Braemar Property Value Report: March-April 2023 (Arista Series)

Posted on May 10, 2023 by cacleland

Braemar Property Value Report: March-April 2023 (Arista Series)

The spring weather has finally decided to stay, but if I know the Bristow and the larger Northern Virginia area well (and I should, I am a NoVa native) we will be complaining about hot summer days in a matter of weeks, if not days. The mild temperatures of the fall and spring are fleeting, enjoyable for a relatively short time before we begin experiencing the extreme temperatures of the season.

On this gorgeous spring day I bring you the latest Braemar Property Value Report for homes in the Arista Series. These are the largest homes built by Brookfield Homes in our Braemar community and include the following three floor plans: Allister, Buckingham and Canterbury. This particular edition focuses on the sales activity from the months of March and April. Unfortunately, during those past two month, there were no Arista home sales to report. Not because they were on the market and lingering without buyer activity. On the contrary, our Braemar market is experiencing an extreme lack of inventory.

Despite there being no Arista home sales to report from March and April, the six and twelve month data points tracked in this report are still updated as March and April 2022 are dropped from the continuous monitoring of home sale data. The updated six and twelve month data points cover from May 2022 to April 2023 and can be seen below.

For starters, let’s talk a look at the sold price column. Both the six month average and six month median sold prices are still above their respective twelve month sold prices, but not by much. In the absence of recent sales for March and April, this could lead one to believe our market is shifting and prices are softening. Based on what I am personally seeing in the marketplace, the severe lack of inventory is not having a negative impact on values. Rather, homes are selling quickly right now and, at least for the homes I’ve had the pleasure to help buyers purchase or those that I have listed for sellers, the market all over Northern Virginia is hot, hot, hot where sellers are concerned. I would not lose a moment’s rest over the tightening gap between these sets of sold prices.

Seller subsidy (closing cost help to buyers) is now present in three of the four data points, where it had only been present in two last report. The six month average has gone up since then and now we have a six month median value. The only true statements I can make that are uplifting is that only three of the eight sellers making up the twelve months worth of Arista home sales gave any seller subsidy. Therefore the reason there is a zero in the twelve month median seller subsidy is that more than half of the Arista home sellers in the last year gave none. Seller subsidy may or may not be a factor for an Arista home seller in the near future. It depends on many factors, not the least of which is how much buyer enthusiam there is about a listing.

Days on market shot up in both six month values due to a single sale in the last report that took 108 days to go under contract. With only two sales having happened in the last six months, and one of them having that abnormally long marketing time, the six month values may be skewed even next report. Near the end of summer that sale will fall to the twelve month values. For now, most sales are still hapenning quite quickly.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contract in about two or three weeks. You may get seller subsidy requests from buyers, but if your home is properly priced, well prepared and professionally marketed, it is reasonable to assume you could negotiate the number down or have multiple offers to choose from, some which may not have that seller subsidy request.

The next Braemar Property Value Report will be out in July. Until then, if you are curious as to what your Braemar home is worth in the current market, please reach out for a complementary consultation. It is my pleasure to discuss our real estate market with you and help you find your place in it. One of the things that gives me the most pride is making sure my Braemar sellers hit the top of whatever market conditions in which they are selling. 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 Reflection Quarterly: January-March 2023 (1st Quarter)

Posted on April 18, 2023 by cacleland

Braemar Property Value Report: January-March 2023 (Reflection Series)

Last, but certainly not least in my series of quarterly Braemar real estate market reports is this Braemar Reflection Quarterly. The focus here is on sales of homes on Tarvie Circle in our neighborhood. These single family home are considered to be semi-attached,or semi-detached, depending on how you look at things. The point of attachment for these homes is at the rear load garage. Reflection homes are attached in pairs, so there is only one neighbor to which each home is attached.

During the first quarter of 2023, there were two Reflection home sales. Details are listed below.

Both of these homes sold very close to their original list prices. One got a bump one-thousand dollars above list and the other got a one dollar bump above list. I think the major difference was the timing of the market. The first sale at 9660 Tarvie hit the market in mid-January. At that point in time, buyer behavior was still more cautious and slower to act. By the time the second listing at 9676 Tarvie hit the market in early March, buyers were acting quickly and decisively again. To me, this explains why one seller gave seller subsidy and the other didn’t. Market conditions have been dominated by buyer behavior. When buyers hesitate to write offers, it is often after two or three weeks on the market that sellers get nervous and are willing to work with the first offer they get. When buyers act quickly, sellers are more likely to push back or even get multiple offers.

When looking at the past twelve months of Reflection home sales in the neighborhood, we only have three total. However, when those three are diced into six and twelve month data points, here is what we get:

The sold price column shows a decrease in average and median values in both six month values compared to their respective twelve month values. This is not surprising given how buyer behavior had changed in the second half of 2022 and into the beginning of 2023.

Seller subsidy (closing cost help to buyers) has gone up in both six month values. However, with the twelve month median seller subsidy value at zero, we know that only one of these three sales gave any closing cost help. That’s not bad news.

Marketing times have gone up a tad in the six month values compared to their corresponding twelve month values. A jump of one and two days is nothing substantial.

If you placed your Braemar Reflection home on the market, priced to current conditions, you could expect it to be under contract in a week. If your home was properly prepared for buyers to see and professionally marketed, you could also expect the fruits of lifting the all important buyer enthusiasm. When buyers are excited about your home, you stand a better chance at aggressive offers that favor you, or getting multiple offers. Being able to advise my sellers on creating buyer enthusiasm is how my Braemar sellers reach the top of the market.

The next Braemar Reflection Quarterly will be out in July. Until then, if you want to know what your home is worth in the current market, I would be delighted to help you. Get in touch and let’s talk. Since 2005, No One Knows Braemar Better!

Braemar Property Value Report: September-October 2022 (Heritage Series)

Posted on November 17, 2022 by cacleland

Braemar Property Value Report: September-October 2022 (Heritage Series)

It certainly did get bone chillingly cold in short order. And if you listen to talking heads about what rising mortgage interest rates are doing to the real estate market, you may see a metaphor coming. Not from me. Buyer activity has changed, but we are still in a seller’s market. In this edition of the Braemar Property Value Report, focused on Heritage homes in our neighborhood, the news will be one-hundred percent local, analyzed by me, who actually works full-time in the field.

Before we begin, let me clarify what qualifies a house in Braemar as a Heritage home. They are the mid-sized single family homes, built by Brookfield Homes in our neighborhood. They have two car attached garages and include the following floor plans: Exeter, Yardley, Zachery (a.k.a. Zurich) & Waverly. The homes built by Coscan (before Brookfield Homes took them over) in Braemar North Gate are also included in this group, as they are similar in size.

During the current reporting period of September and October, there were two Heritage homes that sold in Braemar. Both were Yardleys with partially finished basements. Details of those sales are below.

The sale highlighted in pink text was my listing. I was surprised to see another Yardley sell for more just days later, but once I saw the difference in the home, I understood. In fact, the difference between these two sales is a great lesson in “market extraction,” the method appraisers use to determine what an upgrade or feature in a home is worth. First, they must find homes similar. One without the feature(s) and one with the feature(s.) The difference is the “market extraction” for the feature or upgrade. In this case, if an appraiser wanted to know what hardwood floors on the entire main level and a walk-up exit from the basement were worth, that would be $22,000. While my listing did go under contract quickly for what was happening at the time, and get a great price, it did not have an exit from the basement and there were three types of flooring on the main level: hardwood in the foyer and dining room, carpet in the living room and family room and a one sheet vinyl installation in the kitchen and breakfast nook. We did talk about lifting the value with updating the flooring to LVP throughout, but what they would have spent would not have made up for it. They still didn’t have an exit from the basement. They got what they had in great shape and did very well on the market.

Taking these sales and combining them with the Heritage home sales dating back to November 2021, the six and twelve month data points are updated and still show a seller favored market.

Starting with an examination of the sold price column, both six month values are higher than their respective twelve month values. However the gap between them, compared to last report, is narrowing. The steep increase in mortgage interest rates has affect buyer behavior, but demand is still outpacing supply. Buyers are simply no longer prone to a feeding frenzy that has them bidding above list and waiving contingencies. Our values are still trending up, just not steeply.

Seller subsidy (closing cost assitance from seller to buyer) is surprisingly absent from the six month median values, unlike a lot of reports I have prepared for the same time period. It is not surprising to see small values in the six and twelve month average values. Mortgage interest rate buy downs are being requested by buyers, and in some cases, offered by sellers in lieu of lowering list prices.

Days on market shows a two day uptick in the six month average marketing time compared to the twelve month average marketing time. Meanwhile, the six and twelve month median marketing times are the same at six days. Despite the change in buyer behavior, homes are not taking very long to go under contract.

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect it to be under contract in about two weeks. You could also expect buyers to not be shy about asking for seller subsidy. You don’t need to offer it. If your home is well prepared, properly priced and professionally marketed, it should create enough buyer enthusiasm that a buyer may act without asking for closing cost assistance. Getting buyers excited about a listing in any market is the key to getting the best terms in the shortest amount of time.

The next Braemar Property Value Report will be out in January and will let us know how we ended the year. In the meantime, I hope you enjoy this upcoming holiday season. If a move pops up on your horizon, know that my business is open year round, connecting buyers and sellers no matter the season. Get in touch and let me know when you are planning to list so we can get a head start on creating that buyer enthusisam. Since 2005, No One Knows Braemar Better!

Braemar Property Value Report: November-December 2021 (Ryan Homes)

Posted on January 13, 2022 by cacleland

Braemar Property Value Report: November-December 2021 (Ryan Homes)

The picture above felt all too appropriate for this edition of the Braemar Property Value Report. Though we are here and now in 2022, this particular installment looks back to the last two months of 2021 for the most recent sales activity for Braemar houses built by Ryan Homes. After that, a brief look at the six and twelve month data points will tell us how Ryan homes in Braemar are trending. I still remember selling that Ryan Home in eight days in a much different market.

There were two sales of Ryan homes in Braemar in November and December. The details of each are listed below:

Neither of these sales is overly impressive. Then again, one was essentially an owner representing himself, but paying for MLS (multiple listing service) placement and the other was a home with amateur marketing. The Ballagan home was the limited service agent/owner self-representation. He sold $20,000 below list price, gave $10,000 in closing cost help and it took him nearly a month to do it. Not good, nor indicative of what our fourth quarter market had to offer. The other sold $100 above list price, but gave $15,000 in closing cost help. (gulp) I have done several Braemar Property Value Reports for this same time period. These are the only two single family homes to give seller subsidy in the last two months of November. Professional marketing agents are worth what they charge for what they bring to the table. Say a seller paid 1% more for an agent that did professional marketing on the second home, they would likely have still saved that $15,000 in closing cost help request. A net win! The description of the home tells the tale of a cul-de sac home with roof and appliances only three years old. Sellers get the marketing and representation they pay for. Who knows how good a deal the first home could have had with an agent negotiating on their behalf? No seller subsidy and probably closer to list price. Both more than worth it. Buyer enthusiasm doesn’t exist for no reason. You need to create it.

Taking all the sales from 2021 and parsing out the six and twelve month data points I follow in this report, here is what we get:

Starting with the sold price column, the good news for Ryan home owners is that values are still rising, in spite of the most recent sales. Look for the rate of increase to slow in 2022, as myself and other are predicting the 2022 growth will be very modest.

Seller subsidy values, despite the very large amounts given in the recent sales, on average are still very low. Obviously, the six month average is elevated from the twelve month average because of the two sales from November and December. However, the fact that the six and twelve month median values are at zero tell us that more than half of Ryan home sellers in both time frames gave nothing in closing cost help. Hire the best negotiators and get the best results.

Days on market, again…despite the two most recent sales, is still very fast when it comes to average and median values. Hire professional marketing agents and your home will sell quickly.

If you placed your Ryan home in Braemar on the market, priced to current conditions, you could reasonably expect it to be under contract in a week. You could expect to give nothing in closing cost help. However, buyers have been coming back with the typical contingencies in their offers since the second half of 2021. Those are financing, appraisal and home inspection.

The next Braemar Property Value Report will be out in March. Until then, if 2022 is the year you think you may want to sell, now is the time to start talking to your real estate professional. Give me a shout. My unparalleled neighborhood knowledge (and pride,) combined with my professional marketing make my Braemar sellers very happy. Since 2005, No One Knows Braemar Better!

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

Posted on September 1, 2021 by cacleland

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

As I type this, Tropical Storm Ida is making this day in Bristow perfectly miserable. Bands of wind and rain have been broken by the ocassional glimpse of sunshine. Days like this always remind me why I gave up on umbrellas and now opt for hooded rain jackets. There is never a substitute for the best preparation for anything in life, real estate included.

Today I bring you the first in the July-August 2021 Braemar Property Value Reports. This one focuses on sales of Arista Series homes in our neighborhood. Arista homes are the largest single familiy homes built by Brookfield Homes in Braemar and include the Allister, Buckingham and Canterbury models. Let’s get right to it and see what happened during the last two months of summer.

During July and August there were three Arista homes that sold in Braemar. They were all Canterbury models with three to four fully finished levels. The details of each of those sales is detailed below:

Quite a difference in sold prices to see a six bedroom, five and a half bathroom Canterbury sell for $729,000 while two others with one and two fewer bedrooms, and one fewer full bathrooms, sold for $790,000 and $791,000. What’s the difference? The $729,000 sale was a little more basic inside in terms of finishes (Corian counter tops, for instance in the kitchen,) but the glaringly obvious fact to an agent like myself on that lower sale was the lot. That home backed to the middle school and the water tower. Location matters tremendously in real estate.

By comparision, the $790,000 and $791,000 sales backed to trees. One was very well kept with a finished loft in addition to the basement. That was the $790,000. The $791,000 backed to the same tree line, lacked a finished basement, but had an in ground pool. Pools are great, but should not be counted upon in the Bristow market to bring you more in your sale. In this case, it seems the pool was equivalent in markekt value to a finished loft that added an additional bedroom, bathroom and open space.

Taking all three of these sales and combining them with the entire past twelve months of Arista home sales in Braemar, the six and twelve month data points provide us information that suggest the market may be slowing down.

To start with, the sold price column doesn’t show tremendous increases in sold prices from the six month average and median compared to the twelve month average and median. The highest increase was comparing the averages and only accounted for abourt 1% average increase in six months. The median sold prices are much more telling, as they show an increase of only $500 in six months. Our last report showed much larger increases.

Seller subsidy, also known as closing cost help to buyers, was zero down the line. This is something we have been seeing as buyers compete for fewer homes. Asking for closing cost help in an offer is a one way ticket to not getting your offer accepted in multiple offer situations these days.

Days on market reveals more data that inidcates a slowing pace to the frenzied seller’s market. Both the six month average and six month median marketing times were longer than their respective twelve month values. Nine days is still not a long time to market a home by any means, but it is an indcator that the market is changing to see marketing time getting longer.

If you placed your Arista home on the market, priced to current conditions, you could expect it to be under contract in more than a week and less than two weeks. You could also expect to not have to give any seller subsidy.

The market slow down in this report from July and August is likely an impact of summer vacations. So many families missed out on them in 2020 and were adamant about taking them this year. Buyers took time away from the market for summer and sellers who thought that summer vacation while the kids are out of school is the best time to list, provided a lot more inventory, giving the fewer buyers more choices. Obviously, it is still a seller favored market. Only time will tell if the buyer frenzy that drove prices up steeply this year returns in the fall.

The next Braemar Property Value Report will be out in November. We’ll have a good idea by then if the buyer frenzy has returned. Until then, if you want an in depth market analysis of what a sale could mean for you, get in touch with me. Listing preparation and professional marketing are the keys to not leaving money on the table, no matter the market. And my added expertise on our neighborhood add even more the professional marketing of your home. Since 2005, No One Knows Braemar Better!

Braemar Property Value Report: January-February 2021 (Ryan Homes)

Posted on March 18, 2021 by cacleland

Braemar Property Value Report: January-February 2021 (Ryan Homes)

It’s been a dreary, drizzly day in Braemar today. Nonetheless, the real estate market is ticking right along. I’ve talked to two potential Braemar sellers and shown property to a Bristow buyer in search of a townhouse today. Our market seems completely oblivious to passing events like weather and even the pandemic.

In this edition of the Braemar Property Value Report the focus is on resales of houses built by Ryan Homes in our neighborhood. Our reporting period for sales is the first two months of the year. Let’s get right to it.

There was one Ryan home that sold during our current reporting period. The details of that sale are detailed below:

At first glance, I find it odd that a home would sell for anything less than list price during this frenzied seller’s market. Especially a home that was only the market for six days. Nonetheless, it wasn’t that far off of its list price. Taking this sale and combining it with the entire past twelve months of Ryan Home sales, the six and twelve month data points in this report are updated as seen below:

Everything looks completely as I would expect seeing the six month average and six month median sold prices above their respective twelve month values. This means that Ryan Homes in Braemar are continuing to increase in value.

The seller subsidy column is where we see how much closing cost help buyers were able to negotiate from Ryan Homes sellers in Braemar. Not surprisingly, the six month average seller subsidy has decreased significantly from the twelve month average. Meanwhile the six month median is at zero…quite a change from the $4,000 twelve month media seller subsidy. Buyers are having to go with more seller favored terms in their offers to get accepted in multiple offer situations lately.

Days on market shows single digits down the line, five being the highest. No analysis needed. Ryan Homes are selling FAST.

If you placed your Ryan Home in Braemar on the market, priced to current conditions, you could expect it to be under contract in less than a week. You could also expect multiple offers with buyers dropping many typical contingencies and seller subsidy requests in an effort to be chosen.

The next Braemar Property Value Report will be out in May. Until then, when the time comes to sell your Braemar home, find out what my unparalleled market knowledge and top notch marketing can do for you. Sadly, even in a seller’s market there are homeowners leaving money on the table. Since 2005, No One Knows Braemar Better!

Braemar Property Value Report: November-December 2020 (Ryan Homes)

Posted on January 22, 2021 by cacleland

Braemar Property Value Report: November-December 2020 (Ryan Homes)

The end of a very long week has arrived. This day alone has felt like three days with the amount of phone calls I am getting on a Gainesville single family home listing that hit the market this morning. Buyer demand is beyond belief. We’ll talk about it in this installment of the Braemar Property Value Report, focusing on sales activity of properties built by Ryan Homes in our neighborhood.

This report looks back to November and December for sales activity. There was no Ryan Home that sold in these months because none where on the market. Had they been, they would have been bowled over by buyers. Despite the lack of activity, however, we have updated six and twelve month data points for the Ryan Homes sales activity in 2020. It looks like this:

Starting with the sold price column, we see both the six month average and six month median values are higher than the twelve month average and median values. This means that in the most recent sales, Ryan Homes were still pushing up in value.

The seller subsidy column is where we find out how much closing cost help buyers were able to negotiate from their Ryan Home sellers. The six month average seller subsidy is well below the twelve month average seller subsidy. Meanwhile, the six month median is at zero from $5,000 at the twelve month median mark. What that zero six month median means is that more than half of Ryan Home sellers in the last six months have given nothing in closing cost help. That’s what I am seeing across the board as more buyers compete in multiple offer situations in Braemar.

Days on market is stable down the line. The six month average marketing time is only one day shorter than the already short twelve month average marketing time. The six month median and twelve month median marketing times are identical.

If you placed your Ryan Home on the market, priced to current conditions, you could expect it to be under contract in less than one week. You could also expect to pay nothing in closing cost help, given the way the market is gobbling up houses.

The next Braemar Property Value Report will be out in March. Until then, when the time comes to sell your Braemar home, call me for a free market analysis. My sellers do better than they expect with my professional marketing and unparalleled neighborhood knowledge. Since 2005, No One Knows Braemar Better!

Braemar Property Value Report: November-December (Heritage Series)

Posted on January 18, 2021 by cacleland

Braemar Property Value Report: November-December (Heritage Series)

Holiday Mondays have a tendency to throw my internal work schedule off. And with a typical Monday being my favorite day of the week, I’ve decided that this Top Braemar Real Estate Agent is just going to plow through the day, business as usual. And part of business as usual for me is compiling Braemar Property Value Reports. Today’s installment covers sales of the Heritage homes in our neighborhood. Heritage homes are mid-sized single family homes, built by Brookfield Homes. They have two car attached garages and include the following floor plans: Exeter, Yardley, Zachery (a.k.a. Zurich) & Waverly. The homes built by Coscan in Braemar North Gate are also included in this group, as they are similar in size.

There were three Braemar Heritage homes that sold in the last two months of 2020. The details of those sales are listed below:

The difference is sold price between the top sale on Conveyor and the other two sales on Erroll is about $100,000. That’s huge. However, bear in mind that the Exeter on Conveyor is the smallest in the Heritage Series. By contract, the Waverly model is one of the largest. And the ones on Erroll are also in the last area completed by Brookfield homes. This is one of the reasons we look at six and twelve month averages. When combined with the Heritage home sales from 2020, our six and twelve month data points are updated as seen below:

Both the six month average and six month median sold prices are higher than their respective twelve month sold prices. This means that Heritage homes in Braemar are continuing to rise in value. It’s likely we’ll see them peak in value late this year or early next, but we’ll only know we have hit the peak when values decline from that point in future reports.

The seller subsidy column is where we get to see how much closing cost help buyers negotiated in their purchase contracts with Braemar Heritage home sellers. What is surprising is that the six month average seller subsidy is a little higher than the twelve month average seller subsidy. Don’t get me wrong. It’s not by leaps and bounds, but a move in an unlikely direction, particularly when you look at the median values in seller subsidy. Both the six and twelve month median seller subsidy values being at zero means that in both time periods, more than half of Braemar Heritage home sellers gave nothing in closing cost help. Even the three most recent sales above all indicate nothing given in seller subsidy. It’s a tough market to negotiate closing cost help for buyers as they are in multiple offer situations on virtually every property. Sellers have the upper hand.

Finally we get to days on market. The six month average marketing time was six days shorter than the twelve month average marketing time. The six month median marketing time was one day shorter than the twelve month median, but both of them are in single digits.

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect it to be under contract in a week or so. You could also reasonably expect to give absolutely nothing in closing cost help.

The next Braemar Property Value Report will be out in March. Until then, know that our market is still experiencing extreme buyer demand and very limited inventory. If you have ever wanted to sell when you could make the most for your home, now would be the time. And when you list with me, you get top notch, professional marketing along with an unparalleled understanding our neighborhood market that will net you the absolute max in your sale. Since 2005, No One Knows Braemar Better!

Braemar Property Value Report: September-October 2020 (Ryan Homes)

Posted on November 13, 2020 by cacleland

Braemar Property Value Report: September-October 2020 (Ryan Homes)

Having closed out September and October, it is time to bring you another Braemar Property Value Report. Today’s report focuses on the houses built by Ryan Homes in our neighborhood.

There were two Ryan homes that sold during the last two months. As you will see by the details of both sales below, there is quite a bit of difference in their sold prices. What is not noted is the square footage of the homes. However, you have probably rightly guessed by now that the Chandler model is a lot larger than the Victoria model.

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

Everyone loves to start with the sold column, and so do I. Here we find that both the six month average sold price and the six month median sold price are higher than their respective twelve month sold prices. This means that Ryan homes are continuing to gain value in this seller’s market.

Seller subsidy, also known as closing cost cost assistance from seller to buyer, is another column that shows seller favored trends in the more recent sales. Both the six month average seller subsidy and the six month median seller subsidy are lower than their twelve month counterparts. In particular, I am loving the six month median $1,500 seller subsidy. This value means that of the Ryan home sellers in the last six months, more than half of them gave $1,500 or less. That’s another product of the intense buyer demand and scarce inventory we are facing.

Days on market shows us how long it took Ryan homes to go under contract. The six month average marketing time is nearly two weeks faster than the twelve month average marketing time. Better yet, both the six and twelve month median marketing times are in agreement at four days. This means that in both time periods, more than half of Ryan home sellers were under contract in four days or less.

If you placed your Ryan home on the market, priced to current conditions in Braemar, you could expect it to be under contract in less than one week. You could also expect to give very little in seller subsidy.

The next Braemar Property Value Report will be out in January. Until then, I wish you all the best this holiday season. Of course, if the need arises to sell your Braemar home, don’t hesitate to reach out. Our year end market is a very powerful time to sell. You may find waiting until spring to list unnecessary. Get in touch and I’ll be happy to show the benefits of listing in each market and we’ll figure out what works best 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: September-October (Arista Series)

Posted on November 8, 2020 by cacleland

Braemar Property Value Report: September-October (Arista Series)

It’s a gorgeous autumn day in Braemar. The sun is streaming through the trees, becoming more and more bare with each passing day. It’s one of those days where you may opt for air conditioning during the day, but will need the heat at night. The change from warm to cold doesn’t happen all at once.

The kind of change monitored here in the Braemar Property Value Report is changes in the real estate market. In this particular report, the focus in on the Arista Series homes in Braemar, which are the largest of the single family homes built by Brookfield Homes in our neighborhood. Their floor plans are the Allister, Buckingham and Canterbury.

Looking back at the last two months of Arista home sales, we find only one that closed between September and October. The details of that sale are found below:

Obviously, no trend can be determined by looking at one sale, or even a handful. That’s why I take this sale and combine it with the entire past twelve months of Arista home sales and pull out the six and twelve month average and median values. That’s where we find trends.

Looking first at the sold price column, we see that the six month average sold price has fallen ever so slightly below the twelve month average. Meanwhile, the six month median sold price is exactly the same as the twelve month median sold price. No increase by leaps and bounds in the Arista homes. Values are stable.

Seller subsidy is where we get to find out how much closing cost assistance sellers gave to buyers. The bad news for would-be Arista home sellers is that we see increases in both six month values over their respective twelve month values. That means, despite the most recent sale where no seller subsidy was given, Braemar Arista home sellers have been giving more closing cost help in the more recent sales as a whole.

Marketing time, marked above as days on market, shows very little change. The six month average marketing time is exactly the same as the twelve month marketing time. The six month median marketing time improved by one day from an already low six days in the twelve month median. Braemar Arista homes are selling quite quickly.

If you placed your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contact in about two weeks, if not in under one week. You could also expect to give an average of 1% of the sales price, maybe less, in closing cost help.

The next Braemar Property Value Report will be out in January. Then, we’ll be able to see how we finished up the year. Despite popular opinion, the year end market is a very powerful one in which to list. If the time has come to sell, don’t feel you have to wait until spring. Get in touch with me for a free market analysis and discussion on what a year sale could mean for you. Since 2005, No One Knows Braemar Better!

Selling Braemar

Braemar Real Estate Information Courtesy of Chris Ann Cleland, Associate Broker, Long & Foster Real Estate

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