Braemar Property Value Report: May-June 2018 (Heritage Series)
It’s a dreary Monday in Braemar. At least it isn’t raining. After Saturday’s all day down pour, I am thankful for the break. Of course, there is no break when it comes to selling real estate, at least not for this Top Braemar Real Estate Agent. Time to get out another Braemar Property Value Report. This one focuses on sales of Heritage Series homes in May and June. 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. The homes built by Coscan in Braemar North Gate are also included in this group, as they are similar in size.
There were eight Heritage Series homes that sold between the beginning of May and end of June. The details of each sale are listed below:
You can see there is a wide range of sold prices, but most of the sales are grouped around $470,000-$475,000. When we take these sales and update our twelve months worth of Heritage Series sales, here is what come up with:
While the increases in average and median sold price in the six month values compared to the twelve month values are not huge, they are still increases. That’s good to see when you look at the most recent activity. Seller subsidy (closing cost assistance to buyers) is unchanged in the six month median compared to the twelve month median. The seller subsidy is the six month average is every so slightly less than the twelve month average. Marketing time has come down from the twelve month average and median days on market when compared to the six month average and median value. These are all good trends, no matter how slight.
If you placed your Braemar Heritage Series home on the market, priced to current conditions, you could expect it to be under contract in about two to three weeks. You could also expect to pay 1% to 1.5% of the sales price in closing cost assistance.
The next Braemar Property Value Report will be out in September. Until then, when you want to know how the most recent sales in the neighborhood 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®