With the turn of the New Year to 2011, it is time to take a look back at resale activity for the final two months of 2010 with regard to townhouses in Braemar. Sales for Novebmer and December will be compared to last report's figures (September-October 2010.) You will find that resales are divided into two categories: Garage and No Garage.
Townhouses with No Garage saw no resales during November and December. That means we'll have to wait a couple more months for the most recent comparables. Until then, we can rely on statistics from last report.
Garage Townhouses in Braeamr saw four resales during the holiday months. That brings the average sales price to $235,500. That's down 7.3% from last report, but up 6.4% since the same reporting period in 2009.
If you needed to sell your Braemar Garage Townhouse, and priced it to current market conditions, this report tells us that you could expect your property to be under contract in three weeks time. You could also expect to pay an average of 1% of the sales price in closing cost assistance (seller subsidy) to the buyer.
The next Braemar Townhouse Report will be published in March. Until then, 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 REALTORS®, Associate Broker-Licensed in Virginia, Short Sale Specialist