Braemar Property Value Report: November-December 2019 (Heritage Series)
We are well into first month of the New Year and that, to this Top Braemar Listing Agent, means it is time for another Braemar Property Value Report. This particular edition focuses on sales of Heritage Series homes in our neighborhood between the months of November and December 2019. 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.
Let’s dive right in. During the last two months of the previous year, there were three Heritage homes that sold. Their final sold prices ranged from $425,000 to $524,900. The details of those sales are listed below.
Taking these three sales and combining them with the full twelve months of sales from 2019, our six and twelve month data points are updated. Those are listed below.
Looking at the sold price column first, both the six month average and six month median sold prices are above their respective twelve month values. This means that the most recent six months of sales had Braemar Heritage home values continuing to push up in value. What concerns me a bit is that the two of three most recent sales from November and December are well below all of these average and median values. We’ll see what is revealed in our next report.
Next up in seller subsidy (closing cost assistance to buyers,) we see that both the six month average and median values are above their respective twelve month values. This means that buyers have been asking for, and receiving, more closing cost help from sellers. Even still, the six month average seller subsidy was still low considering a buyer could ask for 3% of the sales price, or in some cases, more.
Finally, the days on market numbers are also higher in the six month average and median values compared to the respective twelve month values. This means it’s been been taking a bit longer, on average, to get Heritage homes under contract.
If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect it to be under contract in about two weeks. You could also expect to pay an average of about 1% of the sales price, or less, in closing cost help.
The next Braemar Property Value Report will be out in March. Until then, if you think the spring 2020 market is when you would like to sell, the time to get started is now. Real estate spring happens a lot sooner than Mother Nature’s spring. Give me a call and let’s about about pricing, timing and marketing. Getting top dollar for your Braemar home is what I do best. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate