Braemar Property Value Report: July-August 2017 (Heritage Series)
What a crummy day. Nothing but dreary skies and rain. Of course, these crappy weather days are great for putting together local real estate market reports. Today I am working on the Braemar Property Value Report for Heritage Series homes in Braemar. 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.
There were five Braemar Heritage homes that sold between the months of July and August. The sales are detailed below:
When we add these sales to the rolling six and twelve month data points, we immediately see that all but one of these most recent sales falls below the six month average median and sold price, seller subsidy and above the marketing time. And given that the six month sold values are not much higher than the twelve month values, it seems that at best, our Heritage home values are holding steady. We also see stability in seller subsidy (closing cost assistance to buyers) from the six month figures to the twelve month figures. Seller subsidy average and median values have ticked up a tad, but nothing alarming. Meanwhile, marketing time looks like it may be coming down in the six month values, compared to the twelve month values.
If you placed your Braemar Heritage home on the market, priced to current conditions, you could reasonably expect it to be under contract in under two week, or a little more three weeks. (If you do the right listing prep and hire a great listing agent, you can go under contract in two days like my sellers at 9996 Broadsword Drive.) You could also expect to pay about $5,000 in closing cost help to the buyer.
The next Braemar Property Value Report will be out in November. Until then, if you want to know how these most recent sales are affecting your specific 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