Braemar Property Value Report: May-June 2016 (Heritage Series)
It was another scorcher today in Bristow. If I were a person of leisure, I would have spent the afternoon enjoying one of our Braemar pools. Unfortunately, that wasn’t in the cards for me today. That’s okay. I’m used to having a busy calendar with my chosen profession as a real estate agent. I love my job.
Right now my job is presenting another Braemar Property Value Report. This one will details sales of homes in the Heritage Series in our neighborhood for the months of May and June. Heritage Series homes, for those who may not be familiar, are the mid-sized single family homes, built by Brookfield Homes, with two car attached garages including the following floor plans: Exeter, Yardley, Zachery & Waverly.
Shameless plug: I have a great five bedroom Waverly on the market right now for $499,000, located at 9706 Native Rocks Drive. Click the link to read all about it.
There were seven Braemar Heritage Series homes that sold between the beginning of May and end of June. An unlikely five of them were Exeters, which is the smallest in the Heritage Series. That is going to pull down the average market value when we get there, as we are used to seeing more Yardleys sell, which is a larger home. As it stands now, the high sold price was $445,000 and the low sold price was $414,900. The average of all seven sales gives us our new average market value of $430,486. Given all that influence of smaller homes selling in this particular reporting period, it is not panic inducing to know that this is a 5% decrease in average market value since last report and a 3.5% decrease in average market value since last year. We’ll have a more true picture of market value as we move past this particular report’s influence.
If you placed your Heritage Series home on the market, priced to current conditions, this report indicates that it would be under contract in an average of about a month and a half. You could expect 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 September and will detail sales from the months of July and August. Until then, when you are ready to sell, give me and call and let’s talk about the specific value of your Braemar home. No One Knows Braemar Better!
Chris Ann Cleland, Associate Broker-Licensed in VA
Long & Foster REALTORS®, Manassas VA
Statistics compiled by Chris Ann Cleland, using the MRIS (Metropolitan Regional Information Systems.)