Braemar Property Value Report: November-December 2016 (Arista Series)
The new year is here and while we are less than two weeks into it, I am here to tell you that the buyers are out and house hunting. The spring real estate market is happening early this year. Don’t let the snow we saw on the ground fool you. Of course, this edition of the Braemar Property Value Report is focusing on what happened in the last two months of 2016. Let’s get to it and see what happened with Arista Series home values. Arista Series homes are the large, single family homes built by Brookfield Homes. The floor plans are: Allister, Buckingham and Canterbury.
Unfortunately there was only one sale of an Arista Series home in the last two months of 2016. Its sales price was $510,000. It had been listed for $525,000. It was a Canterbury model with four bedrooms, two and a half bathrooms and a partially finished basement. If we took this price and compared it to last report’s average, it would mean about a 3% decrease in value. However, the great news is that last report, five homes sold and three of them sold for higher than $510,000. One sold exactly for $510,000. In other words, there is no cause for alarm. And since there was no Arista Series home sales in the last two months of 2015, we have no year to year comparison.
If you placed your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contract in a about a month and a half. You could also expect to pay 2% of the sales price in closing cost help.
The next Braemar Property Value Report will be out in late March and will focus on sales from the first two months of 2017. Until then, when you are ready to sell your Braemar home, give me a call. Since 2005, 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.)