Braemar Property Value Report: September-October 2020 (Heritage Series)

Braemar Property Value Report: September-October 2020 (Heritage Series)

A rainy fall day is a good day to bring you another Braemar Property Value Report. Of course, from where I sit as a Top Braemar Real Estate Agent, I think any day is a good day for Braemar Property Value Report. Today’s report focuses on Heritage homes in our neighborhood. Heritage 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.

Looking back to September and October, there were eight Heritage homes that sold in our neighborhood. The details of those sales are listed below:

At a glance, we see that sold prices ranged from $515,000 to $586,000. Only three of eight sellers gave any seller subsidy and there is only one double digit days on market (DOM.) Taking these eight sales and combining them with the entire twelve months of Braemar Heritage home sales, our six and twelve month data points are updated as seen below:

Starting with the sold price column, we find both the six month average and six month median sold prices are higher than their respective twelve month sold prices. This means Heritage homes in Braemar are still gaining value. No surprise in our scarce inventory/high demand market.

Next up is the seller subsidy column, where we learn how much closing cost assistance sellers gave to buyers in their transactions. The six month average seller subsidy is slightly lower than the twelve month average seller subsidy. The six month median and twelve month median seller subsidy values are in agreement at zero. That means in both those time period of sales, more than half the sellers gave nothing in closing cost help.

Days on market shows an already healthy twelve month average marketing time shrinking by one week in the six month average. As for the median values, they are both at five days. That means more than half the sellers in each of those time frames got under contract in five days or less.

If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect it to be under contract in about a week. You could also expect that you would not have to give any seller subsidy.

The next Braemar Property Value Report will be out in January. Until then, I wish you every happiness this upcoming holiday season. Of course, if the need arises to sell your Braemar home between now and next report, don’t hesitate to get in touch. Our year end market is incredibly powerful and may be just what you need. I am happy to conduct a free consultation to explain what a year end sale could mean to you. Since 2005, No One Knows Braemar Better!

Chris Ann Cleland 
Associate Broker, Licensed in VA
Long & Foster Real Estate

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