Braemar Property Values: July-August 2011 (Heritage Series)
Can you believe it's already time to look forward to the Braemar Halloween Spooktacular? Seems that it was just summer. Yet school has been in session for weeks now and fall is definitely here. So with July and August behind us we can take a look back at the Braemar real estate market and see how the last two months of summer treated home owners in the Heritage Series. Heritage Series homes are mid-sized single family homes in Braemar, built by Brookfield, that include the following floor plans: Exeter, Yardley, Zachery and Waverly.
There were three resales of Heritage Series homes in Braemar during the months of July and August. Two were Yardleys, the other a Waverly. High sales price was $415,000. Low sold price was $347,500. The average of their sales prices gives us a new average market value of $387,500. That's an increase of over 12% since last report (May-June 2011) and an over 7.5% increase since the same reporting period one year ago. This is news that should warm you up from that fall chill in the air.
What this report also tells us is that if you placed your Heritage Series Braemar single family home on the market, priced to current market conditions, you could expect to be under contract in a little over two weeks time. You could also expect a buyer to ask for an average of just over 1.5% of the sales price in closing cost assistance.
The next Braemar Property Value Report will be out in November and will detail sales from the months of September and October. Until then, if you are thinking of selling your Braemar single family home, don't rule out the benefits of the fall real estate market. Decreased inventory and steady demand usually lead to higher home prices this time of year. The end of one, and beginning of another Federal fiscal year is certainly a helpful factor in demand.
I am always available for a customized analysis of your specific Braemar home's value. I've been a Braemar resident and full time real estate agent since 2005. I've also been a Short Sale Agent since 2007. No matter what your equity position I can get your home sold in the shortest amount of time for the most money. And remember, no one knows Braemar better!
Chris Ann Cleland, Associate Broker-Licensed in Virginia, Long & Foster REALTORS®
Other Braemar Property Value posts for the period of July-August 2011:
Arista Series (large single family homes built by Brookfield Homes)
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)
Townhouse Report (separated into Garage and No Garage categories)
Condo Quarterly (condos known as Barrhill at Inverness Village)