Braemar Property Value Report: September-October 2019 (Heritage Series)
As we near the Thanksgiving holiday, you can feel the excitement in the air. Preparations and plans are being made for celebrations with family and friends. Some may think that not much would be happening in the world of local real estate. I am here to tell you that there is plenty happening in real estate. In the last three days I got two properties under contract. That’s what a professional, full-time agent does…they sell real estate no matter the season. And yes, even though this is a lazy Saturday afternoon for many, I am happy to be typing up this Braemar Property Value Report.
This particular report focuses on sales in the Heritage Series. Heritage Series 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.
There were nine Heritage homes that sold in Braemar during our current reporting period of September and October. Final sold prices ranged from $432,600 to $550,000. The details of those sales are listed below:
Taking these nine sales and combining them with the entirety of the previous twelve months of Heritage home sales, we get updated six and twelve month data points that give us a snapshot of the health of our Braemar Heritage home market. Those updated values are below:
Starting with the sold price column, we see that both the six month average and six month median sold prices are above their respective twelve month values. This means that values for Braemar Heritage homes are still pushing up.
Seller subsidy, also known as closing cost help to buyers, has remained at zero in both the six and twelve month median values. That means in both sets of sales data, more than half the sales have NOT given closing cost help. However, the six month average has risen when compared to the twelve month average. When buyers are asking for closing cost help, it seems that it is more in the recent sales.
When it comes to days on market, there has been no change at all in the six month median and average compared to the twelve month median and average. It is taking about the same amount of time it did a year ago to sell a Braemar Heritage home.
If you placed your Braemar Heritage home on the market, priced to current conditions, you could expect it to be under contract in less than two weeks. You could also expect the odds to favor you that you land a buyer that does not request closing cost help.
The next Braemar Property Value Report will be out in January. Until, I wish you all the best this holiday season. Of course, if the need arises for you to sell your Braemar home before next year, don’t hesitate to call me. I sell Braemar real estate every month of the year for top dollar. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate