Braemar Condo Quarterly: April-June 2020 (2nd Quarter)

Braemar Condo Quarterly: April-June 2020 (2nd Quarter)

Summer is definitely here, and as usual, it is hot and humid.  And during these hot and humid months, our Bristow real estate market usually slows a bit.  Not this year!  Our market is crazy busy.  Sellers are cleaning up and buyers are frantic to get a home.  This Braemar Condo Quarterly value report will cover the sales activity in the second quarter, which are the months of April, May and June.

There were five Braemar condos that sold in the second quarter.  The details of those sales are listed below:

Taking these five sales during the second quarter of 2020 and combining them with the sales in the three quarters previous, we get an entire year’s worth of sales data.  Here are the updated six and twelve month data points:

Starting with the sold price column, we see what I would expect to see.  Both the six month average and six month median sold prices are above their respective twelve month values.  Braemar condos are gaining value.

The seller subsidy column is where we see how much closing cost help Braemar condo sellers are giving in their sales.  Again, not surprising to see that seller subsidy in the six month values is below their respective twelve month values.  Even in the five sales we see itemized above, there was only one buyer out of five that got any closing cost help at all.  Clearly, now is the market where Braemar condo sellers can truly maximize profit.

Finally, looking at days on market, we see the average and median marketing time in the six month values is only three days.  That’s below the twelve month average marketing time of seventeen days and below the twelve month median marketing time of six days.  Braemar condos are flying off the shelves.

If you placed your Braemar condo on the market, priced to current conditions, you could expect it to be under contract in days.  You could also expect you may get a buyer that will forego a closing cost help request.

The next Braemar Condo Quarterly will be out in October.  Until then, if you have a Braemar condo you want to sell, give me a call.  I will be happy to put my years of experience in our market to work for you.  And if you are buyer looking for a Braemar condo, I will have hitting the market very soon.  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: November-December 2019 (Carriage Series)

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

703-402-0037, ChrisAnn@LNF.com

www.SellingBraemar.com

www.UncompromisingValues.com

Braemar Condo Quarterly: October-December 2019 (4th Quarter)

Braemar Condo Quarterly: October-December 2019 (4th Quarter)

Happy New Year!  This is the first official Braemar market report hitting SellingBraemar.com in 2020.  And since I do not own a crystal ball to predict what IS going to happen in our market, this is a look back at the most recent sales.  This particular report covers Braemar condo sales in the fourth quarter of 2019.

It shocks a lot of residents in our neighborhood to know that there are condos in our neighborhood, but a condo is merely a form of ownership.  In a condo ownership, the condo association owns and insures the structure where residents live.  They don’t have to be apartment style.  Braemar condos are the townhouses known as Barrhill at Inverness Village Condos.  

There were five Braemar condos that sold between the beginning of October and end of December 2019.  Their sold prices are a very tight grouping, ranging from $285,000 to $291,000.  Details of those sales are listed below.

 

 

 

Taking the fourth quarter of Braemar condo sales and combining them with the entire twelve months of 2019 sales, our six and twelve month data points are updated as follows:

Looking first at the sold price column, we see that both the six month average and six month median values are slightly above their respective twelve month values.  Even though the increases are slight, this still points to Braemar condos inching up in value.

Seller subsidy, unfortunately, is also inching up.  The six month values are both above their twelve month counterparts.  Not a trend prospective sellers necessarily like, but this means Braemar condo buyers are asking for, and receiving, more closing cost help from sellers in the more recent sales.

When it comes to days on market, another upward trend is seen when comparing the six month values to their respective twelve month values.  Marketing time is a little longer in the more recent sales.

If you placed your Braemar condo on the market, priced to current conditions, you could expect it to be under contract in two to four weeks.  You could also to pay about 2% of the sales price in seller subsidy.

The next Braemar Condo Quarterly will be out in April. Between now and then, our temperatures will warm up and we’ll start to see spring blooming.  Of course, the spring real estate market in Braemar starts a lot earlier than that.  If you have been considering the sale of your Braemar condo, give me a call and let’s talk.  Getting the maximum amount of money when you sell your Braemar home is what I do best.  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