Braemar Property Value Report: July-August 2016 (Arista Series)
While it has been quite humid the last few days, it is evident that fall is approaching. Passing through Native Rocks Drive yesterday I saw that some trees were already dropping some leaves. Since summer is behind us, let’s take a look back at the months of July and August in this edition of the Braemar Property Value Report and see what happened with the sales of Arista Series homes. Arista Series homes are the large single family homes built by Brookfield Homes. The floor plans are: Allister, Buckingham and Canterbury.
While it is better than none, there is only one Arista home sale to report for the last two months. It was a Canterbury with only two finished levels, which is fairly unusual for the neighborhood. It listed for $505,999 and sold for $495,000. This is the only measure we have of recent Arista Series value to compare to last report and last year. In both those comparisons, the value is down, nearly 11% for the former, over 6.5% for the latter. As I said, this Canterbury is not typical of what most Arista homes in the neighborhood offer, so don’t worry that your home just lost a bunch of value. It didn’t. Experienced agents like me know better than to pull that home sale as a comp for your Arista home if you have three finished levels.
There are some other takeaways from this report with respect to marketing time and closing cost help. If you placed your Arista Series home on the market, priced to current conditions, this sale indicates it could take about a month and a half for you to go under contract. The best news is that you may end up with a buyer that doesn’t need closing cost help at all.
The next Braemar Property Value Report will be out in November and will detail sales information from September and October. 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.)