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Braemar Condo Quarterly: April 2011-June 2011
The second quarter of 2011 is officially behind us and the Braemar community pools are busy entertaining now that school is out. So what happened with Braemar condo resales during the second quarter of 2011?
Well, just like the first quarter of the year, there were only two resales of Braemar condos during the second quarter. One was a Short Sale, the other a Foreclosure. And at the time of this report, there are two Short Sales under contract and one Short Sale active on the Braemar condo market. Clearly, the Braemar condo market is still dominated by Short Sales.
The average sales price of those Braemar condo sales brings the average market value for Braemar condos down to $191,500 from $205,000 last quarter. That's nearly a 7% drop in three months time.
If you placed your Braemar condo on the market, and priced it to current market conditions, this report indicates that you could expect your condo to be under contract in about one month's time. You could also expect a Buyer to ask for an average of about 1.6% of the sales price in closing cost help.
The next Braemar Condo Quarterly will be out in June. Until then, if ... more
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