Braemar Property Values: November-December 2013 (Carriage Series)
It would be great to be the person that delivers good news about the Braemar real estate market all the time. Unfortunately, in the real estate industry, good news is not always what is on tap. That being said, the bad news is not necessarily as bad as may initially think.
What am I getting at? Well, it's time for another Braemar Property Value Report, which looks at sales of Braemar Carriage homes over the last two months. In this report, we're focused on the last two months of 2013. And to clarify what a Braemar Carriage home is: Braemar Carriage homes are characterized by the lack of attached garage. Rather, it has a detached garage, if it has one at all. Not all Carriage home buyers opted for the garage and instead, have a paved parking area in the rear of their home. The models, from smallest to largest, include the Maplewood, Norwood, Oakdale and Parkdale.
The news for Braemar Carriage homes this report is not great. There were three resales of Carriage homes in the last two months of 2013. The low sold price was $349,000. The high sold price was $353,000. Only one of the homes that sold was a four bedroom on the upper level floor plan---an Oakdale. The average of all three sales gives us our new average market value of Braemar Carriage homes--$350,666. Unfortunately that average market value represents just over a 3.5% decrease since last report. The good news is that, compared to last year, it is nearly a 2% increase in average value. So it isn't all bad news. And having a Braemar Carriage home slated to settle on January 31st, I do have a sneak peek at what the future holds. The next report will bring better news.
If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect it to be under contract in just under two weeks. You could also expect to pay buyer closing costs averaging 1/2% of the sales price. Not bad. I remember when the average seller subsidy was 1 1/2% of the sales price.
The next Braemar Property Value Report will be out in March and will detail sales from the first two months of 2014. Until then, if you are thinking of selling your Braemar Carriage home, give me a call for a free market analysis of your specific home's value. 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. No matter what your equity position, I can get your Braemar home sold for the maximum amount of money in the shortest period of time. And most importantly...No One Knows Braemar Better!
And if you want to be a member of a neighborhood Facebook group that will always allow links to these reports, please join my new Braemar Facebook group. You can start any neighborhood conversation you like to there, be it promoting your own local business or just chatting about neighborhood events.
Chris Ann Cleland, Associate Broker-Licensed in VA, 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)
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)
Condo Quarterly (townhouse style condos)