Braemar Property Value Report: July-August 2021 (NV Homes)

Braemar Property Value Report: July-August 2021 (NV Homes)

It has been a string of gorgeous September days lately. Just the right temperature and beautiful blue skies, very similar to the sky in the picture above. While I would rather be out enjoying the day, work still needs to get done. For this Top Braemar Real Estate Agent, that means getting out another Braemar Property Value Report. Today’s report focuses on the sales of houses built by NV Homes in our neighborhood during the last two months of summer. Without further delay, let’s get to it.

During July and August there were six NV Homes that sold in Braemar. The details of those sales are listed below:

Wow! Very health sold prices in that sold price column. But how do the six and twelve month data points look?

Starting with the sold price column we see both the six month average and six month median values are most definitely higher than their twelve month respective values. This means NV Homes are still pushing up in value. This report the average was up 4% in six months. The median value was up 3% over six months. Compared to last report, the average growth is down 3% and the median growth is up 2%. Only time will tell where values go from here. All I know is that the summer brought a slowing of the buyer frenzy we had been experiencing since 2020. Even with that slow down, it has remained a healthy seller’s market.

The seller subsidy column is where we learn how much closing cost help buyers were able to negotiate from their sellers. The answer in the six month and twelve month median values is none. That means more than half the sellers in both time frames gave absolutely nothing in closing cost help. However, NV Home sellers have been giving something since there are values in the six month and twelve month average values. One of those seller is represented in the most recent sales above with $2,300 in seller subsidy. That’s only one seller out of six that gave any closing cost help. It is a rarity these days as buyers are competing against other buyers to be the offer chosen.

Days on market is where we find out how quickly NV Homes are going under contract. Very fast. The six month average marketing time was only three days compared to the seven days seen in the twelve month average. Meanwhile, the six month median marketing time is only two days, which is even faster than twelve month median marketing time of three days.

If you placed your NV Home on the market, priced to current conditions, you could expect it ot be under contract in less than one week. You could also expect to give nothing in seller subsidy.

The next Braemar Property Value Report will be out in November. Until then, if you have been considering the sale of your Braemar home, waiting until next spring may not be the most beneficial move. Our year end housing market in Braemar is a powerful one, fueled mainly by the fiscal year for the Federal government beginning October 1st. New jobs are created and raises abound. Meanwhile, fewer sellers tend to take this time of year seriously. The sellers that do tend to make out very well. Call me and find out what a year end sale could mean for you. Since 2005, No One Knows Braemar Better.

Chris Ann Cleland 
Associate Broker, Licensed in VA
Long & Foster Real Estate
703-402-0037, ChrisAnn@LNF.com
www.SellingBraemar.com
www.UncompromisingValues.com
www.ChrisAnnCleland.com

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