Braemar Property Value Report: March-April 2023 (Ryan Homes)

Braemar Property Value Report: March-April 2023 (Ryan Homes)

It is time for another Braemar Property Value Report, focusing on the sale of houses built by Ryan Homes in our neighborhood. This particular edition looks back at the resales from March and April. Let’s get right to it.

During our current reporting period, there were two Ryan homes that sold in Braemar. Having one sale with the severe inventory shortage we have been facing would have been cause for celebration. Having two sales feels like a miracle. The details of those sales are listed below.

What I love seeing is that both sales sold above ltheir list prices, gave no seller subsidy (closing cost help to buyer) and were under contract in only five days each. In our last report, the only sale of a Ryan home in the neighborhood took thirty-seven days to sell and sold below list price. That home backed to the power transmission lines on Ballagan Court. A location like that is always impacted by the factor of backing to power lines, no matter what type of market we are in.

Taking these two most recent Ryan home sales and combining them with all the Ryan home sales in Braemar dating back to May 2022, the six and twelve month data points followed in this report are updated as seen below.

You don’t know this yet, but based on every other report I have done in the March and April 2023 reporting time frame, this report is showing some good signs. For starters, both six month sold prices are above their respective twelve month values. Some reports are still showing twelve month sold prices above six month sold prices in their median and average subsets, which indicates softening values. While this was the case with Ryan homes last report, it is not the case now. Ryan home values are healthy!

Seller subsidy shows the identical amount in the twelve month average as we saw last report. The six month average has decreased since last report. Better news still is that both the six and twelve month median seller subsidy values remain at zero. That means more than half of Ryan home sellers in Braemar gave none in both time frames. The fact that seller subsidy has yet to creep into the six month median value in this Ryan home report is impressive. Another mark of good overall health for Ryan homes.

Days on market has most noticeably improved in the six month median value compared to what we saw last report. That’s due in no small part to the two sales that happened this reporting period. Otherwise, marketing times in the other data points have remained virtually the same.

If you placed your Ryan home on the market, priced to current conditions, you could expect to be under contract in a matter of a week or two. You could also minimize any closing cost requests, and increase the odds of getting multiple offers, by making sure your home is properly priced, well prepared inside and out and that is is professionally marketed. These are the things I counsel all of my Braemar sellers about. You don’t get a second chance to make a first impression. Making sure your first impression creates buyer enthusiasm is a must.

The next Braemar Property Value Report will be out in July. Between now and then I do hope you get to enjoy some quality fun in the sun time. Summer vacation is something we aspire to all year. Naturally, if the need to sell your home arises, or you just want to get a jump on preparing your home for a future sale, get in touch for your no obligation consultation. It is my pleasure to get my Braemar seller clients the top of the 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

*The image of the house above is Copyrighted by HomeVisit and used with their permission.

Braemar Property Value Report: November-December 2018 (NV Homes)

Braemar Property Value Report: November-December 2018 (NV Homes)

The forecast is not looking good for tomorrow afternoon.  Warnings are coming through loud and clear in the weather reports I’m hearing on the radio.  I’ll trust the meteorological pros and stay off the roads in the late afternoon and evening.  My area of expertise is Braemar real estate.  Speaking of Braemar real estate, it is time for another Braemar Property Value Report, focusing on sales of houses built by NV Homes in our neighborhood.  This reporting period covers November and December 2018.

During the last two months of last year, there was only one NV home that sold.  It was a Wynterhall model that sold price $615,000.  The details of that sale are as follows:

Taking that sale and combining it with all the NV home sale data from 2018, we get updated six and twelve month data points. Let’s see what those new values are telling us.

Even with the high sold price in our current report, the six month average and median sold prices are both below the twelve month average and median sold prices.  That indicates that NV home values are beginning to dip.  Not surprising because the larger homes in our neighborhood built by Brookfield Homes are also showing a dip in value.

When it comes to seller subsidy (closing cost assistance for buyers) is also showing a trend not favorable to NV home sellers.  Both the six month average and median seller subsidy values are higher than their twelve month counterparts.  Sellers are giving more in closing cost help.  Even the most recent sale gave seller subsidy higher than the most recent average and median values.  

Days on market, or marketing time as I like to call it, shows yet another unfavorable seller trend.  The six month markers shows it takes longer to go under contract than the twelve month markers.  However, this may not necessarily be true.  In mid-November, our region switched to a new MLS system which counts days on market differently.  It will be this time next year before we have a true apples to apples comparison on marketing time.

If you placed your NV home on the market, priced to current conditions, you could expect it to be under contract in less than two months.  You could also expect to pay less than 1% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in late March.  If you would like to sign up for email delivery of the full, letter size report, email me at ChrisAnn@LNF.com.  Of course, when the time comes when a sale may be on your horizon, 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®

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

 

Braemar Property Value Report: July-August 2018 (NV Homes)

Braemar Property Value Report: July-August 2018 (NV Homes)

Did you know that as of today, there are twenty-one homes on the market in Braemar? They aren’t all single family homes, like the NV Homes in our neighborhood.  In fact, single family homes priced over $450,000 in Braemar make up ten of those listings.  And it is taking a while to get them under contract.  A quick look at those ten single family home listings in Braeamr over $450,000 tells me that they are averaging thirty-four days on the market….and they haven’t even been chosen yet!    One of the many reasons it is important to hire a Top Braemar Listing Agent.

Right now, this Top Braemar Listing Agent is going to update you as to what’s happened with NV Home resales in our neighborhood between July and August in this edition of the Braemar Property Value Report.  I have made it part of my job to stay on top of our local market.  I don’t know of any other real estate agent that serves Braemar that delves this deep into what’s happening in our neighborhood.

There was only one NV Home in Braemar that sold in during our current reporting period.  It was a Rutherford that sold for $485,000, having been listed for $500,000.  Details of that sale are below:

Not much can be determined by NV Home values by one sale.  That’s why this sale is added to my rolling twelve month store of NV Home sales in Braemar, and six and twelve month values pulled out.  When I do that, here’s what we find:

The trend you want to see in the sold price numbers is higher values in the six month average and median compared to their twelve month counterparts.  That is definitely what we find with NV Home values in the six month values compared to the twelve month values.  That means NV Homes are still pushing up in value.

When it comes to the seller subsidy (closing cost assistance) category, we want to see the opposite.  The best trend for sellers here is to have lower figures in the six month values when compared to the twelve month.  Once again, Braemar NV Home sellers in the last six months have been given less closing cost assistance to their buyers.  Gotta love that.

Days on market, or marketing time, is another category where we like to see more recent numbers trending down, compared to the whole year.  While the six month median value is two days longer than the twelve month median, the six month average value is thirty-one days shorter than the twelve month average.  That big a decrease in average marketing time is a great thing to see.  The two day increase in median value?  Not to worry.

If you placed your Braemar NV Home on the market, priced to current conditions, this report indicates  you could expect it to be under contract in two weeks.   However, at the start of this report, you heard the average days on the market for larger single family homes was thirty-four days for home still lingering on the market.  Who you hire to market your home matters and can affect marketing time and your final sold price.  As for what you could expect to pay in closing cost help, that would be an average of less than 1% of the sales price.

The next Braemar Property Value Report will be out in November.  Until then, when you are ready to sell your Braemar home, hire wisely.  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 Property Value Report: May-June 2013 (Arista Series)

Braemar Property Value Report:  May-June 2013 (Arista Series)

July in Braemar is usually plenty hot and humid.  And July hasn’t disappointed. It has been wicked hot and so humid you feel like you’ve walked into a sauna when you live an air conditioned home to step outside.  At least for now, we seem to be getting a respite from hot and humid.   It feels like spring outside as I write this.

The Braemar real estate market continues to be hot.  This Braemar Property Value Report is focused on the Arista Series, or large single family built by Brookfield Homes which include the Allister, Buckingham and Canterbury. you feel like you’ve walked into a sauna when you live an air-conditioned home to step outside.  At least for now, we seem to be getting a respite from hot and humid.   It feels like spring outside as I write this.

There were no sales of Braemar Arista Series homes in May and June.  However, there were some sales of comparable homes built by Ryan and NV that sold in the neighborhood.  While not an apple to apples comparison to the Arista Series homes by Brookfield, it will give an idea of value until next report when we’ll have actual Arista sales to report.  The highest sold price of a comparable home was $525,000.  The lowest was $430,000.  The average of all seven sales was $472,187…really not far off last report’s Arista average of $475,000.  Still, if we took this number as a fill-in average, it would mark a slight decrease from report to report and over an 8.5% decrease since last year.  I don’t think we’ll see that as the case when we do see Arista homes hit the sold column next report.

If you used these NV and Ryan comps to predict seller subsidy and days on market, you could expect your home to be under contract in 8 days and for a buyer to ask for an average of just under 1% of the sales price in closing cost help.

The next Braemar Property Value Report will be out in September and will detail sales from July and August.  Until then, if you are thinking of selling your Braemar home, call me for a free market analysis of your specific home’s value.  I’ve been a Braemar resident and full-time Bristow Real Estate Agent since 2005.  I’ve also been a Short Sale Agent since 2007.  I know our local market and how your home fits into it.  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, www.NVARealEstate.net

 

Statistics compiled by Chris Ann Cleland, using the MRIS (Metropolitan Regional Information Systems.)

 

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You can see the most recent property values in Braemar by clicking the links below:

Carriage Series (smaller single family homes with detached garages, Brookfield Homes)

Courtyard Series (executive style home, five to a private driveway, Brookfield Homes)

Heritage Series (mid-sized single family homes, Brookfield Homes)

Townhouse Report (traditional townhouses with small back yards)

Condo Quarterly (townhouse style condos)