Braemar Reflection Quarterly: July-September 2021 (3rd Quarter)
The time has come for another Braemar Reflection Quarterly. This is the Braemar market report for the semi-attached homes located only on Tarvie Circle in our neighborhood. These homes are unique in that they are only attached at the rear load garage to one neighboring home. In this edition we look back on the third quarter of 2021 to see what happened in the zReflection market.
Between the months of July, August and September, there was only one Braemar Reflection home that sold. Not unusual for only one sale of these homes in a three month span. That’s why this is only a quarterly report. The details of the third quarter sale for 2021 are listed below:
The sold price of $640,000 is certainly the highest we have seen in the last year of Reflection homes. The one sale from the second quarter was just over the $600K mark. We are well into the six hundreds with this one.
Taking the past year’s worth of Braemar Reflection home sales and parsing them down to six and twelve month data points, this is the result:
The six month average and six month median sold prices are identical. Nonetheless, they are both way above their respective twelve month values. The growth rate in the six month average sold price this report is 12%. The six month median sold price growth this report is even higher at 14%. Compared to the second quarter’s average growth rate of 15% and the median growth of 23%, these third quarter growth rates are lower. While we are still in a seller’s market, it seems the all out buyer frenzy has cooled a bit, but not ended.
Now to the seller subsidy column where we learn how much closing cost assistance Braemar Reflection home buyers were able to negotiate from their sellers. While the most recent sale is none, the six month average and median at $4,000 tells us that last report seller subsidy was a factor. The more telling number are the median values being $4,000 as well tells us that more than half the seller’s in both time frames gave at least $4,000.
When it comes to days on market, the magic number seems to be eight. All values are in agreement at eight days marketing time except the twelve month average of nine days.
If you placed your Braemar Reflection home on the market, priced to current conditions, you could expect it to be under contract in a little over a week. You could also expect you may have to give some seller subsidy.
The next Braemar Reflection Quarterly will be out in the New Year. Until then, when the need or want to sell your Reflection home in Braemar arises, I would love the chance to talk to you about how I help my sellers get maximum profit by increasing buyer enthusiasm. Even in a seller’s market, it matter. My professional marketing combined with my unparalleled knowledge of Braemar never ceases to make my Braemar sellers extremely happy. Since 2005, No One Knows Braemar Better!
Chris Ann Cleland
Associate Broker, Licensed in VA
Long & Foster Real Estate