Braemar Condo Quarterly: January-March 2015
The first quarter of 2015 started with a bang and hasn't slowed down in the Bristow real estate market. Buyer demand has been incredible. Of course, we can only sell the homes that come on the market, and sometimes lack of inventory is a problem. Let's see what happened with Braemar condos during the first quarter of the year.
Just like the first quarter of last year, there was only one Braemar condo that sold. For some reason, Braemar sellers seem to like to wait until spring, though buyers were out in full force in January. The sold price of $249,900 represents over 4% since last year and an increase of over 1.5% compared to last quarter's average.
As I type this report, there are two Braemar condos under contract and three available for sale. We'll see if demand holds up through spring. One thing is for sure, sellers that waited to list until spring faced more competition than those that listed in the beginning of the year.
If you placed your Braemar condo on the market, priced to current conditions, you could expect it to be under contract in a little over a week, based on the sale in the first quarter. The sales on the market now are going to be pushing that marketing time up. You could also expect a buyer to ask for 3% of the sales price, or more, in closing cost help. The sale outlined here is one where the buyer got 4% of the sales price, which is very rare to see.
The next Braemar Condo Quarterly will cover the second quarter of 2015 and will be out in July. Until then, when you are ready to sell 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 small back yards)
Piggyback & Patio Quarterly (back to back townhouses and quad homes)
Reflection Quarterly (single family homes attached at the garage only)