Braemar Property Values: November-December 2016 (Heritage Series)
Working as a Bristow Real Estate Agent, I rarely even think about a three day weekend. A lot of residents of Braemar will have off for Martin Luther King Jr. Day tomorrow. Meanwhile, I'll start my morning with a meeting in Manassas. When home buyers and sellers have holidays from work, real estate agents work. Even this Sunday night, before I call it a day and step away from my computer, I want to get out today's Braemar Property Value Report. This one focuses on sales of Heritage Series homes for the last two months of 2016. If you aren't familiar with what type of homes make up the Heritage Series, they are he mid-sized single family homes, built by Brookfield Homes, with two car attached garages including the following floor plans: Exeter, Yardley, Zachery & Waverly.
There were two sales of Heritage Series homes between the beginning of November and end of December. Both were Yardleys. The high sold price was $420,000 and the low sold price was $367,500. Neither had a completely finished basement. In fact, the lowest price had an unfinished basement. The average of the two gives us our new average market value of $393,750 for Heritage Series homes. This means a decrease in average value of nearly 14% since last report and a decrease of nearly 10.5% since last year. Don't get upset just yet. The last report had a Yardley with a fully finished basement sell for $480,000. Remember, we are looking at averages.
If you placed your Braemar Heritage Series home on the market, priced to current conditions, you could expect it to take an average of 66 days to go under contract. You may not even have to pay any closing cost help for the buyer either. The good news is that neither of the buyers in this reporting period did.
The next Braemar Property Value Report will be out in March and will detail sales from the months of January and February. Until then, when you are ready to sell, give me and call and let's talk about the specific value of your Braemar home. We'll look at a much broader range of comps to make sure you get the most money for your home. Since 2005, No One Knows Braemar Better!
Statistics compiled using the MRIS (Metropolitan Regional Information Systems.)
Originally posted at SellingBraemar.com.