Braemar Reflection Quarterly: April-June 2020 (2nd Quarter)
It is time for another Braemar Reflection Quarterly, featuring sales of homes on Tarvie Circle that are semi-detached. What does that mean? This single family homes with rear load garages are attached to one neighbor only at the garage.
During our current reporting period, which includes the months of April, May and June, there were no Reflection homes that sold. However, that doesn’t mean we can’t get a peek at our updated six and twelve month data points.
The six month average and median sold price is based on one sale in March. That value is below both the twelve month average and twelve month median sold prices. Not enough to say that Reflection home values are waning for sure. We’ll need more data. What I can tell you is that our Braemar marketplace has record high demand at the moment and any home priced right and in good condition is flying off the shelves.
When it comes to seller subsidy, the sale making up our six month values gave none. That’s definitely what I am seeing more and more in our market. I suspect this is something we will continue to see in most price ranges, with the exception of entry level homes.
Days on market was lower in the one sale making our six month average and median values. Only five days to go under contract. That is certainly in line with what I would expect right now.
If you placed your Braemar Reflection home on the market, priced to current conditions, you could expect it would be under contract in a week or less. You could also expect that you would not have to pay a buyer’s closing costs.
The next Braemar Reflection Quarterly will be out in October. Until then, if the sale of your Braemar home is on the horizon, give me a call for the most accurate market analysis. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate