Braemar Townhouse Report: September-October 2011
Things are a lot quieter these days around the Braemar townhouses surrounding the Rob Roy pool. The pool season ended on Labor Day and cooler temperatures means less action on the playgrounds. Autumn doesn't mean a slow down in the Braemar townhouse market though. Let's take a look back at sales of Braemar townhouses in this edition of the Braemar Townhouse Report. As always, the sales are divided into two categories: No Garage and Garage.
Braemar Townhouses with No Garage saw only two sales in the previous two months. A high sold price of $225,000 and a low sold price of $220,000. Their average gives us a new average market value of $222,500 for Braemar Townhouse with No Garage. That's over a 9% decrease since last report and over a 5% decrease since this time last year.
If you placed your Braemar Townhouse with No Garage on the market, priced to current market conditions, you could expect your home to be under contract in about two months. You could also expect a buyer to request an average of about 2.5% of the sales price in closing cost help.
Braemar Garage Townhouses, on the other hand, saw six sales in the previous two months. The high sold price was $274,900; the low sold price was $229,000. The average of all six sales gives us a new average market value of $253,317 for Braemar Garage Townhouses. This is not a measurable change since last report or this time last year. That mean the Braemar Garage Townhouses have been steady in their values for one year. Not bad news.
If you placed your Braemar Garage Townhouse on the market, priced to current market conditions, you could expect it to be under contract in about two weeks. You could also expect a buyer to ask for an average of 3% of the sales price in closing cost assistance.
The next Braemar Townhouse Report will be out in January and will detail sales during the months of November and December. 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®
Statistics compiled by Chris Ann Cleland using the MRIS (Metropolitan Regional Information System)
You can see the most recent property values in Braemar by clicking the links below:
Arista Series (large single family homes built by Brookfield Homes)
Carriage Series (smaller single family homes with detached garages, Brookfield Homes)
Courtyard Series (executive style homes, five to a private driveway, Brookfield Homes)
Heritage Series (mid-sized single family homes, Brookfield Homes)
Condo Quarterly (condos known as Barrhill at Inverness Village)