Another two months of home sales in Braemar is giving us the opportunity to once again reflect on property values in the neighborhood. This particular post will focus on the Carriage Series homes built by Brookfield. That includes the following models: Maplewood, Norwood, Oakdale & Parkdale. They are the detached garage homes built by Brookfield in Braemar.
As the market has declined, the Carriage Series homes have been in consistent demand by buyers. These smaller single family homes are a great alternative for first time home buyers that may otherwise buy a townhouse. The average sale price this report, after three resales in the past two months, is now $320,000. That's up from $318,563 in May and June this year! A small increase, but an increase the same.
The average closing cost contribution was $6,333 this report, up from $4,573 last report. And the number of days it takes to sell a Carriage Series home is well under a month, reported here at 22 days. That down considerably from last report's 82 days.
When looking back to average sale price one year ago, it is too easy to be discouraged. We've gone from $415,667 to $320,000. That's a 23% drop in value. Bad news, right?...Not if you put it in perspective with the surrounding Prince William County market. Our county has seen an overall decrease in average sales price, in the last twelve months, of 38%!!! So maybe that 23% price drop doesn't sound so bad to you now.
I prepare the Braemar Property Value Report in a hard copy format every other month. If you'd like to receive it in the mail, please contact me. Chris Ann Cleland, Long & Foster, 703-402-0037, chrisann@longandfoster.com.
You can also see historical average sale prices in the Heritage Series homes by logging on to my website: www.nvarealestate.net. Simply click the link to the left for Braemar Property Value Report Online. Scroll down to the Carriage Series. You'll find average sale prices dating back to 2005.
In the meantime, if you need to sell your Braemar home, or know someone that is looking to buy in our community, please don't hesitate to call. No one knows Braemar better!
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