Another two months of home sales in Braemar is giving us the opportunity to reflect back on property values in the neighborhood. This particular post will focus on the Arista Series homes built by Brookfield. That includes the following models: Canterbury, Allister and Buckingham. These are the largest single family homes built by Brookfield in Braemar.
This Braemar Property Value Report gives us an average of two Canterbury resales, both with finished basements. The average sale price is now $430,000. That's a big improvement since the average of $404,967 we saw last report (January-February 2009). That's an average market value INCREASE of 6.2% in two months. I like this trend, and I'm sure you do too.
The average seller subsidy (closing cost assistance from seller to buyer) was $7,500 this report. Considering the average seller subsidy was $10,584 last report, this is also a postive change. Buyers seem to have learned that having a cash reserve for downpayment AND closing costs gives them bargaining power to win homes. And the days it takes to sell an Arista Series home is down significantly this report. It went from 136 days last report, to 74 days this report. The market is certainly moving much swifter these days.
As there were no resales in March and April 2008, we have no year to year average. Next report we will be able to take a close look at the year to year comparison.
You can see historical average sale prices in the Arista Series homes by logging on to my website: www.nvarealestate.net. Simply click the link to the left for Braemar Property Value Report Online. The Arista Series will be the first figures you see. You'll find average sale prices dating back to May & June 2005. It will look 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@lnf.com
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