Braemar Condo Quarterly: October-December 2013
As I write this Braemar condo report, the remnants of what was supposed to be a snow storm, producing eight inches of snow, is fizzling out in Bristow, VA. In the end, it will have left us with maybe three inches of snow. Just goes to show that predictions have a degree of uncertainty.
Based on the Braemar Condo Quarterly for the third quarter of 2013, I would have thought that values would continue to rise for Braemar condos. Well, that is not what happened. In the fourth quarter of 2013 there were three Braemar condos that sold. The high sold price was $240,000 and the low was $227,000. Both were lower than the high and low in the third quarter. The average sold price for the fourth quarter was $232,000, down 4.5% since last report.
If you placed your Braemar condo on the market, priced to current market conditions, this report indicates you could expect it to be under contract in a little over two months. You could also expect a buyer to ask for an average of 2% of the sales price in closing cost help. Marketing time and seller subsidy have both gone in the wrong directions since last report.
The next Braemar Condo Quarterly will be out in April and will detail the activity of the first quarter of 2014. Until then, 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.)
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)
NV Homes (single family homes built by NV Homes)
Ryan Homes (single family homes built by Ryan Homes)
Townhouse Report (traditional townhouses with small back yards)