Braemar Property Values: March-April 2013 (Courtyard Series)
It is hard to concentrate on a beautiful spring day with the sun shining in my office window. I'll take the sun over the rain any day. And despite the way that sun is winking at me, I am here to bring you the latest real estate activity for Braemar Courtyard homes from the months of March and April. In case you are unfamiliar, a Braemar Courtyard home is one of three different models that share a private courtyard driveway and have very small yards. Models include the Arlington, Ballston and Clarendon.
There was only one sale of a Braemar Courtyard home during the months of March and April. If you've been following this report for any length of time, you know that one sale is not unusual given the small number of Courtyard homes in Braemar. In fact, one sale is better than none, which is often what we see. This particular sale was a three bedroom, two and a half bathroom Ballston model for $315,000. That sold price was $16,000 above its asking price. With only one sold price, we simply make that our new average market value for Braemar Courtyard homes. Unfortunately, that new value is nearly a 5% decrease since last report and a 5.5% decrease since last year. None of this should have a Braemar Courtyard home owner distressed. I have seen some of the upcoming Courtyard home sales. As we've found through tracking values since 2005, more than any type of Braemar home, these Courtyard values fluctuate a lot.
If you placed your Braemar Courtyard home on the market, priced to current market conditions, you could expect it to be under contract in about one month. You could also expect a buyer to ask for an average of 3% of the sales price in closing cost help.
The next Braemar Property Value Report will be out in July and will detail sales from May and June. Until then, if you are thinking of selling your Braemar home, give me a call for a free market analysis. I've been a Braemar resident and full-time Bristow Real Estate Agent since 2005. In 2007, I added the distinction of being a Short Sale Agent to my resume. No matter what your equity position, I can get your Braemar home sold as fast as possible, and for the most amount of money. And 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 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)
Heritage Series (mid-sized single family homes, Brookfield Homes)
Townhouse Report (traditional townhouses with small back yards)
Condo Quarterly (townhouse style condos)