Braemar Property Value Report: November-December 2018 (Heritage Series)
As I look at the calendar, I can’t believe it is almost the end of January. Time marches by quickly. Thank goodness I still have time before the end of the month to get out my Braemar Property Value Reports. It is always my goal to have them published online before the end of odd numbered months.
This particular Braemar Property Value Report focuses on sales of Heritage Series homes in our neighborhood during November and December 2018. 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.
During the last two months of 2018, there were two Heritage homes that sold in Braemar. The details of those sales are listed below.
Taking these two sales, along with all the Heritage home sales in 2018, the six and twelve month data points we follow in this report are updated as follows:
Starting with the sold prices, we see that both the six month average and median sold prices are above their twelve month counterparts. That means values of Braemar Heritage homes are still inching upwards.
Seller subsidy (closing cost assistance to buyers) gives a bit of conflicting information. The six month average seller subsidy is higher than the twelve month average seller subsidy. That would indicate Braemar Heritage home sellers are giving more closing cost help recently. However, the six and twelve month median seller subsidy values are identical. Let’s call this one stable for now.
When it comes to days on market, we also have conflicting trends. The six month average is certainly a shorter time frame from the twelve month average marketing time. However, the six month median marketing time is longer than the twelve month marketing time. In all honesty, it is going to be one full year before we have reliable data in this category and that’s because our region switched to a new MLS system in November which calculates days on market differently.
If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect it be under contract in about five weeks. You could also expect expect to give a little more than 1% of the sales price in closing cost assistance.
The next Braemar Property Value Report will be out in late March. If you would like to receive a digital copy of the actual report, which is much like a financial statement of your home’s value, send me an email at ChrisAnn@LNF.com. Of course, when it is getting time to sell your Braemar home, give me a call for a free market analysis. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®