Braemar Property Value Report: September-October 2019 (NV Homes)
As soon as I finish typing up this most recent Braemar Property Value Report, I am heading to the grocery store. There is nothing more stress inducing this time of year than having to grocery shop on Wednesday, or even Tuesday, before Thanksgiving. One of the joys of being a Braemar Real Estate Agent is that I can do my chores during regular business hours while the nine to five world is working.
In this edition of the Braemar Property Value Report, I focus on sales of homes built by NV Homes in our neighborhood during the months of September and October. During that time, there were two NV Homes that sold. The details of those sales are listed below:
Taking these two sales and combining them the entire last twelve months of NV Home sales in our neighborhood, our six and twelve month data points are updated. These are the data points that give us indications as to where our market is heading. Our updated data points are pictured below:
Looking first at the sold price column, we see that both the six month average and six month median sold prices are below their respective twelve month values. This is not a good sign, and if it is continues in the next report, could indicate the softening of values of the larger single family homes in Braemar. Given the other data points, it may just be a fluke this report. Allow me to continue.
Seller subsidy, also known as closing cost help to buyers, shows a trend indicating competitive demand. Both the six month average and six month median seller subsidy value are less than their respective twelve month values. This means buyers have been asking for less closing cost help, which is is generally an indication of a healthy, seller favored market.
Days on market is another column that shows stability to seller favored conditions. The six month median marketing time is exactly the same as the twelve month median marketing time. Meanwhile, the six month average marketing time has shortened by three days from the twelve month average marketing time. NV Homes aren’t taking any longer to sell, and may in fact, be selling a tad faster.
If you placed your NV Home on the market, priced to current conditions, you could expect it to be under contract in less than three weeks. You could also expect to pay about 1.5% of the sales price in closing cost help.
The next Braemar Property Value Report will be out in January. Until then, I wish you every happiness this holiday season. Of course, if the need arises to sell your Braemar home before our next report, don’t hesitate to call, text or email me. I sell Braemar homes for top dollar no matter the season! Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate