Bramear Property Values are something I calculate every two months for the various types of homes in our community of Braemar. The Courtyard Series homes have me scratching my head for the second straight reporting period.
What's a Courtyard home? A Courtyard homes is one with nearly a zero lot line. They are five to a pipe stem, fully detached homes and have two car garges. Often referred to as "executive" homes, as they are ideal for folks that have no time, or want, for yard work. Courtyard homes come in three models: Arlington, Clarendon and Ballston.
As was the case last report (March-April 2010), there were no resales in the Courtyard Series this report. That leaves little for a Courtyard home owner to look to when trying to determine average market value.
I think the best wisdom until we have a closed sale for the Courtyard Series, is to look back the last recorded average sales price, which was for the period January-Feberuary 2010. That average sales price was $300,000.
There are pending sales in the Courtyard Series, but they are not closing in the time period anticipated. Hopefully, by next report, we'll have a better idea of where property values are headed.
The next Braemar Property Value Report will be out in September. Until then, I hope you take full advantage of Braemar's two pools to cool you off during the rest of the summer. And if you are interested in looking at average sale prices dating back to May/June 2005, visit my website: www.nvarealestate.net. Click the link on the left for Braemar Property Value Report Online and scroll down until you see the heading Courtyard Series.
If you'd like to put your Arlington, Ballston or Clarendon home on the market, or are looking to buy one, give me a call. No one knows Braemar better!
Chris Ann Cleland, Realtor, Licensed in VA, Long & Foster