Braemar Property Value Report: January-February 2018 (NV Homes)
It is the second day of spring and the residents of Braemar are experiencing a snow day. Seems nuts, but it happens. I’m a lifelong resident of Northern Virginia. March snow storms are not completely out of the ordinary. They don’t happen every year, but every five or eight years, you get hit with one.
For a top producing Braemar Real Estate Agent, a snow day is a great time to put together another Braemar Property Value Report. Today’s “snow day” report focuses on homes built by NV Homes in Braemar.
Unfortunately, for the first two months of the year, there were no NV Homes that sold. However, that doesn’t mean we can’t get a look at what the updated six and twelve month values tell us.
When we look at the six month median and average sold price values, we find that they are lower than the twelve month median and average sold values. That’s not great news. Then again, we are really going on only two months of home sales making up the six month values. Those were in November and December. We can’t truly determine a pattern until we consistently have more information.
What we can determine from those six month values is that if you placed your NV Home on the market, priced to current conditions, you could expect it to be under contract in a week or so. It might take a tad longer, but I doubt it would take the 109 days showing in the six month average. That number is skewed by an NV Home that lingered due to poor marketing and too high a price. You could also expect to pay about 1.5% of the sales price in closing cost to the the buyer (seller subsidy.)
The next Braemar Property Value Report will be out in May. Until then, when you are ready to sell your NV Home, give me a call. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®