It is once again time to look back at Braemar Proerty Values, this time for the months of March & April 2010 in the Arista Series. The Arista Series consists of the large, single family homes built by Brookfield Homes and will be one of three models: Allister, Buckingham or Canterbury. If you have one of these models, this Braemar Property Value Report pertains to you.
Braemar Property Values were, once again, comprised of only one resale in the Arista Series in the last two months, so there was no averaging necessary. One resale means the average market value is the sale price of the one sale. Luckily, that one sale brings property values up again from last report's (January- Feburary 2010) average value. The sale for this report is a five bedroom Canterbury, with a fully finished basement. It sold for $450,000. Canterburys are by far and away the most widely seen model in Braemar's Arista Series.
When looking back to last report, we see a 9.8% increase in average sales price. That's our second 9% increase in a row. Year over year, we also have an increase of 4.7%. It is great to see the year to year increase is, well, increasing.
If you needed to sell your Canterbury, Buckingham or Allister model homes, and priced it to current market conditions, you could expect to have your home under contract in less than two months. And judging from this report, you could expect to pay about 3% of the sales price in closing cost assistance to the buyer.
Despite the average number of days reported hered that it takes to sell, there is still heavy buyer demand in Braemar. This sale reported was a Short Sale and actually went under contract at the end of December 2009. From the current pulse of the market, it seems the expiration of the home buyer's tax credit hasn't hurt us at all.
The next Braemar Property Value Report wll be out in July. Until then, if you would like to view average sale prices for Breamear homes dating back to May & June 2005, you can visit my website: www.nvarealestate.net. Click the link for Braemar Property Value Report Online and the Arista Series numbers will be the first you see.
If you are thinking of selling your Braemar home, please give me a call. No one knows Braemar better!
Chris Ann Cleland, Realtor, Licensed in VA, Long & Foster