Braemar Property Value Report: November-December 2019 (Carriage Series)
Winter was definitely feeling a bit too mild there at the turn of the New Year. With today’s wintery mix, Mother Nature sends us a reminder of what she can throw our way. I’ll be staying inside the comfort of my own Braemar home today and sharing with you the latest Braemar Property Value Report for the Carriage Series homes in our neighborhood. For those unfamiliar, Carriages 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 two Braemar Carriage homes that sold during the last two months of 2019, and I am very pleased to have represented the sellers of one of those sales, 13236 Daldownie Court. That’s the reason that sale is highlighted in pink, in the details of those two sales below.
Taking these two most recent sales and combining with all the Carriage home sales from 2019, we get updated six and twelve month data points that clue us in as to what is happening in our marketplace.
Let’s start by looking at the sold price column. Here we see that the six month average sold price is slightly lower than the twelve month average sold price. Meanwhile, the six month median sold price is higher than the twelve month median sold price. At worst, Braemar Carriage home values are stable, but just the knowledge I have from dealing with the sale of 13236 Daldownie, they seem to be increasing in value.
Next up we see that the seller subsidy figures (closing cost assistance to buyers) is higher in both the six month average and median compared their twelve month counterparts. This means Braemar buyers have been asking for, and receiving, more closing cost help in recent sales.
Finally, days on market shows mixed data. The six month average marketing time is five days shorter than the twelve month average marketing time. Meanwhile, the six month median marketing time is three days longer the twelve month median marketing time. These aren’t big changes either way, so for now we can call marketing time stable.
If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in about two weeks time. (Of course, if you hire me to be your Listing Agent, you may be under contract in a lot less time, judging by the three day marketing time achieved on 13236 Daldownie.) As for seller subsidy, you could expect to pay about 1.5% of the sales price in closing cost help.
The next Braemar Property Value Report will be out in March and show us how we started 2020. Until then, if you have been thinking that the 2020 spring market may be the time for you to sell your Braemar Carriage home, don’t wait for Mother Nature’s version of spring. The Braemar spring real estate market comes to life a lot earlier than the flowers, trees and grass. Give me a call to find out how to maximize your profit when you sell. Since 2005, No One Knows Braemar Better!
Chris Ann Cleland
Associate Broker-Licensed in VA
Long & Foster Real Estate