Spring has officially begun in the Braemar real estate market. With January and February behind us, let's take a look back at the resale activity for Braemar homes in the Courtyard Series. For those who are unfamiliar with Braemar Courtyard homes, they are characterized by their near zero lot line lots and five homes clustered around a private courtyard driveway. The models of Courtyard homes include the Arlington, Ballston & Clarendon.
In the first two months of 2012, there was one resale of a Braemar Courtyard home. And for anyone who follows this report, you'll appreciate that there was at least one sale to report. Many are the reporting periods where we have nothing to report. This time around, a Ballston sold in January. It's sales price of $320,700 becomes our new average property value, That's about a 3% decrease since last report and nearly a 10% decrease since the first two months of 2011.
If you placed your Braemar Courtyard home on the market, priced to current market conditions, this report sets the expectation that your home would be under contract in an average of just under two months. And the market being a bit competitive, you may not have to assist a buyer with closing costs at all.
The next Braemar Property Value Report will be out in May and will detail sales from the months of March and April. Until then, if you are thinking of selling your Courtyard home give me a call. I've been a full-time Bristow real estate agent and Braemar resident since 2005 I've also been a Short Sale Agent since 2007. No matter what your equity position I can get your Braemar home sold as quickly as possible and for the maximum dollar amount. Remember, 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)
Heritage Series (mid-sized single family homes, Brookfield Homes)
Braemar Townhouse Report (no garage and garage townhouses)
Condo Quarterly (condos known as Barrhill at Inverness Village)