It is time for another Braemar Townhouse Report. A chance to look at sales activity in the months of March and April and find the average value of a Bramear townhouse. Townhouse sales in this Braemar Tonwhouse Report, as always, are divided into two categories: No Garage and Garage.
The was very little in the way of sales activity in Braemar townhouses in March and April. To begin, there was only one resale in the No Garage category. However, that one sale made an increase in the average sales price. It jumped from $191,000 last report (January-February 2009) to $215,000 this report. That's over a 12% increase! Meanwhile, this particular sale had no seller subsidy (closing cost assistance from seller to buyer). Most importantly, this home had a contract in only three days of marketing time!
Garage Townhouses saw a little more action this report with two resales. Average sales price is now $220,000 up from $211,950 last report (January-February 2009). That's over a 4% increase in value in two months. And seller subsidy has gone down from $7,436 last report, to $2,964 this report. The average number of days it is taking to sell one of these townhouses has increased to 43 days. This is likely due to the large number of short sales in our neighborhood.
Overall, both of these categories of townhomes are doing substantially better than Prince William County townhouses as a whole. Townhouse values in the County at large have dropped 35% from April 2008-April 2009. The drops for No Garage Townhouses and Garage Townhouses in Braemar, year to year, are 10% and 15% respectively.
There should be many more resales in the next Braemar Townhouse Report. At the time of this report, there are 13 townhouses under contract. Of those 13, 5 are bank owned (foreclosures), 7 are short sales and 1 is a traditional sale.
You can see historical averages dating back to 2006 on my website: www.nvarealestate.net. Click the link for Braemar Townhouse Report Online. Averages will be divided by garage, just as they are here. The displays will look like this:
If you would like to receive a hard copy of the Braemar Townhouse Report, please call or email to sign up.
Thinking of selling your Braemar Townhouse? Give me a call for a free, customized market analysis of your home's value. No one knows Braemar better!
Chris Ann Cleland, Long & Foster, 703-402-0037, chrisann@lnf.com
I am a licensed Realtor in Virginia, GRI and Short Sale Specialist.
Chris Ann Cleland, Associate Broker- Licensed in Virginia, GRI, SFR, Northern Virginia Short Sale Specialist. Affiliated with Long & Foster, 7526 Limestone Drive, Gainesville, VA 20155. To contact Chris Ann, call 703-402-0037 or email chrisann@LNF.com. Or you can visit her website: www.nvarealestate.net.
Header is a combination of photos from the Bristow, Gainesville & Haymarket areas, taken by Chris Ann Cleland.
Your reports on Braemar show your in depth knowledge of the area.
Thanks, Pat. I've been doing them since moving here in 2005.
Did you stick with the Market Leader beta or drop it?
Cindy: Dropped it fairly quickly. I found it wasn't producing any leads.
LIke the format you are using for the Braemar Townhouse Reports now with the tables instead of the screen shot of the webpage.
Anne: Thanks. I'm glad I retooled the reports too. Got to get busy getting September's (2011) together.