Braemar Property Value Report: May-June 2018 (NV Homes)
The opening sentence of my Braemar market reports always seems to be the hardest to get past. Sure I’ve examined the sales and crunched the numbers myself, which puts me way above what most Bristow area agents are willing to do for their market area. Somehow, the most intimidating factor about the reports is the open. It’s a good thing we are past that part now and this Top Braemar Real Estate Agent can share some valuable information with you.
This particular Braemar Property Value Report focuses on the sales activity of NV Homes in Braemar during the months of May and June. That activity includes four NV Home sales, all of which are listed in detail below:
After laying out the data for the two month reporting period, I then go back and put these sales for May & June 2018 in place of the May & June 2017 sales. That gives us twelve months worth of data points that I slice into six month and twelve month average and median values. Here’s what we get with the updated values:
The way to compare six and twelve month data samples is see what changes are happening in the short term (six months) compared to the long term (twelve months.) Well, the first thing we examine are the sold prices. Both six month values are above the twelve month values, which is fantastic. There is a particularly larger jump from the twelve month average sold price to the six month average sold price. Values of NV Homes in Braemar are going up.
Another good trend for Braemar NV Home sellers is the decrease of seller subsidy (closing cost assistance to buyers) in the six month values to the twelve month values. Likewise, a reduction in time it takes to go under contract in the six month values is great to see compared to the twelve month values. In particular, the six month average days on market is substantially lower than the twelve month average. All good news for NV Home owners in Braemar.
If you placed your NV Home on the market, priced to current conditions, you could expect your property to be under contract in a little more than a week. You could also expect to pay about one half to three quarters of one percent of the sales price in seller subsidy.
The next Braemar Property Value Report will be out in September. Until then, when you want to know the value of your home in today’s market, or the optimum time of year to sell, give a call at 703-402-0037. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®