Braemar Townhouse Report: July-August 2012
There appeared to be a big turn out for yesterday's second annual Braemar Day. And what a great day for it. Blue skies, warm temps...but not too hot. It's always a good thing to see the residents of Braemar come together for an event.
We are officially out of summer, and that gives us the opportunity to look back at the Braemar townhouse market for July and August and see how properties are moving, and if prices are going up, down or staying stable. When reporting sales activity for Braemar townhouses we'll divide sales into two categories: Townhouses with No Garage and Garage Townhouses. We'll make comparisons to last report (May-June 2012) and last year (July-August 2012.)
Let's start with Townhouses with No Garage. This category of Braemar townhouse saw five resales in the months of July and August. The high sold price was $295,000 and the low sold price was $230,000. The average of all five sold prices gives us our new average market value of Braemar Townhouses with No Garage of $251,380 That's over a 10% increase in average value since last report and over a 2.5% increase in average value since last year.
If you placed your Braemar Townhouse with No Garage on the market, priced to current market conditions, you could expect it to be under contract in less than one week. You could also expect a buyer to ask for an average of slightly over 2% of the sales price in closing cost assistance.
There were four resales of Braemar Garage Townhouses in July and August. High sold price was $297.990 and the low sold price was $254,000. The average of all four sold prices gives us our new average market value for Braemar Garage Townhouses of $273,473. That's a 1.5% increase in average value since last report and slightly over an 8% increase in average value since last year.
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 three weeks. You could also expect a buyer to ask for an average of less than 1% of the sales price in closing cost help.
There is definitely strong demand for Braemar Townhouses and values are continuing to improve. If you want to investigate selling your Braemar townhouse, give me a call for a free market analysis of your specific home's value in today's market. I've been a Braemar resident and full-time Bristow Real Estate Agent since 2005. I added the distinction of being a Short Sale Agent in 2007 to my resume. No matter what your equity position, I can get your Braemar townhouse sold for the maximum amount of money, in the shortest period of time. 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 Systems.)
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 home, five to a private driveway, Brookfield Homes)
Heritage Series (mid-sized single family homes, Brookfield Homes)
Condo Quarterly (condos knowns as Barrhill at Inverness Village)