Braemar Property Value Report: July-August 2017 (NV Homes)
Fall has definitely hit Bristow. The cooling temperatures took me by surprise over the weekend when I was out showing property. Made me wish I had taken a lightweight jacket with me. And the early morning temperatures in my home are letting me know it will soon be time to turn on the furnace, at least in the overnights.
On this cool fall day, let’s take a look at what happened with the sale of NV Homes in Braemar during the months of July and August. We’ll take a look at the sales from that time, add them into our rolling data points, and see whether we are going up, down or remaining stable when it comes to value, seller subsidy (closing cost assistance to buyers) and marketing time.
There were three NV Homes that sold during the last two months of summer. The details of those sales are as follows:
You can easily see that none of these sales took more than a month to go under contract. In fact, two of the three were under contract in less than two weeks. One in less in than one week.
When we take these sales and update our rolling six month and twelve month values, we find that only one of the most recent sales is above the six month average and median sold price. And the six month seller subsidy data points are lower than two of these sales. These two indications aren’t great, but the marketing time (DOM) for all three most recent sales are at, or below the lowest of the six month marketing figures.
Even just looking at the six month marketing figures to the twelve month marketing figures we see prices increasing, closing costs and marketing time going down. Those trends may not be entirely present in the recent sales comparison to the six month average and median values, but the overall six month values to the twelve month values indicate seller friendly trends. Only time will tell if these trends continue.
The next Braemar Property Value Report will be out in November and will focus on the homes sold in September and October. Until then, if you want to know how the most recent sales in Braemar 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