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Braemar Property Values: January-February 2011 (Heritage Series)
We are on the edge of Spring in Braemar. And with January and February behind us, we can take a look back at the resale market for Braemar Heritage Series homes. Heritage Series homes are mid-sized single family homes, with attached two car garages and include in the following floor plans: Exeter, Yardley, Zachary and Waverly.
Last report (November-December 2010) there were no resales of any Heritage Series homes in Braemar. Well, we have one to report for the first two months of 2011. That sales was a Yardley with four bedrooms, three and a half bathrooms and a fully finished basement. It listed and sold for $330,000 and becomes our new average market value for mid-sized single family homes in Braemar. Unfortunately, that's over an 8% decrease when looking at values from this time last year.
This one sale can set certain expectations for Braemar home sellers with mid-sized homes. If priced to current market conditions, a Braemar Heritage Series home would likely be under contract in about one month after hitting the market. Sellers could also expect to pay an average of 1.5% of the sales price in closing cost assistance for the buyer.
The next Braemar Property Value Report ... more
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