Braemar Townhouse Report: January-February 2015
Having a Braemar townhouse listing during the snow storms, I know how glad all Braemar townhouse owners must be that the snow is behind us. There's nothing quite like spending thirty minutes digging out your car from a common area space and coming back to see someone else enjoying the clear space. Such is life in the winter in a townhouse.
Right now it is time for another Braemar Townhouse Report, looking back at sales during the first two months of year. There were only four sales of Braemar townhouses in January and February, which actually kind of shocked me. I think the brutal temps and crappy weather had many sellers waiting for spring. However, of the four sales, the final sold prices ranged from $215,000 to $287,900. The average of all four gives us our new average market value of Braemar townhouses of $258,825. That's on the low side for our neighborhood townhouses, but reflects the fact that our four sales were make up primarily of smaller townhouses. That means the decrease in average market value of over 12% since last report and 15.5% since last year, are relatively meaningless. We'll probably see a spike in the next direction next report.
If you placed your Braemar townhouse on the market, based on current conditions, this report indicates it would be under contract in an average of two months. Again, as someone who has recently listed and placed a Braemar townhouse under contract that seems out of whack with current reality. This report also indicates you could expect a buyer to ask for an average of about 1.5% of the sales price in closing cost help.
The next Braemar Townhouse Report will be out in May and will detail sales from March and April. In the meantime, when you are interested in selling your Braemar townhouse, call me for a free market analysis of your specific home's value. No One Knows Braemar Better!
Please feel free to join my neighborhood Facebook group, BRAEMAR (Bristow,VA.) I started the group to have an easy access point for these online Braemar Property Value Reports. However, you can start any neighborhood conversation you like to there. When neighbors talk, good things happen. My favorite being reuniting lost pets with their owners.
Statistics compiled using the MRIS (Metropolitan Regional Information Systems.)