Braemar Property Value Report: May-June 2013 (Arista Series)
July in Braemar is usually plenty hot and humid. And July hasn’t disappointed. It has been wicked hot and so humid you feel like you’ve walked into a sauna when you live an air conditioned home to step outside. At least for now, we seem to be getting a respite from hot and humid. It feels like spring outside as I write this.
The Braemar real estate market continues to be hot. This Braemar Property Value Report is focused on the Arista Series, or large single family built by Brookfield Homes which include the Allister, Buckingham and Canterbury. you feel like you’ve walked into a sauna when you live an air-conditioned home to step outside. At least for now, we seem to be getting a respite from hot and humid. It feels like spring outside as I write this.
There were no sales of Braemar Arista Series homes in May and June. However, there were some sales of comparable homes built by Ryan and NV that sold in the neighborhood. While not an apple to apples comparison to the Arista Series homes by Brookfield, it will give an idea of value until next report when we’ll have actual Arista sales to report. The highest sold price of a comparable home was $525,000. The lowest was $430,000. The average of all seven sales was $472,187…really not far off last report’s Arista average of $475,000. Still, if we took this number as a fill-in average, it would mark a slight decrease from report to report and over an 8.5% decrease since last year. I don’t think we’ll see that as the case when we do see Arista homes hit the sold column next report.
If you used these NV and Ryan comps to predict seller subsidy and days on market, you could expect your home to be under contract in 8 days and for a buyer to ask for an average of just under 1% of the sales price in closing cost help.
The next Braemar Property Value Report will be out in September and will detail sales from July and August. Until then, if you are thinking of selling your Braemar home, call me for a free market analysis of your specific home’s value. I’ve been a Braemar resident and full-time Bristow Real Estate Agent since 2005. I’ve also been a Short Sale Agent since 2007. I know our local market and how your home fits into it. No one knows Braemar better!
Chris Ann Cleland, Associate Broker-Licensed in VA, Long & Foster REALTORS®
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:
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)
Townhouse Report (traditional townhouses with small back yards)
Condo Quarterly (townhouse style condos)