Braemar Property Value Report: January-February 2017 (NV Homes)
Putting together Braemar Property Value Reports is something I have been doing since 2005. And this cycle, I’ve retooled how I’m working my stats to be more true to average and median market values. Good thing too, because in this edition of the Braemar Property Value Report for NV Homes, we have no sales to report.
You may be wondering what in the world I can tell you about properties built by NV Homes in Braemar when I have no sales to report for the reporting period of January-February. Well, I decided to take a six month and twelve month rolling pool of data. From there, I will be giving you sales price, closing cost and marketing time figures. So even though there are no numbers to toss in for January and February, we have four other months in the six month numbers and ten other months in the twelve month figures. Let’s just see how the shorter term (six month) is shaping up against the longer term (twelve month.)
Unfortunately, the six month median and average sales prices have taken a dive compared to the twelve month numbers. Of course, our demand really picked up in January. So since we have no sales of NV Homes to throw in the mix from January and February, we aren’t seeing what that demand has done to NV Home values. My suspicion is that next time I present property value data for NV Homes we will see higher six month figures than twelve month figures.
If you placed your NV Home on the market, this report’s six month figures indicate it would be under contract in 75-84 days. I don’t believe you would have to wait that long. Remember, our data here is reflective of a slower fall market. You may still have to give about $10,000 in closing cost help. Despite the strengthening seller’s market, buyers seem unwilling, or unable, to pay for all their closing costs.
The next Braemar Property Value Report will be out in late May. That’s when we will be able to throw March and April sales into the mix and see how we are trending. Until then, when you are ready to sell your Braemar home, give me call for best results. Since 2005, No One Knows Braemar Better!
Chris Ann Cleland, Associate Broker-Licensed in VA
Long & Foster REALTORS®, Manassas VA