Braemar Condo Quarterly: July-September 2014
It is a pleasure to finally see the fall colors popping as I drive through Braemar. It seems today was actually the first day they felt vivid. The coming of the fourth quarter of the year means it is time for us to look back and see what has happened in the Braemar condo market. Braemar condos look like townhouses, but are condo ownership. They are located on one of four streets in the community: Caithness, Lord Lovat, Moxleys Ford and Heykens. If you are buying a townhouse on one of these streets, you are buying a condo.
At the end of September, there was one Braemar condo under contract. They weren't and still aren't any condos in Braemar for sale as of the time of this post. During the third quarter, there were two Braemar condo sales. That's the same number of sales as we saw in the third quarter of 2013 and one more than we saw in the second quarter of 2014. The average sales price is now $240,000. That marks a decrease of 2% in value since last report and a decrease of a little over 1% since last year.
If you placed your Braemar condo on the market, priced to current market conditions, you could expect it to take an average of 52 days to go under contract. You could also expect that a buyer may not ask for closing cost help. Neither sale this report asked for closing cost assistance.
The next Braemar Condo Quarterly will cover the fourth quarter of 2014 and will be out in January. Until then, I hope you enjoy the upcoming holiday season. Of course, if you are thinking of selling your Braemar condo, call me for a free market analysis. No One Knows Braemar Better!
And if you haven't already, please join my Braemar Facebook group. You can find links to these reports and be involved in all kinds of neighborhood conversations.
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 back yards)
Piggyback & Patio Quarterly (back to back townhouses and quad homes)