Summer is in full swing in Braemar. What a great display of fireworks we saw on the Fourth of July in the neighborhood. So with May and June behind us, it's time to take a look back at the resale activity for the larger single family homes in Braemar, built by Brookfield Homes, known as the Arista Series. An Arista Series home will be one of three floor plans: Allister, Buckingham or Canterbury.
There were three resales during May and June; all Canterbury models. Seems we've been adding one additional resale since the beginning of the year to each report. It's nice to see that these larger homes in Braemar in are moving again. The average of these three sales brings the average market value for an Arista Series home in Braemar to $429,167. That's a 3% decrease in average market value since last report (March-April 2011.) It is, however, nearly a 13% increase since this time last year. That is very good news to see a year over year increase in value.
If you placed your Braemar Arista Series home on the market and priced it to current market conditions, this report indicates that you could have your home under contract in 79 days. You could also expect a Buyer to request an average of nearly 1.5% of the sales price in closing cost help. Nice to see that closing cost assistance number going down. We'll keep an eye on the average days on market.
The next Braemar Property Value Report will be out in September and will detail resales from July and August. Until then if you are thinking of selling your Braemar single family home, give me a call for a more specific evaluation of your home's value. As a Braemar resident and full time real estate agent since 2005, and a Short Sale Specialist since 2007, I can help you sell your Braemar home no matter what your equity position. Remember, no one knows Braemar better!
Chris Ann Cleland, Associate Broker, Licensed in Virginia, Long & Foster REALTORS®
Other Braemar Property Value Reports for the time period of May-June 2011:
Carriage Series (smaller single family homes with detached garages, built by Brookfield Homes)
Courtyard Series (executive style homes, five to a private entrance, built by Brookfield Homes)
Heritage Series (mid-sized single family homes built by Brookfield Homes)
Townhouse Report (townhouses separated into garage and no garage categories)
Condo Quarterly (condos known as Barrhill at Inverness Village)