Two more months of resales in Braemar's townhouse inventory has given us the opportunity to examine average sales price for the final two months of 2008. Townhouse sales in this Braemar Tonwhouse Report, as always, are divided into two categories: No Garage and Garage.
No Garage Townhouses had five resales in November and December. The average sales price dipped slightly to $203,297. That's down from $207,250 last report (September-October 2008). That's less than a 2% drop in average sales price in two months. Not bad considering the last drop was over 12% last report. Seller subsidy (closing assistance from seller to buyer) has gone down from $3,000 to $2,682. Unfortunately, the number of days it is taking to sell one of these townhouses has gone up from 75days last report, to 104 this report.
Garage Townhouses saw more action this report with nine resales, and actually increased in average sales price. Average sales price is now $237,867, up from $227,111 last report. And seller subsidy has gone down from $5,616 last report, to $4,510 this report. And the average number of days on the market has remained in the same ballpark. It took an average of 81 days to sell one of these townhouses last report, to 87 days this report.
Overall, both of these categories of townhomes are doing better than Prince William County townhouses as a whole. Townhouse values in the County at large have dropped 43% from November 2007-November 2008. The drops for No Garage Townhouses and Garage Townhouses in Braemar, year to year, is 26% and 19% respectively.
You can see historical averages dating back to 2006 on my website: www.nvarealestate.net. Click the link for Braemar Townhouse Report Online. Averages will be divided by garage, just as they are here. The displays will look like this:
If you would like to receive a hard copy of the Braemar Townhouse Report, please call or email to sign up.
Thinking of selling your Braemar Townhouse? Give me a call for a free, customized market analysis of your home's value. No one knows Braemar better!
Chris Ann Cleland, Long & Foster, 703-402-0037, email@example.com
I am a licensed Realtor in Virginia, GRI and Short Sale Specialist.
Chris Ann Cleland, Associate Broker- Licensed in Virginia, GRI, SFR, Northern Virginia Short Sale Specialist. Affiliated with Long & Foster, 7526 Limestone Drive, Gainesville, VA 20155. To contact Chris Ann, call 703-402-0037 or email chrisann@LNF.com. Or you can visit her website: www.nvarealestate.net.
Header photos taken by Chris Ann Cleland.
The opinions expressed in this post are those of Chris Ann Cleland, not those of Long & Foster REALTORS®.