Braemar Property Value Report: March-April 2017 (Arista Series)
Gray, overcast weekend days are perfect for getting things done. In my world, being a full-time Bristow Real Estate Agent, that means taking time to run numbers for any one of my Braemar Property Value Reports. This particular report focuses on March and APril sales in the Arista Series. Arista Series homes are the large, single family homes built by Brookfield Homes. The floor plans include the Allister, Buckingham and Canterbury.
There was only one sale of a Braemar Arista Series home during the months of March and April. It was a four bedroom, four and a half bathroom, three finished level Allister on a cul-de-sac lot. It was located at 9535 Laurencekirk Place and listed for $499,000. It was sold by an investor who had recently picked it up at the foreclosure auction and improved it with new carpet and paint. It sold for $499,000 after only four days on the market.
When we put this sale in with our rolling six month and twelve month data, we see it is a low sold price compared the six and twelve month medians and averages. Unfortunately, when we compare the six month numbers to the twelve month numbers we find that the rolling six month average sold price is a little lower than twelve month average sold price. And the rolling six month median sold price is shows an even larger loss compared to the rolling twelve month median sold price. Let’s hope these falling values are not a continuing trend.
If you placed your Braemar Arista Series home on the market, priced to current conditions, the six month average and median marketing time suggests you would be under contract in a little less than one month. You could also expect to shell out some seller subsidy, also know as closing cost help to the buyer. The six month average and median numbers put that expectation anywhere between about $7,300 to $10,000.
The next Braemar Property Value Report will be out in July and will give us more recent information as we pull in May and June’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