Braemar Reflection Quarterly: April-June 2017 (2nd Quarter)

Braemar Reflection Quarterly:  April-June 2017 (2nd Quarter)

Hard to believe, but I was just reading about a school supply drive.  Say it isn't so!  The kids have been out of school only a month.  Summer goes by so fast.  Hope you all are enjoying every minute of it.

Even though it is summer, which means we all get the opportunity to have a little more fun than usual, the job of this Braemar Real Estate remains the same.  It's my sworn duty to keep you up to date on the latest news in our neighborhood real estate market.  So today, let's talk about what happened in the second quarter with respect with Braemar Reflection homes.  Reflection homes in Braemar are semi-attached single family homes located only on Tarvie Circle in New Castle Village.  They are attached at the rear load garage.

There was only one Reflection home that sold in Braemar during the second quarter.  Not unusual because these homes makes up such a small percentage of the neighborhood.  Here are the details:

When we take this sale and throw it in with our rolling six month and twelve month averages, the six month values include only the sale above and the twelve month values bring in one more.  So really, we're looking at how this sale, when lumped in with the previous of the last twelve months, compares.

The comparison is not a simple one.  The most recent sale of 9668 Tarvie, while it did have an unfinished basement just like the only other twelve month sale, had an additional level in a loft that included a fifth bedroom and third bathroom.  Hmm.  So the fact that this home sold for more that the twelve month average and median values is not surprising.  It is simply inconclusive if this means an increase in value.

If you did place your Braemar Reflection home on the market, priced to current conditions, you could expect it to take about three weeks to go under contract.  That's an improvement over the twelve month marketing time value.  However, you may be expected to pay about $6,000 in closing cost help to the buyer.  That's not an improvement over the twelve month values.

The next Braemar Reflection Quarterly will be out in October.  From the looks of it, we should have at least one more sale to throw into that rolling twelve month value.  In the meantime, if you want to get a more specific idea of how the current market conditions are affecting your home's value, give me a call at 703-402-0037.  Since 2005, No One Knows Braemar Better!

Originally posted at SellingBraemar.com.