Braemar Property Value Report: July-August 2019 (Courtyard Series)
Summer is behind us, which means we can take a look back at the Braemar Courtyard home sales for the months of July and August in this edition of the Braemar Property Value Report. Before we get to it, if you don’t know what defines a Braemar Courtyard home, they are one of three different floor plans that share a private courtyard driveway and have limited outdoor space. Models include the Arlington, Ballston and Clarendon.
There were five Braemar Courtyard home sales in the last two months, ranging from $427,000 to $440,000 in final sold price. The details of those sales are as follows:
Taking these most recent sales and combining them with the entire last twelve months worth of Braemar Courtyard home sales, we get updated six and twelve month data points, which are the indicators that tell us what is happening in the marketplace. Here are the updated values:
Looking first at the sold price column, it is good to see the six month average sold price is higher than the twelve month average. The six month median sold price is nearly the same as the twelve month median sold price, but still a tad higher. Braemar Courtyard home prices are continuing to push up in value.
The seller subsidy column (closing cost assistance to buyers) is not changing much when comparing the six month values to their respective twelve month values. And the changes do seem to indicate that buyers are requesting, and getting, ever so slightly more in closing cost help in the more recent past.
Finally we come to days on market, or as I like to call it–marketing time. The six month median and twelve month median are exactly the same. The better news is that the six month average marketing time is shorter than the the twelve month average marketing time. This means Braemar Courtyard homes have been selling faster.
If you placed your Braemar Courytard home on the market, priced to current conditions, you could expect to be under contract and well on you way to settlement in no more than two and a half weeks. You could also expect to pay a little more than 1.5% of the sales price in seller subsidy.
The next Braemar Property Value Report will be out in November. Until then, if you are thinking of selling next spring, why not give me a call and learn the benefits of our fall market. There are plenty of reasons I call fall, our second spring market and I am happy to tell you all about them. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate