It's time for another Braemar Property Value Report for the Courtyard Series homes built by Brookfield. These courtyard homes are near zero lot line homes...five to a single pipe stem or driveway. They include the Clarendon, Ballston & Arlington models.
The averages for this report are based on one resale in March and April 2009; a Ballston model.
The average sale price went up significantly to $325,000. That's up from $235,000 last report (January-February 2009.) There was an average of $10,000 seller subsidy(closing cost assistance from seller to buyer) this sale, which is a night and day difference to the lack of seller subsidy last report. The good news is that the average number of days it is taking to sell these homes decreased again to 29 days, down from 44 days last report. We'll have to keep on eye on sales prices and seller subsidy as the Spring market develops. This is a stark increase and only time will tell if property values settle in this range, higher or lower.
You can find historical, average sale prices for Braemar's Courtyard Homes on my website: www.nvarealestate.net. Simply click the link on the left titled Braemar Property Value Report Online and scroll down to the Courtyard Series. There you will find average sale values dating back to May and June 2005. The page will look like this:
I prepare the Braemar Property Value Report in a hard copy format every other month. If you, or a neighbor, would like to receive it in the mail, please contact me. In the meantime, if you need to sell your Braemar home, or know someone that is looking to buy in our community, please don't hesitate to call. No one knows Braemar better!
Chris Ann Cleland, Long & Foster, Realtor (licensed in VA), GRI, Short Sale Specialist
703-402-0037, chrisann@lnf.com
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