Braemar Property Values: September-October 2014 (Courtyard Series)
Predictions for the first snow fall of the season in Bristow are being bantered about. Weather is one of the hardest things to predict more than a few days in advance. There are so many moving parts that affect the outcome. Real estate isn't quite as bad. You can reasonably look to the recent past, look at what's in front of you now and look forward to say what conditions will be like in the coming months. Of course, just like the weather, situations change, inventory for instance, or buyer demand, and that's when the market shifts.
This edition of the Braemar Property Value Report covers the months of September and October to see what has happened with regard to Braemar Courtyard home values. Of course, if you don't know what a Braemar Courtyard home is, it is one of three different floor plans that share a private courtyard driveway and have extremely small outdoor spaces. Models include the Arlington, Clarendon and Ballston.
There were two Braemar Courtyard homes that sold during September and October. Both were Arlington models, giving them premium placement at the entry to the courtyards. The high sold price was $369,000 and the low as $361,950. The average of both sales was $361,950, which is our new average market value for Braemar Courtyard homes. That is nearly an 8% drop in value since last report, but over a 3% increase in value since last year.
If you placed your Braemar Courtyard home on the market, priced to current conditions, this report indicates it would be under contract in an average of just over a week. You could also expect a buyer to ask for an average of under 1% of the sales price in closing cost assistance.
Courtyard homes in Braemar may very well benefit from the lower inventory levels we see in fall and winter. While Courtyard homes show very well through online photos, the lack of yard that many Braemar buyers expect, can lead buyers to choose other homes that offer back yards. So lower inventory levels may make it easier for Braemar Courtyard owners to sell faster and for more money.
The next Braemar Property Value Report will be out in January and will detail sales from
November and December. Until then, enjoy this holiday season. And when you are ready to sell 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. I can get your Braemar home sold as fast as possible, and for the most amount of money. No One Knows Braemar Better!
Feel free to join my neighborhood Facebook group, BRAEMAR (Bristow, VA.) You can start any neighborhood conversation you like to there. I started it as a place to easily spread the information from these property reports, but I love to see neighborhood interaction there. My favorite thing that happens there is reconnecting lost pets with their owners.
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)
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)
Condo Quarterly (townhouse style condos)
Piggyback & Patio Quarterly (back to back townhouses and quad homes)