Braemar Property Value Report: November-December 2020 (Courtyard Series)

Braemar Property Value Report: November-December 2020 (Courtyard Series)

Before leisure time begins for this Braemar Real Estate Agent today, I thought I would bring you another Braemar Property Value Report. This particular report focuses on the last two months sales of Braemar Courtyard homes. Braemar Courtyard homes are the single family homes located on Orland Stone, Pentland Hills and Playfair.  Five homes share a courtyard driveway and have a strip of yard separating them from each other.  I often refer to them as city homes or executive style homes, as they require the most minimal lawn maintenance and have very contemporary floor plans named the Arlington, Ballston and Clarendon.  What they lack in lawn, they more than make up for in generous bedrooms sizes.

During the months of November and December, there was only one Braemar Courtyard home that sold. Details of that sale are listed below:

It is often the case that there is only one sale, or no Braemar Courtyard home sale at all when this report is compiled every two months. That is why the current reporting period sale(s) are combined with the entire last twelve months of Courtyard home sales and six and twelve month data points extracted. Gives us a steadier look at trends. Doing that this report, here’s what we have:

The six month average sold price dropped slightly compared to its respective twelve month sold price. However, both the six month median and twelve month median remain the same at $495,000. Seems Braemar Courtyard homes are holding steady in value. Then again, a glance at the most recent sale indicates the values are likely going to be seen to be lifting in future reports.

When it comes to seller subsidy, we get to see how much closing cost help buyers negotiated with their Braemar Courtyard home sellers. The six month average is less than the twelve month average, meaning buyers were able to negotiate less in the more recent sales. What the six and twelve month median values tell us, both being at zero, is that more than half of Braemar Courtyard home sellers gave no closing cost help at all. That is something we are seeing a lot as buyers are having to forego closing cost help requests in multiple offer situations just to be competitive.

Days on market, down the entire column, shows single digit days. The six month average was two days faster than the twelve month average. The six month median was one day faster than the twelve month median. Braemar Courtyard homes are getting immediate attention from buyers struggling in this market with so little inventory to choose from.

If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in less than a week. You could also expect to give absolutely no seller subsidy.

The next Braemar Property Value Report will be out in March and show what the first two months of 2021 have meant to our Braemar home values. Until then, when the time comes for you to sell, I would love the opportunity to show you how my neighborhood expertise and professional marketing can put even more money in your pocket. You only get one shot at netting the most money. Who you hire matters. 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 (Carriage Series)

Braemar Property Value Report: November-December 2020 (Carriage Series)

What does a Top Braemar Real Estate Agent do in her spare time? Braemar Property Value Reports of course! There is no such as work when you love what you do for a living. I imagine when I worked at a radio network, in a cubicle down in Arlington, nine to five , I would have hated doing anything resembling a market report. Not now. Today, I bring you the Carriage Series edition of the Braemar Property Value Report, detailing sales from the last two months of 2020. In case you are not familiar with them, Braemar Carriage homes are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

There were three Braemar Carriage homes that sold in November and December. The details of those sales are listed below:

Taking these sales and combining them with all of the Carriage home sales in Braemar for 2020, we get updated six and twelve month value points, pictured below:

Starting with the sold price column, we see both the six month average and six month median sold prices are higher than their respective twelve month values. This means that Braemar Carriage homes have been increasing in value in the shorter term. Not surprising given the intense buyer demand and lack of inventory.

Moving to the seller subsidy column, we see what buyers were able to negotiate in closing cost help from their sellers. The six month average seller subsidy is only $55, compared to the $1,874 twelve month average seller subsidy. That’s quite a reduction. Of course, both the six month and twelve month media seller subsidy values are at zero. That means more than half the Braemar Carriage home sellers gave no closing cost help. Obviously, looking at the three most recent sales where no sellers gave any seller subsidy, buyers are having to forego closing cost help requests to get under contract in multiple offer scenarios.

Days on market, down the entire column, shows very low marketing times that have shrunk in the six month values compared to their respective twelve month values. Braemar Carriage are getting immediate attention from buyers. Of course, in the most recent sales, we see a home sale that took over two weeks. Price for size and condition may have been a factor there.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect to be under contract in less than one week. You could also expect to give no seller subsidy.

The next Braemar Property Value Report will be out in March. Until then, when the time comes for you to sell your Braemar Carriage home, get in touch with me and find out how my neighborhood expertise and professional marketing will get you even more money from your home sale. 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 (Arista Series)

Braemar Property Value Report: November-December 2020 (Arista Series)

The year 2020 has closed out and so begins the New Year with installments of the Braemar Property Value Report looking back on sales activity in our neighborhood in the last two months of the year. Today’s report focuses on sales in the Arista Series which are the largest of the single family homes built by Brookfield Homes in our neighborhood. Their floor plans are the Allister, Buckingham and Canterbury.

Sadly, there were no sales of Arista homes in Braemar in the last two months of the 2020. There was hardly anything for sale as the year drew to a close. That didn’t mean buyers weren’t out looking for homes. There was one single family home in Bristow in December that received 51 offers! Can you even imagine? That’s why I keep telling you buyer demand is intense. We need more single family homes in Bristow to sell, Braemar in particular. It’s always been a sought after neighborhood in the area.

Despite not having one sale in the current reporting period, we can look back to the entire year’s worth of sales in 2020 and see our updated six and twelve month value points. These are derived from the nine Arista homes sold last year.

Starting with the sold price column, we find both the six month average and six month median sold prices higher than their respective twelve month sold prices. This is exactly what I would expect to see in our current market, the more recent sales are higher. With limited inventory and such intense buyer demand, Braemar home sellers are getting multiple offers and seeing their values peak.

Seller subsidy is the column where we get to see how much closing cost help buyers negotiated from their sellers. The first trend is not what I would expect. The six month average seller subsidy was higher than the twelve month average seller subsidy. Hmm. It only takes one or two of those nine sales to throw off an average. The six month median seller subsidy being at zero tells us that more than half the Braemar Arista home sellers gave nothing in closing cost help in the last six months. Looking at the twelve month median seller subsidy and seeing $1,000, we know that during the course of the entire year, more than half of Braemar Arista home sellers gave $1,000 or less in closing cost help. Given the market, I think the media values here are far more relevant.

Finally, the days on market column definitely shows us what a seller’s market does for marketing time. The six month average and median days on market are identical at three days. Both of those are lower than their respective twelve month days on market. Braemar Arista homes are getting gobbled up by the buyers as soon as they hit the market.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contract in a handful of days. You could also expect to give very minimal seller subsidy, if any at all.

The next Braemar Property Value Report will be out in March. Until then, when the time comes to sell your Braemar home, I would love to consult with you about what my professional marketing and expertise in the market place can mean to increasing your bottom line. Since 2005, No One Knows Braemar Better!

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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: October-December 2020 (4th Quarter)

Braemar Reflection Quarterly: October-December 2020 (4th Quarter)

Reflection Series Home

Wrapping up the Braemar market reports for this weekend, I bring you the Braemar Reflection Quarterly. This report focuses on the sales of the semi-detached homes located on Tarvie Circle that are attached to one other home only at the rear load garage. This particular edition covers the activity from the fourth quarter of 2020.

Thankfully, there were two sales of Braemar Reflection homes in the last three months of the year. There were two quarters of absolutely no Reflection home sales in 2020. The details of the fourth quarter sales are listed below:

The first thing you may notice is that the first home, with one more bedroom and bathroom on the loft level, sold for a little less than a home without a loft bedroom/bathroom. It is important to note that one, located at 9560 Tarvie, was a bank owned property. It was not in great condition.

Taking these fourth quarter sales and adding them in with the only other Reflection home sale that happened during 2020, we have a total of three Reflection home sales from which to pull our updated six and twelve month data points. They are listed below:

Starting with the sold column we see that the six month average sold price is well above the twelve month average sold price. However, the six month median sold price is a little over $200 above the twelve month average. At worst, this means semi-detached homes in Braemar are holding steady in value. At best, it means they are gaining value. Only more sales in 2021 will tell us which is correct, but I would place my money on values going up giving the low inventory and intense buyer demand that our marketplace is experiencing right now.

In the seller subsidy column we get to see how much closing cost help buyers negotiated from sellers. With the bank sale above giving an enormous amount of closing cost and only parsing these numbers from three Reflection home sales for 2020, these numbers are higher than what I am finding in other Braemar market reports. While the six month average seller subsidy here is higher than the twelve month average, it is probably more fair to look at median seller subsidy in the twelve month time range. This tells us that two of three of the Braemar Reflection home sellers (traditional home owners, not banks) gave absolutely nothing in closing cost help. Because of the nature of the home sale that gave that enormous seller subsidy being a bank sale, it is not going to be a comparable sale for any traditional equity sale where a home owner sells their property. I only hope that bank owned properties don’t start popping up more frequenting in the market.

When it comes to the days on market (DOM) column we see both the six month average and median values are longer than their respective twelve month values. Clearly, the marketing time of nineteen days taken by the banked owned sale is skewing these figures, Looking to the twelve month median days on market, we see that two of three semi-detached Braemar home sellers had their homes under contract in five days or less last year.

If you placed your Braemar Reflection home on the market, priced to current conditions, you could expect it to be under contract a week or less. You could also expect, if higher buyer demand and limited inventory continue in 2021 (which is exactly what we are finding right now) to pay nothing in seller subsidy as buyers compete to win your home.

The next Braemar Property Value Report will be out in April. That’s when we will know what kind of a start our Braemar Reflection home market got off to in 2021. Until then, if you want to investigate the sale of your home while our Braemar home values are peaking this year, get in touch with me. Since 2005, No One Knows Braemar Better!

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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 Piggyback Quarterly: October-December 2020 (4th Quarter)

Braemar Piggyback Quarterly: October-December 2020 (4th Quarter)

As this Saturday work day draws to a close for this Braemar Real Estate Agent, I am bringing you another property value update. This installment is the Braemar Piggyback Quarterly and focuses on the fourth quarter sales of the two car garage townhouses in our neighborhood that are attached back to back and side to side. For the record, these are the only two car garage townhouses in our Braemar neighborhood, so if you have a two car garage townhouse, this report is for you.

During the last three months of 2020 there were two Braemar Piggyback townhouses that sold. The details of those sales are listed below:

Taking these sales from the fourth quarter and combining them with the entire year’s worth of Braemar Piggyback townhouse sales from 2020, our six and twelve month data points are updated as follows:

To start, the sold price column shows a very small increase in average value from the twelve month sold price to the six month sold price. On the other hand, an even smaller decrease is seen going from the twelve month median sold price to the six month median sold price. Had it not been for the most recent Braemar Piggyback townhouse sale of $370,000, I would be the first to say this is what market value stability looks like. However, it seems that we’re likely to see these two car garage townhouses in Braemar continue to push up in value as we move into 2021.

The seller subsidy column reveals a great trend for Braemar Piggyback townhouse sellers. The six month average seller subsidy (closing cost help to buyers) is at zero, down from over $3,400 average seller subsidy in the twelve month average. That means the latter half of the year, as buyers were competing for the limited inventory available, fewer asked for closing cost help. The fact that the six month median and twelve month median seller subsidy numbers are the same at zero tells us that in both of these time periods, more than half of the Braemar Piggyback townhouse sellers gave nothing in closing cost help. Even our most recent sales from the fourth quarter have zero seller subsidy.

Finally, we come to the days on market column. The already very reasonable eleven days on market found in the twelve month average shrunk to six days in the six month average. Meanwhile, the difference in the twelve month median vs. the six month median was only one day less of marketing time in the recent sales. Our market is gobbling up properties very quickly as there is hardly anything on the market.

If you placed your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it to be under contract in less than one week. You could also expect that would not have to give any seller subsidy at all.

The next Braemar Piggyback Quarterly will be out in April. Until then, know that Braemar homes are peaking in value this year. The year 2021 has been predicted to be one more year of low inventory and high buyer demand. We won’t know when we’ve hit the market peak until values start their decline, so if you’ve been waiting to get top dollar for your Braemar home, get in with me and let’s take a look at what the market conditions mean in a potential sale for you. Since 2005, No One Knows Braemar Better!

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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 Patio Quarterly: October-December 2020 (4th Quarter)

Braemar Patio Quarterly: October-December 2020 (4th Quarter

Thank goodness the sun is shining today. Too many overcast, gloomy days and my energy is zonked. Instead, I’m alert and productive at my computer doing yet another Braemar real estate market report. Today’s installment is the Braemar Patio Quarterly, detailing the fourth quarter sales of the two level, quad style attached homes in our neighboood.

There were four Braemar Patio homes that sold in the fourth quarter. The details of those sales are listed below:

It’s nice to have a combination of main level bedroom models and ones that are all upper level bedrooms in this list. Immediately the first thing you notice is that the sold prices march up as you go down the column. You also notice not one sale gave seller subsidy (closing cost help to buyer) and single digit days on market. Of course, adding these fourth quarter sales in with the previous three quarters worth of Braemar Patio home sales for 2020, we have an entire year’s worth of data that gives us the best indicator as to what has been happening in the market.

Starting with the sold price column, we see healthy increases in both six month values compared to their respective twelve month values. This means that Braemar Patio homes are continuing to increase in value. No surprise given the intense buyer demand and limited inventory our market has been facing.

When it comes to seller subsidy, the six month average value has decreased by more than half compared to the twelve month value. More imporantly, both the six month and twelve median values are at zero. In both time frames, that means that more than half the Braemar Patio home sellers gave no seller subsidy. Another result of buyers having to compete for limited inventory.

Finally, days on market reveals a major decrease in marketing time from the twelve month average to the six month average. The six and twelve month median values are both in single digits, letting us know that more than half the sales in each time period happened quickly.

If you placed your Braemar Patio home on the market, priced to current conditions, you could expect it would be under contract in less than a week, and likely, with multiple offers. You could also expect to get away with not having to give any seller subsidy.

The next Braemar Patio Quarterly will be out in April. Until then, when the time comes for you to sell your Braemar home, get in touch with me for the most comprehensive and accurate market analysis. Since 2005, No One Knows Braemar Better!

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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 Condo Quarterly: October-December 2020 (4th Quarter)

Braemar Condo Quarterly: October-December 2020 (4th Quarter)

Happy New Year! The much anticipated 2021 is here and there is hope that things will soon get back to some sort of normal. For now, however, nothing has changed except the date. Same for the Braemar real estate market. We are still experiencing extremely low inventory and high buyer demand. Let’s take a look at how that has affected Braemar Condo values in this edition of the Braemar Condo Quarterly, which focuses on the fourth quarter activity of 2020.

To start, there were only two Braemar Condos that sold during the fourth quarter. Our already low inventory dwindled to nothing as the end of the year approached. The details of the two Braemar Condo sales from the fourth quarter are listed below.

Taking these two sales and combining them the entire year’s worth of Braemar Condo sales, our updated six and twelve month data points give us an idea as to how the real estate market has been faring.

The sold price column shows us that the six month average sold price is almost exactly $2,000 than the twelve month average sold price. Meanwhile, the six month median and twelve month median sold prices are the same. There is still growth in Braemar Condo values and likely will be for the foreseeable future.

Seller subsidy is the column where we learn how much closing cost help buyers negotiated in their contracts with sellers. It is a bit surprising, given the intense competition buyers are facing, that the six month average seller subsidy is higher than the twelve month average, as well as the six month median being higher than the twelve month median. However, looking at the two most recent Braemar Condo sales, only one of them gave any seller subsidy and the one that did give it gave a very low amount at $1,000. Likely something negotiated in lieu of home inspection repairs from my experience.

Days on market also has an increase, though very slight, in both the six month values compared to their respective twelve month values. Some of this may have to do with the thirty-one day marketing time of one of the more recent sales. That long of a time frame is unusual.

If you placed your Braemar Condo on the market, priced to current conditions, you could expect it to be under contract in about a week. You could also expect to give less than 1% of the sales price in seller subsidy, if any at all.

The next Braemar Condo Quarterly will be out in April. Until then, if you find yourself ready to place your Braemar Condo on the market, get in touch with me for the most accurate assessment of your condo’s value in today’s market. Since 2005, No One Knows Braemar Better!

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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

There are NO Homes For Sale in Braemar

There are NO Homes For Sale in Braemar

Just about every day I log into the MLS and run my “hot search” for Braemar. (A hot search is a preset search.) The inventory has been gobbled up as quickly as it hits the market, but generally, each time I Iook, there are at least some coming soon listings or a handful of actives.

Today, there were no homes, townhouses or condos for sale in Braemar!

Yeah, I know. It’s the holiday season and a lot of sellers are passing on listing until the New Year. Buyers, however, aren’t taking the time off. And with literally NO COMPETITION, sellers could clean up right now.

I know December isn’t what most sellers would consider a great time to sell, but seriously, there are buyers out right now and there is nothing for sale in the neighborhood. Add in the strong emotions that come with this season and buyers are ready to fall in love with HOME. They won’t be falling in love with your home this holiday season if it isn’t listed.

Want to investigate a holiday home sale vs. waiting until the New Year? I would be happy to consult with you. Since 2005, No One Knows Braemar Better!

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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 Townhouse Report: September-October 2020

Braemar Townhouse Report: September-October 2020

Bringing up the rear of November’s Braemar markert reports is this edition of the Braemar Townhouse Report. In this report the focus is on the sale of traditional three level townhouses in Braemar with a back yard, and attached side to side only.

In the months of September and October (2020) there were eight Braemar townhoues that sold. Final sold prices ranged from $315,000 to $395,000. The details of those eight sales are listed below:

Taking all eight of these sales and combining them with the entire past twelve months of Braemar townhouse sales, the six and twelve month data points are updated as seen below:

Starting with the sold price column, we find that both the six month average and six month median sold prices are higher than their respective twelve month values. This means that Braemar townhouses are still gaining value. No surprise in the current market where inventory is scare and buyer demand is intense.

In the seller subsidy column we get to learn the amount of closing cost help that sellers gave to their buyers. The six month average seller subsidy is less than the twelve month average seller subsidy. This is good. What is better is that the six month median and twelve month median seller subsidy values are in agreement at zero. This means that more than half the sellers in these time period gave absolutely no closing cost help. And if you look at the sales from September and October above, more than half of those sellers gave nothing.

The days on market columns shows the six month average and twelve month average marketing times aligned at seven days. Meanwhile the six month median marketing time was one day longer the twelve month median marketing time. It is not taking long for Braemar townhouses to get under contract.

If you placed your Braemar townhouse on the market, priced to current conditions, you could expect it to be under contract in a week or less. You could also expect that you would not have to give any seller subsidy.

The next Braemar Townhouse Report will be out in January. Until then, I wish you all the best this holiday season. And if the need arises for you to sell your townhouse between now and then, don’t hesitate to get in touch. Our year end Braemar real estate market is a powerful one…one without a lot of competition and with the most serious buyers. I would be happy to show you what a year end sale could mean 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 (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