Summer is here and Braemar residents are having fun in the sun. There's no doubt our two Braemar swimming poolsare seeing tons of activity. So is our real estate market. With May and June behind us, let's take a look at the resale market of Braemar Carriage homes.
There are four models of Carriage homes in Braemar and they include, from smallest to largest: the Maplewood, Norwood, Oakdale and Parkdale. These homes are most notably distinguished by their lack of attached garage. Some homes have a detached garage in the rear of the home, others do not. At the time of construction, garages were an option, therefore an additional expense.
During May and June, there were seven Braemar Carriage home sales. And in those seven homes, there's nearly two of every model, except for one Maplewood sale. The average of their sales prices gives us our new average market value for a Braemar Carriage home of $311,629. That's down over 4% since last report (March-April 2011), but down slightly over 2% since this time last year.
If you placed your Braemar Carriage home on the market, priced to current market conditions, you could expect your home to be under contract in less than one month's time. That's an improvement since the nearly one a half months wait we saw last report. You could also expect a buyer to ask for an average of slight more than 1/2% of the sales price in closing cost help.
The demand for Braemar Carriage homes has always been high, despite the stumbles in market value. So if you are considering placing your Braemar Carriage home on the market, call me for a specific market analysis of your particular home's value.
As a full time Bristow real estate agent since 2005 and a Short SaleSpecialist since 2007, I can help you sell you Braemar Carriage home no matter your equity position. And remember, no one knows Braemar better!
Chris Ann Cleland, Associate Broker-Licensed in Virginia, Long & Foster REALTORS®
Other Braemar Property Value Reports for the time period of May-June 2011:
Arista Series (large single family homes built by Brookfield Homes)
Courtyard Series (executive style homes, five to a private entrance, built by Brookfield Homes)
Heritage Series (mid-sized single family homes built by Brookfield Homes)
Townhouse Report (townhouses separated into garage and no garage categories)
Condo Quarterly (condos known as Barrhill at Inverness Village)