Braemar Property Value Report: March-April 2016 (Arista Series)
Though we have been living under gray, drizzly skies in Braemar for the past few weeks, the spring real estate market doesn’t need sunshine to keep chugging along. In this edition of the Braemar Property Value Report we will look back to sales of homes in the Arista Series for the months of March and April. Arista Series homes are the large single family homes built by Brookfield Homes. The floor plans are: Allister, Buckingham and Canterbury.
Unlike the last two reports that saw no sales activity for these homes, there were four Arista Series homes that sold between March 1st and April 30th. The low sold price was $475,000 and the high sold price was $559,000. The average of all four gives us our new average market value of $522,500. While we have no comparison to last report since there were no sales, we do see that the average for a Braemar Arista Series home has decreased a little more than 3% since last year. These are averages. In general, given the high demand for single family homes in Braemar, home values overall in the neighborhood are on the rise.
If you placed your Braemar Arista home on the market, priced to current conditions, this report indicates you could expect your home to be under contract in an average of three months. I think you will see much faster results given the current market. You could also expect to pay an average of nearly 1% of the sales price in closing cost help to the buyer.
The next Braemar Property Value Report will be out in July and will focus on sales from May and June. Until then, when you are ready to sell your Braemar home, give me a call. No One Knows Braemar Better!
Chris Ann Cleland, Associate Broker-Licensed in VA
Long & Foster REALTORS®, Manassas VA
Statistics compiled using MRIS (Metropolitan Regional Information Systems.)