Braemar Piggyback Quarterly: January-March 2018 (1st Quarter)
It is time for another Braemar Piggyback Quarterly market report. In this report, we’ll look back at what happened in the first quarter of 2018 with regard to Braemar Piggyback townhouses. We’ll also see how values are doing in the last six months and the last year.
If you aren’t familiar with what exactly a Braemar Piggyback townhouse is, allow me to explain. These townhouses are not only attached on the sides, but along the back too. They have no back yards, like traditional townhouses, but also have larger bedrooms than a traditional townhouse. They also have two car garages.
Unfortunately, there were no Piggyback townhouses in Braemar that sold in the first three months of the year. However, that doesn’t mean we don’t updated data points to investigate. When we drop the first quarter of 2017 from our collection of Braemar Piggyback sales, our six and twelve month average and median values freshen up to look like this:
Generally, I don’t like seeing six month average and median values falling below the twelve month average and median values. It is an indication that values could be falling. However, since there weren’t any new sales to throw into this mix from the first quarter of 2018, we’ll have to wait and see what the second quarter brings us. After all, the majority of Braemar real estate is on the rise, given the lack of inventory and continued, strong buyer demand.
If you did place your Braemar Piggyback townhouse on the market, priced to current conditions, you could expect it to be under contract in about three weeks time. You could also expect to pay $4,000 to $5,000 in seller subsidy (closing cost assistance.)
The next Braemar Piggyback Quarterly will be out in July and will cover activity from the second quarter. Until then, if you want to get a more specific idea of your Braemar home’s value, give me a call. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®