Braemar Property Value Report: May-June 2016 (Arista Series)
Summer is flying by, just like it seems to every year. The good news is that in the flurry of activity, the Braemar real estate market is bustling right along as well. In this edition of the Braemar Property Value Report , we will take a look back at the sales for May and June of Arista Series homes in our neighborhood. Arista Series homes are the large single family homes built by Brookfield Homes. The floor plans are: Allister, Buckingham and Canterbury.
There were two Canterbury models that sold. Oddly enough, they both sold on the exact same day–May 12th. The high sold price was $570,000 on a Canterbury that included a loft. The low sold price was $540,000 was a Canterbury without the loft. The average of both sales gives us our new average market value for Arista Series homes of $555,000 That is over a 6% since last report. Unfortunately, there were no sales of Arista Series homes in the same reporting period last year, so we have no year to year comparison.
If you placed your Arista home on the market priced to current conditions, you could expect it to be under contract in an average of just under one month. You could also expect to pay an average of 1% of the sales price in closing cost assistance to the buyer.
The next Braemar Property Value Report will be out in September and will focus on sales from July and August. 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.)