Braemar Property Values: May-June 2016 (Courtyard Series)
It is time for another Braemar Property Value Report focusing on the most recent sales activity for Courtyard homes in our neighborhood. In particular, we will be looking back at the months of May and June. Too many time when I run this report, I find no sales, but it seems our market has had a decent amount of activity recently.
Before we begin, let's clarify exactly what defines a Braemar Courtyard home. A Braemar Courtyard home 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 three Braemar Courtyard homes that sold in May and June. Two Clarendon models and one Arlington. The high sold price was $405,000 and the low sold price was $379,900. The average of all three gives us our new average market value for Braemar Courtyard homes of $391,967. That is a 1.5% increase in average market value since last report. Unfortunately, because the same reporting period last year had no sales, there is no year to year comparison of value.
If you placed your Braemar Courtyard home on the market, priced to current conditions, you could expect it to be under contract in an average of about two weeks. You could also expect to pay an average of 1% of the sales price in closing cost help to the buyer.
The next Braemar Property Value Report will be out in September and will detail sales from July and August. Until then, when you are ready to sell your Braemar home, give me a call for a free market analysis. No One Knows Braemar Better!
Statistics compiled by Chris Ann Cleland, using the MRIS (Metropolitan Regional Information Systems.)