Braemar Townhouse Report: July-August 2011

By
Real Estate Agent with Long and Foster REALTORS®, Gainesville, VA VA License # 0225089470

Braemar Townhouse Report:  July-August 2011

Like it or not, Braemar residents are seeing the beginning of the fall season.  The kids are back in school, the pools are closed and there is a chill in the air.  It won't be long before the leaves turn shades of gold, red and orange.  I for one love fall, but there's something else I love more.  Rising property values in Braemar. 

Let's take a look back at the Braemar townhouse market for the last two months of summer.  You're going to like what you see.  As always, Braemar townhouses are divided into two categories for the purposes of this report:  Townhouses with No Garage and Garage Townhouses.

Bramear Townhouses with No Garage saw only one resale during the months of July and August.  That sales price of $245,000 now becomes the average market value for the No Garage Townhouses.  This means a 21% increase since last report (May-June 2011) and over a 12.5% increase in value since the same reporting period last year.

If you placed your Braemar Townhouse with No Garage on the market, priced to current market conditions, you could expect your townhouse to be under contract in about one month.  You could also expect a buyer to ask for an average of about 2% of the sales price in closing cost help.

The demand seems to be for Braemar Garage Townhouses.  These homes saw seven resales during the months of July and August.  The average of those seven sales prices gives us our new average market value for Braemar Garage Townhouses of $252,986.  That's over a 13% increase since last report and a nearly a 1/2% increase since last year.

If you placed your Braemar Garage Townhouse on the market, priced to current market conditions, you could expect to have it under contract in a little over two weeks.  You could also expect a buyer to request an average of over 1.5% of the sales price in closing cost assistance.

The next Braemar Townhouse Report will be out in November and will take into account sales during the months of September and October.  Until then, if you are thinking of selling your Braemar townhouse, I'd be happy to give you an estimate of your home's specific value in the market.  No matter your equity position I can help.  I've been a full-time Bristow real estate agent and Braemar resident since 2005, and a Short Sale Agent since 2007.  No one knows Braemar better!

Chris Ann Cleland, Associate Broker-Licensed in Virginia, Long & Foster REALTORS®

703-402-0037, ChrisAnn@LNF.com, www.NVARealEstate.net, www.SellingBraemar.com

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Other Braemar Property Value posts for the period of July-August 2011:

Arista Series (large single family homes built by Brookfield Homes)

Carriage Series (smaller single family homes with detached garages, 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)

Condo Quarterly (condos known as Barrhill at Inverness Village)

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Rainmaker
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Anne Clark
Metro Referrals - Gainesville, VA

Seems like great news all around for Braemar townhouse owners.  What do you attribute the lack of sales of townhouses without garages to?

Sep 21, 2011 05:40 AM #1
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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Anne:  The demand for Braemar townhouses flips back and forth between those without garages...since they have more square footage, and the garage for the convenience of parking and storage.

Sep 21, 2011 06:31 AM #2
Rainmaker
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hi Chris Anne, Good to know what is going on with Braemar Townhouses.   Have a great day!

Sep 21, 2011 07:14 AM #3
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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Will:  And with interest rates down below 5%, Braemar townhouses are just as affordable as they have ever been.

Sep 21, 2011 08:15 AM #4
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Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Chris Ann - Great real estate market report for Braemar Townhomes.  The average days on market is amazing.

Sep 21, 2011 09:08 AM #5
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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Michelle:  Our Braemar neighborhood real estate market is doing quite well, as is the surrounding Bristow, VA market.

Sep 21, 2011 09:44 AM #6
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Donna Harris
Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com - Austin, TX
Realtor,Mediator,Ombudsman,Property Tax Arbitrator

Great report! Easy to read and understand. It looks like people like garages!

Sep 28, 2011 07:10 AM #7
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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Donna:  And last year it was the No Garage that was preferred.  It swings back and forth.

Sep 29, 2011 09:38 AM #8
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Chris Ann Cleland

Associate Broker, Bristow, VA
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