Braemar Reflection Quarterly: October-December 2019 (4th Quarter)

Braemar Reflection Quarterly: October-December 2019 (4th Quarter)

Reflection Series Home

Welcome to another Braemar Reflection Quarterly.  While we are well into 2020, this report looks back to the fourth quarter of 2019 and details sales of the semi-detached single family homes on Tarvie Circle in Braemar.

From the beginning of October to the end of December, there were two Reflection homes that sold in Braemar.  The details of those sales are listed below.

While both homes were Annan floor plans with fully finished, below ground basements, one of these homes had a loft which brought an additional bedroom and full bathroom for an additional $25,000 in final sold price.

Taking both of these sales and combining with every Reflection home sale that happened in 2019, we get an entire year’s worth of data.  Breaking out the six and twelve month data points is how we are able to get a sense of how our market changed over the year.  This is the only way to project what the first quarter of 2020 may have in store.

Looking first at the sold price column, we see the six month average and median sold prices are both above their respective twelve month sold prices.  That means that semi-detached homes in Braemar are continuing to push upward in value.

Next, the seller subsidy column bears some good news.  The six month average and median seller subsidy (also known as closing cost assistance to buyers) is substantially lower than the twelve month average and median seller subsidy values.  While one of the sales from the last quarter of 2019 did have a buyer asking for and receiving $7,275, the other was a sale where no closing cost help was given.  Time will tell if the latter may be occurring more frequently.

Finally, days on market (also known as marketing time) reveals that the six month average marketing time has decreased by four days compared to the twelve month average marketing time.  The six month median marketing time, however, is nearly twice as long as the twelve month median marketing time.  Again, time will tell which is a trend and which was a fluke.

If you placed your semi-detached Braemar home on the market, priced to current conditions, you could expect it to be under contract in about a month. You could also expect to an average of less than 1% of the sales price in closing cost help.

The next Braemar Reflection Quarterly will be out in April.  Until then, enjoy our transition into spring and know that if you want to hit the spring market with your Braemar home, NOW is the time.  Give me a call for a free, in-depth marketing analysis and learn how my professional marketing gets my Braemar sellers top dollar in the shortest amount of time.  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

Braemar Reflection Quarterly: July-September 2019 (3rd Quarter)

Braemar Reflection Quarterly: July-September 2019 (3rd Quarter)

Reflection Series Home

Bringing up the rear in the Braemar Quarterly property value reports is this one for the Reflection Series.  Unfortunately the term “Reflection Series” that was chosen by Brookfield Homes when they named this style of home does nothing to conjure the image of the homes themselves.  They are the semi-detached single family homes on Tarvie Circle, attached by the rear load garage in sets of two.

There were no Reflection homes that sold during the third quarter of 2019.  However, in dropping the 2018 third quarter sales from the rolling pool of Reflection sales I keep saved in the MLS, I do get a chance to update the six and twelve month value points.  That still gives us an idea in the shorter term how things have been going.

Starting with sold price, it is a good thing to see both the six month average and six month median sold prices above their twelve month counterparts.  This means that in the most recent sales, Reflection home values were still pushing up.

Seller subsidy (a.k.a. closing cost assistance from sellers to buyers) shows a good trend, and frankly, one that is inconsistent with what I have noticed in the majority of Braemar Property Value Reports.  The six month seller subsidy values are below the twelve month seller subsidy values.  Given that this is inconsistent with rising seller subsidy elsewhere in our neighborhood, and with no recent sales to add any insight to this, I would not get my hopes up that seller subsidy is falling.

Days on market shows another good trend,  but this one happens to be consistent with what I have seen in another Braemar Property Value Reports I have prepared.  The six month marketing times are shorter than the twelve month marketing times.  This means Reflection homes have been selling faster.

If you placed your Braemar Reflection home on the market, priced to current conditions, you could expect to have it under contract in under two weeks.  You could also expect to pay out about 1.5% of the sales price in closing cost assistance to your buyer.

The next Braemar Reflection Quarterly will be out in January.   Until then, I wish you every happiness as you celebrate the year end holidays.  As always, when the time comes to sell your Braemar home, give me a call for the most accurate assessment of your home’s value and top notch professional marketing to get the most the market will allow at any given time.  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