Braemar Property Value Report: July-August 2016 (NV Homes)
The onset of the fall season has brought our temperatures down to the low eighties. However, if you want to get out and enjoy this weather and the sunshine, do it today. Looks like we are expecting some rain tomorrow. Right now, we are going to take a look at the last two months of the Braemar summer real estate market. This specific Braemar Property Value Report will focus on sales of single family homes built by NV Homes.
There were two NV Homes that sold between the beginning of July and the end of August. There were both four bedroom, four and a half bathroom homes with some degree of finished basement. The high sold price was $560,000 and the low sold price of $555,000. The average of the two sales gives us our new average market value for NV Homes of $577,000. This is over a 7.5% increase in value since last report. Unfortunately, because there were no NV Homes sold this time last year, we have no yearly comparison, which I personally find more telling. We’ll just have to wait for a yearly trend next report.
If you placed your NV Home on the market, priced to current conditions, you could expect it to be under contract in an average of five weeks. You could also expect a buyer to ask for an average of just under 1/2% of the sales price in closing cost help.
The next Braemar Property Value Report will be out in November and will detail sales from the months of September and Ocober. 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.)