Braemar Piggyback & Patio Quarterly: October-December 2014
Six more weeks of winter doesn't seem to be keeping the Bristow area buyers inside. They are out and finding a shortage of homes to buy. Now would be a great time to your Braemar Piggyback or Patio on the market, and beat the rest of Braemar sellers to the spring market.
For clarification, Braemar Piggyback Townhouses are attached side-to-side and back-to-back. While they do not offer back yards, they offer large bedrooms and a two car garage. Braemar Patio Homes are also known as quads. Each is attached at the side, back and corner to another Patio Home. They have two levels, also offering large bedrooms and a modest side yard.
Right now, let's take a look back at the Piggyback and Patio home resale activity for the fourth quarter of 2014. We'll start with the Piggyback townhouses.
There were no sales of Piggyback townhouses in Braemar in last three months of 2014. However, there were two that were on the market. One listed for $250,000 and the other for $274,950. The fact that there have been townhouses of this style listed since the third quarter of 2014 and none picked up in six to seven months is a definitely concerning. Hopefully, we'll have a sale to report when we wrap up the first quarter of 2015.
When it came to Patio home sales, there was only slightly better news. There was one sale. It was a home that had listed for $309,900 and sold for $297,500. Using that $297,500 as a placeholder for the average market value for the fourth quarter of 2014, values were down 4% since the third quarter of 2014.
If you placed your Patio home on the market, priced to current conditions, you could expect it to be under contract in less than one week, if we use that one sale from December as our guide. And using that same sale, if you were as fortunate as that seller, you wouldn't have to pay any closing cost assistance to the buyer.
The next Braemar Piggyback & Patio Quarterly will cover the first quarter of 2015 and will be out in April. Until then, when you are ready to sell your Braemar home, 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.)