Braemar Property Values: September-October 2011 (Carriage Series)
Only two more months left in 2011. Where did the time go? More importantly, how's the Braemar Carriage home resale market doing? This Braemar Property Value Report will take a look back at resale of Braemar Carriage homes during the months of September and October and let us know.
For those unfamiliar with Carriage homes in Braemar, they are smaller single family homes with a detached garage, or no garage at all. They include the following floor plans in order from smallest to largest: Maplewood, Norwood, Oakdale & Parkdale.
There were two resales of Braemar Carriage homes in the previous two months. Both were the homes with the smallest, Maplewood, floor plan. Normally, we see very few Maplewoods on our Braemar Property Value Report, so the values are a little skewed. The high sold price was $324,900. Low sold price was $290,000. The average of these two prices gives us our new average market value for Braemar Carriage homes of $307,450. This means a decrease of over 9% since last report (July-August 2011) and over a 7% decrease since last year (September-October 2010.) Again, these are numbers that should not terrify any Braemar Carriage home owner. Normally, Maplewoods do sell for less as they are the smallest of the Braemar Carriage homes. And in reality, these are nice numbers to see for a Maplewood model.
This report indicates that if you placed your Braemar Carriage home on the market, priced to current market conditions, that you could expect it to be under contract in about five months. That number is skewed by the exceptionally high days on market of 222 days and a high 75 days on the other. The reality is that Braemar Carriage homes have always seen high demand and will be under contract quickly when priced well. However, what this report does reliably tell us is that you could expect a buyer to ask for about 1% of the sales price in closing cost assistance.
The next Bramear Property Value Report will be out in January and will detail sales from November and December, so we'll be able to see how we ended the year. Until then, if you are thinking of selling your Braemar Carriage home, get in touch with me for a free analysis of your home's specific value. Braemar Carriage homes are always in demand and I can help you sell yours quickly and for the maximum amount of money.
As a Braemar resident and full-time Bristow real estate agent since 2005, and a Short Sale Agent since 2007, I can help you no matter what your equity position. And remember, no one knows Braemar better!
Chris Ann Cleland, Associate Broker-Licensed in VA, Long & Foster REALTORS®
Statistics compiled by Chris Ann Cleland using the MRIS (Metropolitan Regional Information System)
You can see the most recent property values in Braemar by clicking the links below:
Arista Series (large single family homes built by Brookfield Homes)
Courtyard Series (executive style homes, five to a private driveway, Brookfield Homes)
Heritage Series (mid-sized single family homes, Brookfield Homes)
Braemar Townhouses (garage and no garage townhouses, not including patio homes)
Condo Quarterly (condos known as Barrhill at Inverness Village