Braemar Property Value Report: July-August 2021 (Carraige Series)

Braemar Property Value Report: July-August 2021 (Carraige Series)

Even though it is technically still summer until September 21st, after school starts and we begin the month of September, it feels like the unofficial beginning of fall. July and August sure went by in a flash, and with them more Braemar Carriage home sales to report in this edition of the Braemar Property Value Report. Since this report focuses solely on Braemar Carriage home activity, it is important to know what defines a Carriage home in our neighborhood. They 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, accessed by a private driveway off of the street, or off of a shared alley in the back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

During the current reporting period, there were three Braemar Carriage homes that sold. The final sold prices ranged from $531,000 to $615,000. Details of those three sales are listed below:

Sold prices keep marching up. For specifics on how the market is doing, let’s take a look at our updated six and twelve month data points.

Starting with the sold price column we see big increases from both the twelve month average and median to their respective six month average and median values. The jumps were 7% and 10% in value. Last report, we saw values jumps of 6% and 8%. Braemar Carriage homes, despite what was overall a slowing in the market during the summer months, have appreciated at an even better rate than previous reporting. As I recall, Braemar Carriage homes were the least impacted by lack of sales in our real estate crash over a decade ago. These homes will be the last to show any slowing of the market.

Seller subsidy is where we see how much closing cost assistance buyers were able to negotiate from their Braemar Carriage home sellers. The six and twelve month average seller subsidy numbers indicate that across the board, very few buyers even ask for closing cost help. The six and twelve month median values at zero show us that more than half of buyers in both time frames needed no closing cost assistance.

Marketing time is still super fast. We see single digits down the line with the only change being a one day decrease from the twelve month average marketing time of five days to the six month average marketing time of four days. Carriage homes are always one of the hottest selling homes in Braemar. That also makes them one of the smartest investor purchases in our neighborhood.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in a week or so. You could also expect to give no seller subsidy as buyers continue to compete to get under contract.

Just because we are entering the year end market does not mean that the real estate market will slow. In fact, it is typical for activity to pick up about this time as folks are done with vacations. More importantly, the Federal government’s new fiscal year starts October 1st, filled raises and new job opportunities for employees and contractors.

The next Braemar Property Value Report will be out in November. Until then, get in touch with me to find out what a sale in the near future would mean for you both financially and logistically. 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: May-June 2021 (Carriage Series)

Braemar Property Value Report: May-June 2021 (Carriage Series)

Monday is my favorite day of the week. It is a day to start fresh and get working. Certainly, when you love what you do, a new work day is never a bad thing. And as a Top Braemar Real Estate Agent, I can tell you that I indeed love what I do. As proof of that, I bring you this latest edition of the Braemar Property Value Report for the Carriage homes in our neighborhood. 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, accessed by a private driveway off of the street, or off of a shared alley in the back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

There were six Braemar Carriage homes that sold in the months of May and June. The details of those sales are listed below:

First amazing thing about these six sales are their sold prices. Two of the six are $600,000 or more. And the biggest jaw dropper is the second smallest of the Carriage Series, a Norwood model on Tombreck selling for $581,600. That is a lot of money for a three bedroom Carriage home to pull.

Taking all six of these sales and combining them with the entire past twelve months of Braemar Carriage home sales, the six and twelve month data points are updated and reveal the fruits of the seller’s market.

Starting with the sold price column, both the six month average and six month median sold prices are substantially higher than their respective twelve month sold prices. This means Braemar Carriage homes are gaining a lot of value as a result of the frenzied buyer demand.

The seller subsidy column is where we find out how much closing cost help buyers have been able to negotiate from their sellers. The zeros in all but the twelve month average slot tell us that buyers are having to forego closing cost requests to get their offers accepted in multiple offer scenarios. In fact, the only reason there was even a value in the twelve month average seller subsidy is that one Braemar Carriage home seller gave $600 in seller subsidy in their October 2020 sale. That was probably a home inspection repair credit, judging by the amount.

Days on market reveals low, single digits all the way down the column, with only a one day quickening form the twelve month average to the six month average. Braemar Carriage homes are selling extremely quickly in the seller’s market.

If you placed your Braemar Carriage 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 nothing in closing cost help.

The summer months are experiencing less demand than we have seen up to the end of June, which is where this report ends. That doesn’t mean buyer demand has dried up. Inventory has increased and some buyers have taken the summer off as they travel and take vacations. A summer slow down in buyer activity and increase in seller listings in typical for our market. Even though there are still more buyers than there are listings, you may not get crazy amounts of offers in a weekend.

The next Braemar Property Value Report will be out in September. Until then, when the need arises for you to sell, understand that buyer enthusiasm is where the highest possible price comes from, no matter than market. Buyer enthusiasm is created by doing the right listing preparation and being professionally marketed, even in seller’s market. I have been helping Braemar sellers with both for a long 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
www.ChrisAnnCleland.com

Braemar Property Value Report: March-April 2021 (Carriage Series)

Braemar Property Value Report: March-April 2021 (Carriage Series)

Spring has sprung in Braemar and our community is greening up. I always love seeing the trees, flowers and lawns come back to life after winter. You may not realize it, but the Bristow real estate market really doesn’t go dormant in winter. Buyer demand is still present then and was off the charts even during the holidays. It has only gotten more intense with the coming of spring. What inventory we do have coming on the market is not even close to meeting demand.

In this edition of the Braemar Property Value Report I am going to fill you in on what has happened in the Carriage home market. 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, accessed by a private driveway off of the street, or off of a shared alley in the back of the home.  The floor plans, from smallest to largest, are: Maplewood,  Norwood,  Oakdale and  Parkdale.

During our current reporting period of March and April, there were three Braemar Carriage homes that sold. The specifics of those sales are listed below:

The sold prices are getting up into the five-hundred thousands, which is uncharted territory for these homes. Sure, the builder sold them in the fives and during the top of the market you may have caught some selling just over five, but these sold prices keep going higher than we have previously seen.

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

Starting with the sold price column we see that our six month average and six month median sold prices are much improved over their respective twelve month values. With this demand and limited inventory, sold prices are getting higher and higher, driving up values.

In the seller subsidy column we see how much closing cost assistance buyers were able to negotiate from their Braemar Carriage home sellers. Not surprisingly, both the six month seller subsidy figures are at zero. The only value not at zero in this column is the twelve month average seller subsidy with is below one-thousand dollars. Buyers are having to come in with no seller subsidy requests, and even having to drop inspection requests, just to get accepted in a multiple offer situation.

Days on market hasn’t changed much. The six month average is two days shorter than the twelve month average. The six month median and twelve month median are identical at five days. Braemar Carriage homes are always one of the hottest sellers in any market and have been selling quickly for a year or more now.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect to be under contract in less than a week. You could also expect to have multiple offers with no seller subsidy requests. Some buyers are even waiving all contingencies, including inspections, appraisal and financing.

The next Braemar Property Value Report will be out in July. Until then, if the need or desire to sell your Braemar Carriage home arises, get in touch with me to find out how a well prepared and professionally marketed home still gets even more money in this seller’s market. Getting my Braemar sellers the absolute max the market will bear is my specialty. 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: January-February 2021 (Carriage Series)

Braemar Property Value Report: January-February 2021 (Carriage Series)

Have you been wondering what your Braemar Carraige home may be worth in the 2021 seller’s market? If so, this is exactly where you need to be. Welcome to another edition of the Braemar Property Value Report focusing on Carriage homes in our neighborhood. For those unfamiliar, 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.

During the first two months of 2021, there were two Braemar Carriage homes that sold. Both were the smallest model of Carriage home available, the Maplewood. Nonetheless, when you see the details of the sale below, your jaw may fall open.

These are record high sold prices for Maplewood Carriage homes. And I can assure you, there is no home sold right now that isn’t capable of breaking a record. Buyer demand is out of control and our supply is very limited.

Taking the sales from January and February, and combining them with the sales from March 2020 to the end of 2020, we have an entire twelve months of Braemar Carriage home sales data. From that, the six and twelve month data points are updated as seen below.

Starting in the sold column, you notice that both the six month average and six month median sold prices are higher than their respective twelve month values. Braemar Carriage homes are a hot commodity, particularly as larger single family homes are ceasing to be affordable to many buyers.

In the seller subsidy column we learn how much closing cost help sellers agreed to give buyers. The six month average seller subsidy is incredibly low compared to the twelve month average seller subsidy. Meanwhile, more than half of the Braemar Carriage home sellers in both time frames gave absolutely nothing in closing cost help. To get their offers accepted in intense multiple offer situations, buyers are having to waive these requests and in more and more cases, many contingencies.

Days on market brings no surprises considering the fast pace of our current market. The six month average marketing time is half what it was in the twelve month average. In agreement, the six month and twelve month median values show four days of marketing time.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in four to five days. You could also expect to give nothing in seller subsidy.

The next Braemar Property Value Report will be out in May. Until then, if you have been considering the sale of your Braemar Carriage home, being in a seller’s market is not enough to guarantee the next highest sold price. Professional marketing, no matter the market is what it takes to create the buyer enthusiasm that pushes you to the absolute max the market will bear. Get in touch with me for a no obligation consultation on what a sale in 2021 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: 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: September-October 2020 (Carriage Series)

Braemar Property Value Report: September-October 2020 (Carriage Series)

As I stood in my living room yesterday afternoon, making a new spot for our Christmas tree, I couldn’t help but feel odd about the passage of time this year. During the spring, when we were under shelter-in-place orders by the Governor, time seemed to pass so slowly. Lately, it has been zipping past. Obviously, as a Top Bristow Real Estate Agent, the passage of time to me is often tied to how busy I am. In the spring things were a bit quiet, but folks were still selling and buying. Lately, the Bristow real estate market has been a break neck pace. And there’s been so little inventory if you reference a property by street name, odds are another full-time agent in the market will know exactly which home you are talking about and have at least one buyer in mind for it.

Today I bring you the most recent Braemar Property Value Report for Carriage homes in Braemar, looking back to the months of September and October. 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. And this time of year, it is worth mentioning, they remind me very much of a home you would see in a Christmas tree village scene.

During the last two months, there were five Braemar Carriage homes that sold. Their final sold prices ranged from $445,000 to $506,000. Details of all five sales are listed below:

Just looking at this list of homes sold, I know I showed three of these properties and wrote three offers for different buyers on them. Seems that no matter how many homes are selling, our market needs more. Taking these five sales and combining them with the entire past twelve month of Carriage home sales, the six and twelve month data points are updated to give us a refreshed picture of what’s happening in the market.

First stop is the sold price column. Here we see what I would expect to see–both the six month average and six month median sold prices are higher than their respective twelve month values. This means Braemar Carriage homes are still gaining value, and in healthy strides.

Seller subsidy is where we get to learn how much closing cost help sellers agreed to give buyers in their transactions. While four of the five most recent sales gave nothing, only one sale gave a small credit, which I suspect was negotiated for inspection repairs. As a result of sales like the most recent ones, the six month average seller subsidy has significantly decreased compared to the twelve month average. Meanwhile, both the six and twelve month median seller subsidy values remain at zero, which means more than half of sellers in both of those periods gave nothing in closing cost help. Again, not surprising given the intense buyer demand and lack of inventory. Buyers are having to foot their own bill to purchase in this market.

Last up is the days on market column, or marketing time, as I like to call it. The six month average marketing time was two days faster than the twelve month average marketing time. Meanwhile, the six and twelve month median are the same at five days.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in less than a week, maybe a week and a half. You could also reasonably expect to give no closing cost help.

The next Braemar Property Value Report will be out in January, at which point we will be able to see how Braemar Carriage home values did at the close of the year. I expect nothing but good news on that front. In the meantime, if a Braemar home sale is looming on the horizon, you may want to investigate our year end market, rather than waiting for spring. It is a powerful time of year to sell with a lot less competition than spring usually brings. Get in touch with me to find out what listing sooner might mean to your bottom line. 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: July-August 2020 (Carriage Series)

Braemar Property Value Report: July-August 2020 (Carriage Series)

 

It won’t be long before we see a brilliant display of fall foliage and I am looking forward to it.  This summer has been one of the most hectic I have ever experienced as a Bristow Real Estate Agent.  And unfortunately for buyers, I don’t think the fall market is going to ease up the demand or lack of supply.

Right now it is time for another Braemar Property Value Report, featuring sales of Carriage Homes in our neighborhood for the months July and August.  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 during the months of July and August.  Details of those sales are listed below:

Taking these three sales and combining them with the rolling twelve months of previous Carriage home sales in Braemar, our six and twelve month data points are updated as reflected below:

Starting with the most important column to Braemar Carriage home owners, the sold price column, we see that both the six month average and six month median sold prices are well above the twelve month average and median sold prices.  This means that Braemar Carriage homes are continuing to increase in value.  Not surprising.  Out of the two homes that sold in in July and August, I had two buyers that competed in multiple offer scenarios, making healthy offers, and lost.  That kind of competition is what is driving these values up.

In the seller subsidy column we get to see how much closing cost help sellers are agreeing to give buyers.  The six month average seller subsidy has shrunk by more than half of the twelve month average seller subsidy.  Mean, the six month median seller subsidy has zeroed out compared to the $5,000 twelve month median seller subsidy.  And even looking at the details of the current reporting period’s sales we see that not one Braemar Carriage home seller had to give any seller subsidy.  In those intense multiple offer scenarios, closing cost help is an ask that buyers are learning to forego.

Finally, when it comes to days on market, I am bit surprised to see that the six month average marketing time was two days longer than the twelve month average marketing time.  Clearly not a value in the most recent sales throwing that number off, but good to know that even in the seller’s market we have been experiencing for many months now, you can over price a home or have it presented poorly to the market and linger while others are snatched up immediately.  Meanwhile, the six month median marketing time is half of what it was in the twelve month median.  That is more what I would expect to see.

If you placed your Braemar Carriage 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 that you would not have to give anything in seller subsidy.

The next Braemar Property Value Report will be out in November.  Until then, if you are interested in selling your home while values are reaching their peak, give me a call for the most accurate market analysis and top notch marketing that has not slacked at all during these seller conditions.  I understand that the better the first impression, the more money you will make in 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

Braemar Property Value Report: March-April 2020 (Carriage Series)

Braemar Property Value Report: March-April 2020 (Carriage Series)

Even though shelter-in-place is still in effect and our daily lives are off kilter from what they had been prior to the pandemic, the Braemar real estate market doesn’t seem to be feeling any ill effects.  Today we will look at what is happening with respect to Braemar Carriage home values in this edition of the Braemar Property Value Report.  Of course, if you don’t know what a Braemar Carriage home is, they 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 two Braemar Carriage homes that sold during our current reporting period of March and April 2020.  The details of those sales are listed below:

Taking these two sales and combining them the entire past twelve months of Braemar Carriage home sales, our six and twelve month data points are updated as follows:

Looking first at the sold price column, we see great news in the fact that both the six month average and six month median values are higher than their respective twelve month values.  This means Braemar Carriage homes are continuing to gain value.  And given the most recent sales of some of the smaller Braemar Carriage homes above, we see those are even higher!  I suspect Braemar Carriage homes will continue to increase in value in the near future.

When it comes to seller subsidy (closing cost help from sellers to buyers,) we see that those values have increased in the six month values compared to the twelve month values.  This means that Braemar Carriage home buyers have been asking for, and receiving more closing cost in the more recent past.  However, this trend may reverse based on what we see in the two most recent sales above.  One of those gave no closing cost help at all, the other only gave $5,000.  If that is something we see in future sales, seller subsidy will decrease in the shorter term.

Finally, looking at marketing time, we see very slight increases in both the six month average and median values over their twelve month counterparts.  One of our more recent sales detailed above shows a higher marketing time, however.  Will be interesting to see which way this trend goes in future reports.

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in two to three weeks.  You could also expect to pay about 1.5% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in July.  Until then, know that real estate is considered an essential business in our state.  If the need arises to sell your home during the pandemic, I can help you sell your home safely and for top dollar.  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

 

 

Just in Time for the Holidays, Another Braemar Carriage Home Sold

Just in Time for the Holidays, Another Braemar Carriage Home Sold

One one month ago today I listed 13236 Daldownie Court, a three bedroom Norwood model Carriage home for $429,000.  It didn’t take long for the buyers in the marketplace to respond.  The sellers had two offers within two days on the market.  Year end demand is not unusual in our Braemar real estate market.

After an uneventful home inspection and appraisal, the only issues left to resolve for the buyers were HOA covenant violations.  Yes, complying with HOA violations is a necessary thing for sellers in any HOA community.  And even though there the sellers didn’t technically violate any covenants, the bookkeeping with the on-site community management is far from the greatest.  These sellers were violated for a retractable awning that the Braemar Community Association said there was no need to apply for, back in the day,  as long as it matched the exterior trim or siding.  The other violation was having flagstone pavers put in by the builder.

What a reasonable person sees as logical, and can prove, is tossed aside by the covenants administrators.  They like applications on file.  So the sellers filled out an application for both and were in compliance.  A grand waste of time, but I did advise the buyer’s agent that the new owner should hold onto the HOA abatement letter stating the items were in compliance.  Heaven knows they will get violated again when it is their turn to sell.

Today, December 6th (2019) this Braemar Carriage home sold for $430,000.  The buyers were fortunate to get some closing cost help, but less than half of what they had requested.  That’s what happens when lack of inventory puts buyers in competitive situations.  Closing cost help requests are negotiated down, or aren’t even made.

If you have been considering the sale of your Braemar home, don’t think there is only one season that will bear out a favorable sales price.  I sell Braemar homes for top dollar all year long.  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 Property Value Report: September-October 2019 (Carriage Series)

Braemar Property Value Report: September-October 2019 (Carriage Series)

There is something so beautiful about the the fall and winter sun. The sunbeams streaming through my windows in the morning this time of year seem so much more substantial. That is all due to the sun hanging lower on the horizon.   Of course, the low position of the sun in the sky can be very dangerous for those heading west in their afternoon commutes.  Where there is a plus, there is a minus.  It’s the same in real estate, which is ultimately what I’m here to talk to you about.

This is the Braemar Property Value Report for Carriage homes in our neighborhood.  In this particular edition we get a chance to see what happened in September and October and how that is shaping the over all Carriage home real estate market trends  If you don’t know what homes fall in the Carriages Series, they 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.

In our current reporting period, there were six Braemar Carriage homes that sold.  When you get a look at the details of those sales below, you will see a very tight grouping of sold prices.  Not unusual since all but one of these homes were three bedroom Norwood models.  Only one four bedroom Parkdale (the largest of the Carriage homes) is in this list.  Unfortunately, either its condition or the the location directly backing to the two power transmission lines did not even get its final sold price higher than the smaller Carriage homes that sold around the same time.

Combining all six of these sales with the rolling twelve months of past Carriage home sales our six and twelve month data points are updated.  This is where we get a sense of our trends.

Looking first to the sold price column, we see that both the six month average and median sold prices are higher than their twelve month respective values.  This means Braemar Carriage homes are continuing to push up in value.

Next we turn our attention to seller subsidy (a.k.a. closing cost help to buyers.) Here we see another seller favored trend.  The seller subsidy in the more recent values, six month average and median, are less than the twelve month counterparts.  Buyers in the Braemar Carriage home market are facing more competition, which means they have to lean out their requests to get under contract with sellers.

Last, but not least, we get to days on market.  This is an important value because when you put your Braemar Carriage home on the market, you want to know how long it is going to take to sell.   Looking at the six month average and median marketing times we see that they are both shorter than their respective twelve month data marketing times.  Braemar Carriage homes are selling faster!  Even my most recent listing of 13236 Daldownie Court , listing in November, received two offers in two days!

If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it be under contract in less than two weeks…or sooner.  You could also expect to pay about 1% of the sales price in seller subsidy.

The next Braemar Property Value Report will be out in January.  Until then, I wish you every happiness this holiday season.  As always, if the need arises to sell your Braemar home, no matter the season, give me a call for the absolute best results.  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

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