Braemar Patio Quarterly: October-December 2020 (4th Quarter)

Braemar Patio Quarterly: October-December 2020 (4th Quarter

Thank goodness the sun is shining today. Too many overcast, gloomy days and my energy is zonked. Instead, I’m alert and productive at my computer doing yet another Braemar real estate market report. Today’s installment is the Braemar Patio Quarterly, detailing the fourth quarter sales of the two level, quad style attached homes in our neighboood.

There were four Braemar Patio homes that sold in the fourth quarter. The details of those sales are listed below:

It’s nice to have a combination of main level bedroom models and ones that are all upper level bedrooms in this list. Immediately the first thing you notice is that the sold prices march up as you go down the column. You also notice not one sale gave seller subsidy (closing cost help to buyer) and single digit days on market. Of course, adding these fourth quarter sales in with the previous three quarters worth of Braemar Patio home sales for 2020, we have an entire year’s worth of data that gives us the best indicator as to what has been happening in the market.

Starting with the sold price column, we see healthy increases in both six month values compared to their respective twelve month values. This means that Braemar Patio homes are continuing to increase in value. No surprise given the intense buyer demand and limited inventory our market has been facing.

When it comes to seller subsidy, the six month average value has decreased by more than half compared to the twelve month value. More imporantly, both the six month and twelve median values are at zero. In both time frames, that means that more than half the Braemar Patio home sellers gave no seller subsidy. Another result of buyers having to compete for limited inventory.

Finally, days on market reveals a major decrease in marketing time from the twelve month average to the six month average. The six and twelve month median values are both in single digits, letting us know that more than half the sales in each time period happened quickly.

If you placed your Braemar Patio home on the market, priced to current conditions, you could expect it would be under contract in less than a week, and likely, with multiple offers. You could also expect to get away with not having to give any seller subsidy.

The next Braemar Patio Quarterly will be out in April. Until then, when the time comes for you to sell your Braemar home, get in touch with me for the most comprehensive and accurate market analysis. Since 2005, No One Knows Braemar Better!

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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 Patio Quarterly: October-December 2019 (4th Quarter)

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

Happy New Year!  Hope our limited snowfall yesterday didn’t impact you in any negative way.  It was just enough to give us a white covering on the ground.  And roads in the community are mostly cleared up.  What I love about the day after a snowfall is how bright the surroundings are with the sun reflecting off the blanket of white.  After too many gloomy winter days, it is nice to have a lot of sunshine bouncing off that snow.

Today I bring you the Braemar Patio Quarterly property report.  It focuses on sales of Braemar Patio homes in the fourth quarter of 2019.  And if you aren’t familiar with what a Braemar Patio home is, they are the two level, one car garage, quad style townhouses in the neighborhood.  There are two floor plan styles, one of which boasts a main level master and main level full bathroom.  The Braemar Patio homes that sold between October and December 2019 are listed below:

As you can see, there were four Braemar Patio homes that sold during the fourth quarter.  The sold prices range from $318,600 to $364,900 and not of the homes had the coveted main level master bedroom/bathroom.  Seems condition and upgrades are the primary indicators of value here.

Taking these fourth quarter sales and combining them with the sales that occurred in the entire calendar year of 2019, we get updated six and twelve month data points.  

Starting with the sold price column, we see the six month average sold price is slightly higher than the twelve month average sold price.  Not an impressive leap in value, but upward movement in the short term nonetheless.  Meanwhile, we see stability in noting the six month median sold price is exactly the same as the twelve month median sold price.  Values of Braemar Patio homes are, at worst, remaining stable in value.

The seller subsidy column is where we see the closing cost assistance values.  Both the six month average and six month median seller subsidy figures are higher than their respective twelve month figures.  This means Braemar Patio home buyers on the whole, have been asking for and receiving, more closing cost help from sellers in the more recent past.

When it comes to days on market, or as I like to call it–marketing time, we see different trends.  The six month average marketing time is one day shorter than the twelve month average marketing time.  Meanwhile, the six month median marketing time is nearly an entire week longer than the twelve month median marketing time.  At worst, it is beginning to take more time to sell a Braemar Patio home.

Taken as a whole, these market indicators could be showing an easing up in the high demand our market has been enjoying.  Of course, only time will tell .

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

The next Braemar Patio Quarterly will be out in April and will give us a read on our first quarter’s activity for 2020.  Until then, when the time comes for you to sell your Braemar home, give me a call.  Getting the most amount of money in a sale for Braemar home owners 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