Braemar Property Value Report: January-February 2018 (Heritage Series)
Can you believe it is the first day of spring and we are battening down the hatches for potentially one foot of snow in Bristow? Thank goodness that buyers in the Braemar real estate market aren’t in need of warm temperatures or consistent weather to be out house hunting. They have been out in full force for months. We just need more homes to sell them.
Right now, it is time for another Braemar Property Value Report, focusing on sales of homes in the Heritage Series. Heritage Series homes are mid-sized single family homes, built by Brookfield Homes. They have two car attached garages and include the following floor plans: Exeter, Yardley, Zachery (a.k.a. Zurich) & Waverly.
In the first two months of the year, there were five Braemar Heritage Series homes that sold. The details of those sales are as follows:
There is one sale highlighted in pink. That was my listing, which garnered the highest net sales price for a four bedroom Heritage Series home. (Net price is sold price less seller subsidy) The sold prices ranged from $439,000 to $530,000. And when we put these sales in with the sales that happened within the last year, here’s how it affects our average and median values:
Both the average and median sold prices for the last six months are higher than their respective twelve month values. This means values are still going up. Seller subsidy (closing cost help to buyers) is down in the six month values compared to the twelve month values. Buyers are finding it is important to make their offers as competitive as possible. And marketing time is unchanged in the six month median compared to the twelve month median, but the six month average is shorter tan the twelve month median. Homes are selling faster.
If you placed your Braemar Heritage Series home on the market, priced to current conditions, you could expect to be under contract in less than two weeks. You could also reasonably expect to spend less than 1% of the sales price on closing cost help.
The next Braemar Property Value Report will be out in May. Until then, I am here to help you when you are ready to sell your Braemar home. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®