Braemar Property Value Report: January-February 2017 (Arista Series)
Spring is in the air in Bristow. As I drive down our suburban streets of Braemar I’m seeing daffodils and hyacinths blooming and our trees are finally sprouting their buds. While winter didn’t give us much of a show this past season, I know we all get excited when warmer weather approaches and our days are gaining sunlight. The warm weather and sunlight has been tempting me away from my Braemar Property Value Reports. It’s easy to start them on a cold dreary day. Harder to get them done when spring awaits just out the front door.
This particular report will focus on home sales in the Arista Series. Arista Series homes are the large, single family homes built by Brookfield Homes. The floor plans are: Allister, Buckingham and Canterbury.
The beginning of 2017 definitely got off to a better start in the Braemar real estate market, than the previous year saw as it neared its end. When we last left the Braemar Property Value Report for Arista Series homes, we saw only one sale at $510,000. Well, we only have one to report between January and February, but it listed and sold for $555,000. And instead of making that a marker of value in and of itself, we’re going to look back to six and twelve month average and median markers.
The average sales price for the last six months is virtually the same to the twelve month average. The median sales price for the last six months, however, has dropped a tad from the median we saw over the twelve month period. That drop wasn’t monumental. What I see is stability in pricing. Market demand of late will likely bring values up.
If you put your Arista Series home on the market, priced to current conditions, you could reasonably expect it to be under contract in 41-56 days time, which are the median and average marketing times found in our rolling six month data. You could also expect a buyer to request closing cost help. The average closing cost assistance was $7,714, but I have found the median numbers to be more reliable here. That would mean closing cost assistance of $10,000.
The next Braemar Property Value Report will be out in May and will give us more recent information as we pull in March and April’s data into our rolling averages. 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