Braemar Property Value Report: May-June 2017 (Heritage Series)
May and June have traditionally been months seeing the most real estate sales activity in Braemar. This edition of the Braemar Property Value Report, focusing on sales in the Heritage Series, is not breaking that tradition.
Before we get started, let’s clarify what makes a home a Braemar Heritage home. Heritage homes are the mid-sized single family homes, built by Brookfield Homes. They have two car attached garages and include the following floor plans: Exeter, Yardley, Zachery & Waverly. Of course, Coscan, before they became Brookfield Homes, had some floor plans that crop up occasionally in the older section of Braemar. They are the size of Heritage homes, thus included in this report.
There were thirteen Braemar Heritage homes that sold between May and June. That’s a lot when it comes to reporting sales in this series. The sold prices ranged from $405,000 to $532,500 and are detailed below:
When we combine these thirteen sales with our rolling six and twelve month values, we are able to see what’s happening with values, seller subsidy and marketing time.
Both six month sold values (average and median) are higher than their respective twelve month values. This shows us that values for Braemar Heritage homes are still moving up. By comparing the seller subsidy in the shorter term six month value markers to the longer term twelve month markers, we find that closing cost assistance is easing up a bit on sellers. And marketing time appears to be speeding up in the six month values compared to the twelve month values. All good news.
If you placed your Braemar Heritage home on the market, priced to current conditions, you could reasonably expect it to be under contract anywhere from mere days to as long as a month. You could also expect to shell out $3,000 to about $4,000 in closing cost help to your buyer. Most sellers are still paying something in closing cost help.
The next Braemar Property Value Report will be out in late September. Until then, if you want to find out how these most recent sales have affected your own home’s value, give me a call at 703-402-0037. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®, Manassas VA