Braemar Property Value Report: March-April 2017 (Heritage Series)
It is another gloomy day in Bristow, perfect conditions to do a Braemar Property Value Report and tell you what’s going on in the Braemar real estate market. This report will look back to sales in the Heritage Series homes in Braemar for the months of March and April. If you aren’t familiar with what type of homes make up the Heritage Series, they are he mid-sized single family homes, built by Brookfield Homes. They have two car attached garages and include the following floor plans: Exeter, Yardley, Zachery & Waverly.
There was only one sale of a Heritage home in Braemar between the beginning of March and end of April. It was a four bedroom Exeter model, with three of those bedrooms being on the upper level. It listed for $429,900 and sold for $430,000. It was under contract in only two days and the seller gave no closing cost assistance.
Taking this sale and looking at how it falls in comparison to the six month and twelve month average and median sold prices, we find it falls above the last six months’values, but below the last twelve months’ values. And when we compare the six month rolling values to the twelve month rolling values, we see average and median values in the last six months being lower. Hopefully, this is not a softening of our market, but only future reports will be able to tell us that. What we like to see is the average and median six month figures outperforming the yearly stats.
If you placed your home on the market, priced to current market conditions, you could expect that it may take two months to sell your home. At least, that is what the six months median and average marketing times are telling us. Or you could sell in two days like Runner Stone did. You may also not have to give anything in closing cost help with the buyer demand being so strong.
The next Braemar Property Value Report will be in out in July and will focus on what happened in May and June. Until then, when you are ready to sell your Braemar home, give me a call at 703-402-0037 for an free, expert market analysis. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®, Manassas VA