have to go to the twelve month average to see anything at all. A glance at the Arista homes sold in the past year revealed that seller subsidy seems to have gone completely absent as of September last year. Buyers are having to come in with very few requests of sellers these days to get accepted in multiple offer situations.

Days on market shows the six month average and six month median both at two days. Not a big change in the median days on market when compared to the twelve month time frame. The twelve month average was about a week and a half. Homes are going super fast these days.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contract in a matter of days after multiple offers and be confident you will give nothing in seller subsidy.

The next Braemar Property Value Report will be out in July. Until then, get in touch with me when a sale of your Braemar home is on the horizon. Any home will sell in a seller’s market, but well prepared and professionally marketed, your home would sell for even more than homes with little preparation and/or poor marketing. It still matters who you hire to list your home 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
www.ChrisAnnCleland.com

Braemar Property Value Report: January-February 2021 (Ryan Homes)

Braemar Property Value Report: January-February 2021 (Ryan Homes)

It’s been a dreary, drizzly day in Braemar today. Nonetheless, the real estate market is ticking right along. I’ve talked to two potential Braemar sellers and shown property to a Bristow buyer in search of a townhouse today. Our market seems completely oblivious to passing events like weather and even the pandemic.

In this edition of the Braemar Property Value Report the focus is on resales of houses built by Ryan Homes in our neighborhood. Our reporting period for sales is the first two months of the year. Let’s get right to it.

There was one Ryan home that sold during our current reporting period. The details of that sale are detailed below:

At first glance, I find it odd that a home would sell for anything less than list price during this frenzied seller’s market. Especially a home that was only the market for six days. Nonetheless, it wasn’t that far off of its list price. Taking this sale and combining it with the entire past twelve months of Ryan Home sales, the six and twelve month data points in this report are updated as seen below:

Everything looks completely as I would expect seeing the six month average and six month median sold prices above their respective twelve month values. This means that Ryan Homes in Braemar are continuing to increase in value.

The seller subsidy column is where we see how much closing cost help buyers were able to negotiate from Ryan Homes sellers in Braemar. Not surprisingly, the six month average seller subsidy has decreased significantly from the twelve month average. Meanwhile the six month median is at zero…quite a change from the $4,000 twelve month media seller subsidy. Buyers are having to go with more seller favored terms in their offers to get accepted in multiple offer situations lately.

Days on market shows single digits down the line, five being the highest. No analysis needed. Ryan Homes are selling FAST.

If you placed your Ryan Home in Braemar on the market, priced to current conditions, you could expect it to be under contract in less than a week. You could also expect multiple offers with buyers dropping many typical contingencies and seller subsidy requests in an effort to be chosen.

The next Braemar Property Value Report will be out in May. Until then, when the time comes to sell your Braemar home, find out what my unparalleled market knowledge and top notch marketing can do for you. Sadly, even in a seller’s market there are homeowners leaving money on the table. 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 (Ryan Homes)

Braemar Property Value Report: November-December 2020 (Ryan Homes)

The end of a very long week has arrived. This day alone has felt like three days with the amount of phone calls I am getting on a Gainesville single family home listing that hit the market this morning. Buyer demand is beyond belief. We’ll talk about it in this installment of the Braemar Property Value Report, focusing on sales activity of properties built by Ryan Homes in our neighborhood.

This report looks back to November and December for sales activity. There was no Ryan Home that sold in these months because none where on the market. Had they been, they would have been bowled over by buyers. Despite the lack of activity, however, we have updated six and twelve month data points for the Ryan Homes sales activity in 2020. It looks like this:

Starting with the sold price column, we see both the six month average and six month median values are higher than the twelve month average and median values. This means that in the most recent sales, Ryan Homes were still pushing up in value.

The seller subsidy column is where we find out how much closing cost help buyers were able to negotiate from their Ryan Home sellers. The six month average seller subsidy is well below the twelve month average seller subsidy. Meanwhile, the six month median is at zero from $5,000 at the twelve month median mark. What that zero six month median means is that more than half of Ryan Home sellers in the last six months have given nothing in closing cost help. That’s what I am seeing across the board as more buyers compete in multiple offer situations in Braemar.

Days on market is stable down the line. The six month average marketing time is only one day shorter than the already short twelve month average marketing time. The six month median and twelve month median marketing times are identical.

If you placed your Ryan Home on the market, priced to current conditions, you could expect it to be under contract in less than one week. You could also expect to pay nothing in closing cost help, given the way the market is gobbling up houses.

The next Braemar Property Value Report will be out in March. Until then, when the time comes to sell your Braemar home, call me for a free market analysis. My sellers do better than they expect with my professional marketing and unparalleled neighborhood knowledge. 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: September-October 2020 (Ryan Homes)

Braemar Property Value Report: September-October 2020 (Ryan Homes)

Having closed out September and October, it is time to bring you another Braemar Property Value Report. Today’s report focuses on the houses built by Ryan Homes in our neighborhood.

There were two Ryan homes that sold during the last two months. As you will see by the details of both sales below, there is quite a bit of difference in their sold prices. What is not noted is the square footage of the homes. However, you have probably rightly guessed by now that the Chandler model is a lot larger than the Victoria model.

Taking these two sales and combining them with the entire past twelve months worth of Ryan home sales in Braemar, the six and twelve month data points are updated as seen below:

Everyone loves to start with the sold column, and so do I. Here we find that both the six month average sold price and the six month median sold price are higher than their respective twelve month sold prices. This means that Ryan homes are continuing to gain value in this seller’s market.

Seller subsidy, also known as closing cost cost assistance from seller to buyer, is another column that shows seller favored trends in the more recent sales. Both the six month average seller subsidy and the six month median seller subsidy are lower than their twelve month counterparts. In particular, I am loving the six month median $1,500 seller subsidy. This value means that of the Ryan home sellers in the last six months, more than half of them gave $1,500 or less. That’s another product of the intense buyer demand and scarce inventory we are facing.

Days on market shows us how long it took Ryan homes to go under contract. The six month average marketing time is nearly two weeks faster than the twelve month average marketing time. Better yet, both the six and twelve month median marketing times are in agreement at four days. This means that in both time periods, more than half of Ryan home sellers were under contract in four days or less.

If you placed your Ryan home on the market, priced to current conditions in Braemar, you could expect it to be under contract in less than one week. You could also expect to give very little in seller subsidy.

The next Braemar Property Value Report will be out in January. Until then, I wish you all the best this holiday season. Of course, if the need arises to sell your Braemar home, don’t hesitate to reach out. Our year end market is a very powerful time to sell. You may find waiting until spring to list unnecessary. Get in touch and I’ll be happy to show the benefits of listing in each market and we’ll figure out what works best 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: September-October 2020 (NV Homes)

Braemar Property Value Report: September-October 2020 (NV Homes)

Showing property on a rainy day can be messy. Thank goodness for hooded rain jackets with deep pockets. Helps to not have to carry an umbrella. All part of being prepared when you are Top Real Estate Agent in the area. Another part of being a Top Agent, at least as far as I am concerned, is having a grasp on market data. One of the things that started me doing these Braemar Property Value Reports back in 2005 was a want to know what was happening my neighborhood. Being able to compile these reports and share them with you is something I take pride in.

Today’s Braemar Property Value Report focuses on the NV Homes in our neighborhood. During the months of September and October, there was only one NV Home that sold. The details of that sale are listed below.

Combining that one sale with the entire past twelve month of NV Home sales in Braemar, the six and twelve month data points are updated as reflected below.

Looking first at the sold price column, what indicates rising values are six month values higher than their respective twelve month values. In the case of this NV Home report, those six month values are falling below their twelve month counterparts. Having seen this in the Arista Home report, of equivalently large single family homes are featured, I’m not necessarily surprised by this. Could be a blip. Could be we are seeing the softening of the real estate market start here in the larger single family homes. When we had our slide in 2008, that’s where it started was larger single family home values. Unfortunately, all we can do is wait for the next report to see if this was a blip, or if the same happens next report.

The seller subsidy column is where we learn how much closing cost help sellers gave to their buyers. Her we find exactly what I would expect to find in the strong seller’s market we have been experiencing. The six month average seller subsidy has decreased more than half of what the twelve month average seller subsidy was. And the six and twelve month median values are in agreement at zero. This latter one is more telling because it means more than half the sellers in both time frames gave nothing in closing cost help.

Marketing time is showing conflicting information. The six month average days on market was two days shorter than the twelve month average days on market. That indicates that NV homes were selling faster in the shorter term. Meanwhile, the six month median has doubled compared to the twelve month median. However, the six month average and six month median marketing times are in agreement.

If you placed your NV Home on the market, priced to current conditions, you could expect it be under contract in two weeks. You could also expect to give nothing in seller subsidy.

The next Braemar Property Value Report will be out in January and will detail how we ended 2020. In the meantime, I wish you every happiness this holiday season. And if the need arises to sell your Braemar home, don’t hesitate to call me. Our year end selling season is one of the most powerful times of the year to sell and I would be happy to tell you why. 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