Braemar Property Value Report: January-February 2015 (NV Homes)
Even though not much is blooming, after the harsh winter we had, just having temps in the mid-50’s and low 60’s feels like spring in Braemar. Right now, I’m keeping a watchful eye on a new tree I had planted at the end of fall last year. It’s either a late bloomer or the winter killed it. Time will tell.
Right now, let’s take a look back at resales of NV Homes in Braemar for the first two months of the year in this edition of the Braemar Property Value Report.
There were three NV Homes that sold in Braemar during January and February. Their final sold prices ranged from $439,000 to $574,000, which is a gap large enough to drive a truck through. The average of all three sales gives us our new average market value of $499,633. Unfortunately, because there were no sales of NV Homes last report rounding out 2014, and none in the first two months of 2014 last year, we have no basis for comparison. However, it is a good sign that the larger single family homes in our community have been moving.
If you placed your NV Home on the market in Braemar, priced to current conditions, you could expect it to be under contract in an average of about five weeks. You could expect a buyer to request an average of about 3/10th of 1% of the sales price in closing cost help…which isn’t much. When you look at the three sales, what happened was two of three gave no closing cost help and one seller gave $5,000. Given those odds, you may have to pay closing costs at all.
The next Braemar Property Value Report will be out in May and will detail sales from March and April. In the meantime, when you want to sell your NV Home, give me a call for a free market analysis of your home’s specific value. No One Knows Braemar Better!
And if you haven’t already, please join my new Braemar Facebook group: BRAEMAR (Bristow,VA.) You can find links to these reports and be involved in all kinds of neighborhood conversations. My favorite happenings are when a lost pet is reunited with its owner.
Chris Ann Cleland, Associate Broker-Licensed in VA
Long & Foster REALTORS®, Manassas VA
Statistics compiled using the MRIS (Metropolitan Regional Information Systems.)