Another two months of home sales in Braemar is giving us the opportunity to reflect once more on property values in the neighborhood. This particular post will focus on the Heritage Series homes. That includes the following models: Yardley, Waverly, Zachary & Exeter. They are what I like to call the "Mama Bear" homes built by Brookfield in Braemar.
As the market has declined, the Heritage Series homes have continued to be in steady demand. With two resales this report (both Yardley models), the average sale price is now $357,450. That's hardly any change at all from last report's $357,500 (September and October 2008).
The average seller subsidy (seller closing cost assistance to buyer) was $5,475 this report, down from $8,750 last report. That's the second straight reporting period with a drop in seller subsidy. As for the days that it takes to sell a Heritage Series home, the number has gone up. It is currently 55 days, up from 36 days last report.
When looking back to average sale price one year ago, it is too easy to be discouraged. We've gone from an average sales price of $418,400 to $357,450. That's a 14% 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 35%!!!
You can 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 Heritage Series. You'll find average sale prices dating back to May and June 2005. The page you will find looks like this:
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. 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!
Chris Ann Cleland, Long & Foster, Realtor (licensed in VA), GRI, Short Sale Specialist
703-402-0037, chrisann@longandfoster.com
Chris Ann Cleland, Associate Broker- Licensed in Virginia, GRI, SFR, Northern Virginia Short Sale Specialist. Affiliated with Long & Foster, 7526 Limestone Drive, Gainesville, VA 20155. To contact Chris Ann, call 703-402-0037 or email chrisann@LNF.com. Or you can visit her website: www.nvarealestate.net.
Header is a photo of Braemar in Bristow, VA during one of the blizzards of the 2009-2010 winter season.
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Great idea to offer your report in hard copy. I may have to borrow that one.