Braemar Property Value Report: November-December 2016 (NV Homes)
Tuesdays that feel like Mondays, following a three day weekend, always throw me off. I’ll feel like I am playing catch up all week on my paperwork, and believe me, there is a lot of in the world of real estate. And then there are my market reports. I am playing catch up on those today, after running out of time to post the NV Homes edition of the Braemar Property Value Report yesterday. That’s the report that tells you what happened with single family homes built by NV Homes in Braemar. Let’s get to it and see what happened in the last two months of 2016.
Only two NV Homes in Braemar sold between the beginning of November and end of December. The high sold price was $545,000 and the low sold price was $409,900. The former was a Remington model with four bedrooms, three and a half bathrooms and a fully finished walk-up basement. It was also 3,136 square feet on the first two levels of the home. The latter was a Raleigh model with one less full bathroom, no finished basement with what appeared to be no exit and only 2,600 square feet on the first two levels of the home. These homes were very different. The average of both gives us our new average market value for NV Homes in Braemar of $477,450. That new average market value marks a decrease in average value of 9% since last report and a decrease of nearly 3% since last year. Having said that, I feel it is important to note that most NV Homes are on the larger side, so these results this edition are being skewed by a smaller home.
If you placed your Braemar NV Home on the market, priced to current conditions, it may take nearly four months to get a buyer. I suspect that number will go down now that we are heading into spring. You could also expect to pay an average of nearly 3% of the sales price in closing cost help for the buyer.
The next Braemar Property Value Report will be out in March and detail sales from January and February. Until then, when you are ready to sell your Braemar home, give me a call. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®, Manassas VA
Statistics compiled using the MRIS (Metropolitan Regional Information Systems.)