Braemar Property Value Report: January-February 2016 (NV Homes)
There is a sense of optimism in the air in Braemar. The sun is shining. The days are getting longer. And finally, the warmer temperatures may be here to stay. Looks like some rain is coming our way, so get out and enjoy this while you can.
There were two NV Homes that sold between January and February. They were both Potomac models. The high sold price was $550,000 and the low sold price was $520,000. The average of both gives us our new average market value for NV Homes of $535,000. That means an increase of nearly 9% in average market value since last report and an increase of over 7% since last year. Does that mean your NV Home just went up 9% since the end of 2015? No. We are dealing in averages. However, it is nice to see the averages going up.
If you placed your NV Home on the market, this report indicates you could expect it to be under contract in an average of 134 days. Remember, these homes were listed in the fall and wen through the holiday months before they sold. We are in spring. It’s likely yours would sell as fast as this NV Home I just listed that went under contract in two days. That is, you could expect results like that IF you got your property market ready and priced it right. What you really could expect is to pay an average of 1.5% of the sales price in closing cost help to the buyer.
The next Braemar Property Value Report will be out in late May and will detail sales from the months of 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!
Chris Ann Cleland, Associate Broker-Licensed in VA
Long & Foster REALTORS®, Manassas VA
Statistics compiled using the MRIS (Metropolitan Regional Information Systems.)