Braemar Condo Quarterly: July-September 2013
The chill of fall is in the air and the leaves in Braemar are changing into their autumn colors. We have hit the beginning of the fourth quarter of 2013. This is the time when we look back to the third quarter of 2013 and see what happened in the Braemar condo market.
As of today, October 3, 2013, there is Braemar condo on the market priced at $250,000. There are also two Braemar condos under contract with list prices at $239,950 and $243,900. That's what is happening NOW. But what happened between July and September?
Just like the second quarter report of 2013 (last report) and the third quarter report for 2012 (last year), there were two sales of Braemar condos. The high sales price was nearly 4% higher than it had been last report and nearly 37% higher than it had been last year. The low sales price was nearly 11% higher than last report and over 36% higher than it had been last year. It is also important to note that two Braemar condos were listed and withdrawn from the market, both regular sales.
When it comes to averages, the average sales price of a Braemar condo was nearly 11% higher than it was last report and close to 38% higher than it had been last year. That is tremendous improvement and great news to Braemar condo owners.
If you placed your Braemar condo on the market, priced to current market conditions, this report indicates that your condo would be under contract in an average of four days. That 83% faster than it would have gone under contract last report and 67% faster than it would have gone under contract last year. You could also expect a buyer to ask for an average of about 1.5% of the sales price in closing cost help.
The next Braemar Condo Quarterly will be out in January. Until then, I wish you all a happy holiday season. And if you are contemplating the sale of your Braemar condo, call me for a free market analysis of your specific condo's value. I've been a full-time real estate agent and Braemar resident since 2005. I've also been a Braemar Short Sale Agent since 2007. No matter what your equity position, I can get you the most amount of money for your Braemar condo in the shortest amount 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.)