Braemar Townhouse Report: September-October 2010

By
Real Estate Agent with Long and Foster Real Estate VA License # 0225089470

The last two months of the year are here.  So with September and October behind us, we can take a look back to resales of Braemar townhouses during those months to determine our average market value in this Braemar Townhouse Report.  You will find that resales are divided into two categories:  Garage and No Garage

Townhouses with No Garage had only one resale the last two months.  That makes the average, the sales price of that one sale.  So the new average market value for a Braemar Townhouse with No Garage is $234,500.  That's nearly an 8% increase since last report, and over a 10% increase since last year.

If you placed your Braemar Townhouse with No Garage on the market and priced it to current market conditions, you could expect your home to be under contract in less than one month.  You may also find yourself in the position of NOT having to pay a buyer's closing costs.  Of course, this is based on one sale, so it's hard to say for sure what a buyer may or may not ask for.

More reliable averages come from the Garage Townhouses in Braemar who saw five resales in the last two months.  This brings the average market value for a Braemar Garage Townhouse to $254,180.  That's almost a 1% increase since last report and over an 18% increase since last year.

If your placed your Braemar Garage Townhouse on the market and priced it to current market conditions, you could expect your home to be under contract in a little over two weeks.  You could also expect a buyer to ask for an average of 3% of the sales price in closing cost assitance.

The next Braemar Townhouse Report will be published in January.  Until then, enjoy your holiday season.  And as always, if you are interested in taking a look at historical averages, you can log onto www.nvarealestate.net and click the link for the Braemar Townhouse Report Online to see average market values to the beginning of 2006. 

If you find yourself, or someone you know, needing to sell their Braemar Townhouse before the end of the year, please don't hesitate to call.  You can make the most of the year end market with a true neighborhood expert.   No one knows Braemar better!

Chris Ann Cleland, Long & Foster, Realtor-Licensed in Virginia, Short Sale Specialist

703-402-0037, chrisann@LNF.com

 

Comments (4)

Anne Clark
Metro Referrals - Gainesville, VA

Wow!  The owners of the townhouses without garages are loving this news.  And it's not bad for the townhouses with garages. They've seen a healthy increase in a year's time.

Nov 11, 2010 11:38 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Anne:  I would hope so.  After too many months of bad news and slow increases, this is a nice report to get.

Nov 11, 2010 11:52 AM
Anne Clark
Metro Referrals - Gainesville, VA

And hopefully, the next Braemar townhouse report will bring even better news.  Starting the new year with even slightly higher numbers would be fantastic.

Nov 13, 2010 03:22 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Anne:  I'm hoping for the same thing.  Our Braemar home owners deserve some good news to start 2011.

Nov 13, 2010 04:11 AM