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 Series Quarterly: January-March 2016

Braemar Reflection Series Quarterly:  January-March 2016

The beginning of the year was filled with all kinds of real estate sales activity in Braemar.  The spring selling season seemed to hit even before our last snow melted.  This particular report will look back at the first quarter of sales for the Reflection Series homes.  For those unaware, Reflection Series homes are located off of Tarvie Circle and are the semi-detached single family homes that are attached at the garage Reflection Series home in Braemaronly.  There were two floor plans offered byBrookfield Homes:  Annan and Bromley.

Unlike the end of 2015 that saw only one sale, the beginning of 2016 saw two Reflection Series home sales in Braemar.  The high sales price was $425,000 and the low was $420,000.  The average of $422,500 is our new average market value for Reflection Series homes.  This marks an 11% increase in value since last year.  And because there were no sales this time last year, we have no comparison to last report.

Braemar Reflection Series Quarterly:  January-March 2016If you placed your Braemar Reflection Series home on the market, priced to current conditions, you could expect it to be under contract in an average of just under one month.  You could expect to pay a little toward the buyer’s closing costs.

The next Braemar Reflection Series Quarterly will be in July and will focus on activity Chris Ann Cleland, Braemar Real Estate Agent, 703-402-0037during the second quarter of the 2016.  Until then, when you are ready to sell your Braemar home, give me all call for a free market analysis.  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.comwww.UncompromisingValues.com

 

Statistics compiled using MRIS (Metropolitan Regional Information Systems)